Press ReleaseDecember 4, 2023

Job Creators Network Urges Congress to Pass H.J. Res. 88 to Stop Biden Administration’s Back-Door Student Loan Bailout

Alfredo Ortiz, president and CEO of Job Creators Network released the following statement urging support of the House of Representatives upcoming vote on H.J.Res. 88, a congressional resolution disapproving of President Biden’s federal rule that dramatically expands who qualifies for the Income-Driven Repayment program for student loans:
“The Biden Administration’s Income-Driven Replacement rule increases the share of student loan borrowers’ exempted income to 225 percent of the federal poverty line and is estimated to cost American taxpayers $559 billion. Ever since the Supreme Court blocked President Biden’s illegal $430 billion bailout in response to a lawsuit filed by the Job Creators Network Foundation, his Administration has spent all of its energy trying to skirt the law and further fuel the student loan crisis instead of trying to fix it. JCN supports solutions that would drive down the price of college and hold university and college presidents to account for their role in the high cost of higher education today and the hundreds of billions of dollars of student debt it creates.”