With inauguration day approaching, the state of President Joe Biden's efforts to reduce student loan debt hangs in the balance.

Summary

Representative Glenn Grothman plans to introduce the “Protecting Taxpayers from Student Loan Bailouts Act,” aimed at blocking future large-scale student loan forgiveness by limiting regulations costing taxpayers over $100 million annually.

This follows a Supreme Court ruling in 2024 that struck down President Biden’s $430 billion loan forgiveness plan.

Republicans criticize forgiveness as inflationary and unfair, while Biden’s administration has canceled $180 billion in debt over four years.

With GOP control of Congress, future forgiveness efforts face significant challenges.

    • prole@lemmy.blahaj.zone
      2·
      3 hours ago

      Are you for real? He tried. It went to the Supreme Court. They said he can’t do it. And even despite that, he was able to forgive approx. $180B in student loans.

      This is one thing that he really tried to do.