Job Creators Network Comments on Restart of Student Loan Payments

Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement regarding the Oct. 1 restart of student loan payments:

“After a three-and-a-half-year holiday, student loan borrowers must restart their payments on Oct. 1. Borrowers should direct their ire at those responsible for saddling them with these massive debts: unaccountable collages that overcharge students. Colleges have raised their costs at twice the rate of inflation in recent decades in order to pay for an army of administrators, campus building booms, and seven-figure president and athletic coach salaries. 

“President Biden’s efforts to forgive student loans, including his $430 billion bailout blocked by the Supreme Court due to a lawsuit filed by Job Creators Network Foundation, will only exacerbate the debt problem by giving colleges a blank check to keep on price gouging. His de facto student loan bailout, which comes in the form of a dramatically expanded income-driven repayment plan, does not hold colleges accountable for their role in the crisis and will do nothing to stop future generations from accumulating massive debts. 

“Borrowers facing renewed student loan bills in October should join with JCN to demand colleges dramatically reduce their prices. As a first step, legislators should haul college presidents before Congress to explain their outrageous tuition hikes that have saddled so many Americans with huge debts. Borrowers should also support commonsense Congressional legislation called the “Lowering Education Costs and Debt Act” to address the root of the problem.”