The Biden administration's latest effort to forgive student loans for 800,000 borrowers received a cold reception from the president's political rivals, who accused the administration of attempting to defy the Supreme Court.
Last month, the Supreme Court struck down President Joe Biden's effort to cancel up to $20,000 in federally held student loans for borrowers making less than $125,000. On Friday, the Department of Education said it would be canceling loans for 800,000 borrowers through an adjustment to the federal income-driven repayment program.
House Education and Workforce Committee Chairwoman Virginia Foxx called the administration's latest plan"shameful" and blasted President Joe Biden for"ruining our postsecondary education financing system" in a bid to secure votes in the next election. Eitel told the Washington Examiner that he"strongly suspects" that court challenges will emerge against the administration's latest plan, noting that he did not see"the legal basis" for the forgiveness, and expressed doubt that the administration had assessed each borrower's case before granting forgiveness.
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