Senator Marshall Statement on SCOTUS Striking Down Biden’s Student Loan Scheme
Washington, D.C. – Today, the Supreme Court of the United States struck down Joe Biden’s student loan forgiveness proposal in a 6 to 3 decision. U.S. Senator Roger Marshall, M.D. has been outspoken against President Biden’s student loan bailout, and issued the following statement in support of today’s ruling:
“Joe Biden’s student loan scheme was nothing more than a kickback to his far-left political base from the very beginning. If you take out a loan you are expected to pay it, it’s that simple. It is not fair to force hard working Americans to pay off debts that are not theirs.” Senator Marshall said. “The idea that the President wanted to saddle families with more debt when the American people are already struggling to make ends meet under Joe Biden’s failed economy is wrong. At a time when our nation is facing a historic debt crisis, Joe Biden’s student loan bailout would only further exhaust this crisis and cost taxpayers BILLIONS. I’m proud of today’s ruling, and the clear message it sends to 1600 Pennsylvania Avenue- the highest court will not cater to your unlawful campaign promises.”
On June 1, Senator Marshall voted to overturn Joe Biden’s student loan bailout. The Congressional Review Act (CRA) blocking Biden’s student loan forgiveness scheme passed the Senate with bipartisan support. This measure protects those who did not attend college or already paid off their student loans from being responsible for this debt. This CRA was vetoed by President Biden on June 7.
87 percent of Americans have not taken out student loans or have already responsibly paid them back. Student loan forgiveness is expected to cost the American Taxpayers 400 billion dollars.
On August 24, 2022, President Biden announced his plan to:
1) cancel $10,000 to $20,000 of student loans for single borrowers making up to $125k/yr and married couples making up to $250k/yr; and
2) extend the payment and interest accrual pause on student loans via executive fiat. The plan was posted as a COVID-19 national emergency measure on the StudentAid.gov website and later posted to the Federal Register on October 12, 2022.