In response to President Biden’s proposal for a massive student loan bailout, Heritage Action for America has launched a petition urging Americans to fight back by submitting public comments to the Biden Administration. The groups petition, which can be found here has already garnered significant attention, with over 13,400 public comments submitted thus far. Heritage Action has a goal of 20,000 publicly submitted comments by May 17, the deadline to submit public comments on Biden’s recently announced student loan bailout that is projected to cost from $250-750 billion, according to the Committee for Responsible Federal Budget.
The group argues that forgiving student loan debt is not the solution to the underlying issues of rising tuition costs and the burden of student loan debt. Instead, they advocate for policies that promote fiscal responsibility and address the root causes of the problem.
According to Heritage Action, the Biden administration’s plan to forgive student loan debt shifts the burden of student debt onto millions of Americans who:
– Never went to college
– Already paid off their loans
– Worked through college to graduate with minimal to no debt
Combined with Biden’s previous efforts, taxpayers could bear the cost of up to 30 million borrowers. The move has sparked significant backlash from conservative advocacy groups like Heritage Action for America.
Among the unfairness of shifting the burden of a student loan bailout to those who didn’t go to college, people who paid off their loans and those who worked through college to pay for it, the petition highlights the legal and fiscal argument against Biden’s student loan bailout.
Lawsuits Against Biden’s Student Loan Forgiveness
Lawsuits from Missouri and Kansas continue to serve as a reminder that student loans remain Congress’s prerogative and Biden’s executive action is unconstitutional.
Supreme Court Rejection
It’s worth noting that Biden’s student loan forgiveness was already rejected by the Supreme Court. Heritage experts have emphasized that the Supreme Court’s decision halts Biden’s abuse of administrative powers regarding the student loan bailout. You can find more information [here](https://www.heritage.org/press/heritage-experts-supreme-court-halts-bidens-abuse-administrative-powers-student-loan-bailout).
Impact on the Deficit
Canceling student loans would exacerbate the deficit. According to the Committee for a Responsible Federal Budget, the student debt plan would add hundreds of billions to the deficit.
If you’ll like to submit comments on Biden’s directly to the Regulations.gov portal you can do so here.