Ranking Member Cassidy, Colleagues Hold Press Conference on Landmark Package to Lower Education Costs and Student Debt

Hearing

"Anyone with a college-aged child knows that college costs are soaring. Some colleges and universities have used the availability of federal loans to increase tuitions, and this has left many students drowning in debt with no pathway for success.

President Biden's answer [is] to enact his $400 billion student debt scheme, which doesn't forgive debt. It merely transfers the responsibility to pay it back away from the person who willingly took on the debt onto taxpayers who maybe never went to college [or] paid back their student loans, in some cases sacrificing lifestyle in order to pay back those student loans," continued Dr. Cassidy. "This is not a fix, this is merely a band-aid, and the band-aid saddles taxpayers with a burden.

Our legislation puts downward pressure on tuition and empowers students to make the educational decisions that put them on track to academically and financially succeed. And unlike President Biden's plan, this actually addresses the root causes of the student debt crisis."

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