Press ReleaseJuly 14, 2023

Job Creators Network Foundation Slams Biden Administration’s Latest Student Debt Cancellation Workaround

Elaine Parker, president of Job Creators Network Foundation, released the following statement in response to the Biden administration’s decision to forgive $39 billion worth of student loans for approximately 804,000 Americans:

“Instead of respecting the Supreme Court’s decision blocking his student loan cancellation, Biden is committing more government overreach by launching this student debt forgiveness workaround. Biden is ignoring the will of the Supreme Court and Congress and acting like a king on this issue, which is little more than a vote-buying exercise. It’s clear the Biden administration is doing everything it can to work around the Supreme Court’s ruling.

“Biden’s latest plan ignores the root of the student loan crisis: unaccountable colleges that have raised tuition at double the rate of inflation over the past generation while sitting on $700 billion in endowments. This plan will only exacerbate the problem by giving a blank check to colleges to overcharge and letting them off the hook for their role in this crisis. JCNF is currently reviewing this plan and weighing its options to fight it.”