Near half of the country’s governors have signed off on letter to President Joe Biden asking him to withdraw his student a loan forgiveness plan that will cancel up up to $20,000 for federal aid borrowers.
“As governors, we support manufacturing higher education more available and affordable for pupils in our states, but we are fundamentally against your plan force American taxpayers will pay off in student loan debt of elite minority…” the governors said. in Monday letter.
Governors, all Republicans, say the lowest-income Americans will pay the debt. of doctors, lawyers and professorswith the majority of the debt, for example, USD 50,000 or more…”
Although the Biden plan caps aid of $20,000 for those who received Pell Grants, awarded to low-income students, and US$10,000. for pupils who did not receive Pell grants in college. In addition, individuals who do more over $125,000 are not eligible for in one- temporary relief.
“College can’t be right decision for every American, but for students who took out loans, that was them decision: capable adults and willing borrowers who knowingly agreed to terms of loan and agreed to take on debt in exchange for go to class,” the letter said. — High-cost degree is not key to unlocking American dream-hard work and personal responsibility.
He also argues that this is unfair to those who previously already paid off them student loans.
Governors also expressed concern that the forgiveness plan might encourage higher educational institutions drive up costs and, consequently, exacerbate inflation.
“Instead of turning to rising cost of education for higher education or work to lower interest rates for student loans, your plan kicks jar down road and makes today problems the worst for tomorrow’s students.
US secretary of Miguel Cardona’s education told NPR in August plan of forgiveness was born mainly from way to reverse adverse effects of pandemic COVID-19 and increase economy how result.
“Everyone knows someone who struggling post pandemic,” he said. — And you know if we help close in communities so that they – reduce chances of they go into default, everyone wins. It helps economy.”
The letter was signed by 22 Republican governors, including:
- Kim Reynolds, Iowa
- Doug Ducey, Arizona
- Brian Kemp, Georgia
- Mike Parson, Missouri
- Chris Sununu, New Hampshire
- Kevin Stitt, Oklahoma
- Bill Lee, Tennessee
- Mark Gordon, Wyoming
- Kay Ivey, Alabama
- Asa Hutchinson, Arkansas
- Brad Little, Idaho
- Greg Gianforte, Montana
- Doug Burgum, ND
- Henry McMaster, South Carolina
- Greg Abbott, Texas
- Mike Dunleavy, Alaska
- Ron DeSantis, Florida
- Larry Hogan, Maryland
- Pete Ricketts, Nebraska
- Mike DeWine, Ohio
- Christy Noem, South Dakota
- Spencer Cox, Utah
Governors also challenging power go through with plan, saying, “As president, you do not have the right to act unilaterally to herald in sweeping student loan repayment plan.
In seven states, forgiveness can be taxed as income.