SAVE Student Loan Bailout is a Vote-Buying Exercise that Doesn’t Get to Root of Problem

Elaine Parker, president of Job Creators Network Foundation, released the following statement in response to the news that four million student loan borrowers have signed up for the Biden administration’s SAVE student loan repayment program:

“The Biden administration’s SAVE income-driven repayment plan is nothing more than a de facto student loan bailout and a vote-buying exercise. The program allows millions of student loan borrowers to pay nothing or next-to-nothing in repayments, in violation of the Supreme Court and Congress. To actually fix the student loan crisis and meaningfully help students, the Biden administration should address the root of the problem: unaccountable colleges that overcharge students. Colleges have raised tuition by more than twice the rate of inflation over the past couple of decades with no regard for students. Congress should haul college presidents before Capitol Hill to explain these overcharges. The SAVE program, by contrast, merely gives colleges a blank check to keep on price gouging.”