Congressman Tom Cole (OK-04) released the following statement after the U.S. Supreme Court ruled the Biden Administration does not have the authority to implement its student loan bailout plan in a 6 to 3 vote.
“When the Biden Administration issued its plan to erase a wide swath of certain federal student loan debts, it did so by circumventing Congress,” said Cole. “The reality is that ‘forgiving’ student loans does not mean no one is paying for them, and this executive order would have been unfair to the millions of Americans who did not go to college to avoid these loans, or already paid their loans off. Since borrowers accepted this money from the federal government, a supposed cancellation of that financial commitment is actually just a transfer to the American taxpayer. I applaud the Supreme Court’s decision in rejecting this mandate, returning the power back to Congress and standing with American taxpayers.”
