Republicans Slam Biden On Student Loan Forgiveness

Here’s what you need to know — and what it means for your student loans.

Republicans aren’t too happy with Biden’s latest actions to cancel student loans. For example:

– Biden canceled $5.8 billion of student loans earlier this week;

– He has now canceled $25 billion of student loans for 1.3 million student loan borrowers; and

This includes student loan forgiveness through borrower defense to repayment ($7.9 billion),

public service loan forgiveness ($7.3 billion) and total and permanent disability ($8.5 billion).

Multiple Republicans have criticized Biden’s unilateral actions in recent weeks.

Specifically, they have objected to the over-reach of executive power

the significant cost to the American people, and the failure to address the underlying problems of higher education.