Job Creators Network Responds to Federal Appeals Court Terminating Biden-Era Student Loan Bailout Workaround

Job Creators Network Responds to Federal Appeals Court Terminating Biden-Era Student Loan Bailout Workaround:

Elaine Parker, President of Job Creators Network Foundation, released the following statement in response to a federal appeals court terminating the SAVE plan, a Biden-era student loan bailout workaround:

“The Trump administration and the federal judiciary have protected taxpayers and started the process of holding colleges accountable for outrageous costs by terminating the Biden-era SAVE plan. This program was a Biden administration student loan bailout workaround following the Supreme Court’s strike-down of the administration’s original loan forgiveness plan in response to a lawsuit filed by Job Creators Network Foundation. The SAVE program would have cost taxpayers $342 billion — almost as much as the original illegal debt cancellation plan.

“Now that the loan forgiveness charade is finally over, the process of making colleges justify their ridiculous costs can begin. Families are already beginning to think twice about paying these outrageous costs, but Republicans should continue advancing legislation to give colleges financial skin in the game by sharing loan risk with the federal government. Only when colleges are financially responsible for the success of their students will traditional colleges become highly valuable to ordinary families again.”