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.
Fine, if they want to play these games then let’s play. Student debt is over $1.6 trillion. If I stopped making payments individually, the ~$40k I borrowed is my problem. If all of us stop paying, it’s the government’s problem.
Not directly. The moment you make that loan it gets sold to a private loan handler
Yea, my loans have been passed around a few times. The tactic would still work, because there’s only a limited number of federally approved student loan debt collectors