Job Creators Network Foundation Reacts to Biden’s New Student Debt Bailout

Elaine Parker, president of Job Creators Network Foundation, released the following statement on the Biden Administration’s new student loan bailout program: 

“The Biden administration is lawlessly ignoring the Supreme Court and Congress by launching another massive student loan bailout program. The Supreme Court ruled last year that mass student loan cancellation is unconstitutional, but Biden has made it clear that he won’t respect this decision. He is acting as a King, not a president. 

“As a policy matter, this bailout suffers from the same fundamental problem as the first one: it does nothing to hold colleges accountable for their role in overcharging students. Forgiving student debt only gives colleges a blank check to keep on raising tuition at more than twice the inflation rate, knowing that taxpayers will pick up the tab. This does nothing to address the college debt crisis and will only saddle future generations with even more debt in the years to come. It is nothing more than a vote-buying exercise heading into election season.”