Over 120 Republican lawmakers urge Cardona to rescind debt relief proposals
Natalie Schwartz
May 21, 2024
They asked the education secretary to ditch a draft rule that would clear debts for certain borrowers, such as those facing ballooning interest.
Dive Brief:
More than 120 Republican lawmakers are urging U.S. Education Secretary Miguel Cardona to rescind draft regulations aimed at providing debt relief to certain borrowers, such as those who have been in repayment for roughly 20 years or longer.
The lawmakers argued in a letter last week that the regulatory proposals are “the latest in a string of reckless attempts” to transfer the student loan debt onto people who didn’t take out loans for college or already paid them off.
The letter is one of 125,000-plus submissions the draft regulation received during a 30-day public comment period that ended May 17. Congress’s top Republican education voices — Rep. Virginia Foxx, chair of the House education committee, and Sen. Bill Cassidy, ranking member of the Senate education committee — spearheaded the letter.
