GOP Pushes Bill to Stop Student Loan Forgiveness Ever Happening Again [View all]

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Source: Newsweek

Published Jan 10, 2025 at 11:31 AM EST


epublican Representative Glenn Grothman is set to introduce a bill that could thwart any future attempts to reduce student loan burdens for borrowers in the United States. Newsweek reached out to Grothman's office for comment via email.

Why It Matters

Efforts to reduce the amount of student debt by the Biden administration have faced several hurdles from Republicans. As Republicans take control of the House and Senate and the White House under President-elect Donald Trump this month, the state of President Joe Biden's efforts to reduce student debt hangs in the balance.

What To Know

A spokesperson for Wisconsin Representative Glenn Grothman told The New York Sun that he plans to introduce the Protecting Taxpayers from Student Loan Bailouts Act. This legislation aims to prevent the Education Department from enacting regulations imposing costs exceeding $100 million per year on taxpayers. Grothman introduced a similar bill in the previous Congress, but it was incorporated into the College Cost Reduction Act, which did not reach a vote on the House floor.

The bill's enactment would effectively curtail any mass cancellations a president might seek to implement. Student debt cancellation has been a key issue for the Biden administration in the past four years. During this time, approximately $180 billion in student loan debt was canceled for nearly five million Americans, according to the Department of Education. In June 2024, the Supreme Court ruled against Biden's $430 billion student debt forgiveness program in a 6-3 ruling.

Read more: https://www.newsweek.com/republicans-stop-student-loan-forgiveness-bill-glenn-grothman-2013104