Biden’s Reckless Policy will Exacerbate Student Loan Disaster
Committee on Education & Labor
January 21, 2022
Today, Education and Labor Committee Republican Leader Virginia Foxx (R-NC) released the following statement after President Biden’s Education Department announced that it will no longer require student and parent borrowers to sign an online acknowledgment about their total student debt each year prior to taking out additional loans:
“This move by the Biden administration is ridiculous in principle and harmful in practice. We should do everything we can to help student borrowers understand the gravity of taking out tens of thousands of dollars in student loan debt. Shielding student borrowers from the reality of these significant financial decisions does them a major disservice that could have life changing ramifications.