BUTLER COUNTY, IOWA – U.S. Sen. Chuck Grassley (R-Iowa) today welcomed the Supreme Court’s 6-3 decision to overrule the Biden administration’s proposed plan to transfer student debt repayment by forcing American taxpayers to pay off billions of dollars in student loans incurred by other borrowers.
“Iowans in each of the sixteen counties I visited this week told me they’re hurting from two years of record-high inflation — the last thing they needed was a half-trillion dollar check to pay off the Biden administration’s student loan transfer. The reality of that plan is not only fiscally insane, it’s unconstitutional,” Grassley said.
“I’ve been pushing for solutions to student debt since long before President Biden cooked up his student loan scheme. My colleagues and I have a reasonable proposal that gives every student and borrower improved financial options. There’s nothing controversial about it, and there’s no reason the Senate should wait to vote on our legislative package when we return to Washington,” Grassley continued.
“Opportunity and personal responsibility are hallmarks of the American life. We should encourage those principles in future generations by better preparing students as they pursue an education and a career. I hope the Senate can move forward in a productive fashion and help our young people achieve a better future at a reasonable cost,” Grassley concluded.
Grassley has long warned of the fiscal irresponsibility of a student debt transfer plan. He introduced three bills this Congress to better financially prepare students for college, and joined Sen. Bill Cassidy (R-La.) and colleagues to introduce a legislative package to protect students from staggering debt. The package includes Grassley’s Understanding the True Cost of College Act and additionally implements provisions of his Know Before You Owe Federal Student Loan Act.
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