Biden’s Reckless Policy will Exacerbate Student Loan Disaster

Committee on Education & Labor

Biden’s Reckless Policy will Exacerbate Student Loan Disaster

WASHINGTON, D.C., 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.

“Allowing borrowers to blindly take on more debt than they can handle is indefensible and reflects the Biden administration’s reckless commitment to perpetuating our broken financial aid system. Next time Democrats look for a culprit to blame for the student debt crisis, I suggest they look in the mirror.”

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