Six Republican-led states filed a lawsuit on Thursday aiming to stop tens of millions of student loan borrowers from receiving relief from President Joe Biden’s debt forgiveness plan.
of what the U.S. spends on the Pentagon yearly — a cost that Republicans almost never complain about.
The calculation for what revenue student loans may provide for the government may also be overblown; afrom the Government Accountability Office found that, despite previous estimates, federal student loan borrowing actually costs the government billions of dollars, in part because many borrowers simply can’t afford to pay their loans back.
“Corrupt politicians are doing the student loan industry’s dirty work. A judge will quickly dispose of this sham lawsuit, but we won’t forget,” the Student Borrower Protection Centeron Thursday. “Banks and student lenders — especially MOHELA — want to profit by trapping families in debt. We will hold them accountable.”
“Republicans want to keep you in debt for the rest of your life and take away student debt cancellation,” on Thursday, in response to the lawsuit. “It is an interesting strategy to adopt before the midterms.”
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