In a letter to Biden, Republican governors say they support 'making higher education more affordable' but don't want to 'force American taxpayers to pay off the student loan debt of an elite few.'
Students walk to and from classes on the Indiana University campus, Thursday, Oct. 14, 2021, in Bloomington, Ind. Indiana will tax student debt relief as income, reflecting similar policies in other U.S. states following the Biden administration's announcement of a forgiveness plan in August 2022.Students walk to and from classes on the Indiana University campus, Thursday, Oct. 14, 2021, in Bloomington, Ind.
Though, Biden's plan caps relief at $20,000 for those who received Pell grants – awarded to low-income students – and $10,000 for students who did not get Pell grants in college. Additionally, individuals who make more than $125,000 are not eligible for the one-time relief.
"Rather than addressing the rising cost of tuition for higher education or working to lower interest rates for student loans, your plan kicks the can down the road and makes today's problems worse for tomorrow's students."
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