Cotton demands transparency on Biden’s plan to transfer student loan debt to taxpayers

FOR IMMEDIATE RELEASE
Contact: James Arnold or Marie Collins Atkinson (202) 224-2353
May 3, 2022

Cotton demands transparency on Biden’s plan to transfer student loan debt to taxpayers

washington d.c. – Today, Sen. Tom Cotton (R-Arkansas) sent a letter to Secretary of Education Miguel Cardona demanding transparency regarding the Biden administration’s deliberations on the transfer of more than $1.5 trillion from student loan debts to taxpayers.

In part, Cotton wrote, “I am strongly opposed to the cancellation of student debt. It’s an insult to the majority of Americans who chose not to go to college, a handout to the wealthy and well-connected, and a free prison pass for universities that charge tuition and fees. unduly high.

“Cancelling student debt would also exacerbate the rising inflation that is crushing working-class Americans – the very people who would be tasked with bailing out college-educated Americans under this policy,” The cotton continued.

The text of the letter can be found here and below.

The Honorable Miguel Cardona
Education Secretary
Ministry of Education building
400 Maryland Ave, SW
Washington, D.C. 20202

Dear Secretary Cardona,

I am writing to demand transparency regarding the Biden administration’s deliberations on forgiveness of over $1.5 trillion in student loan debt.

Last April, the Department of Education’s General Counsel’s Office wrote an analysis of the legality of debt cancellation through an executive action titled “The Secretary’s Legal Authority for Cancellation large scale debt. More than a year later, the unredacted memorandum has still not been made public. I request that you please send me a fully unredacted copy of this legal memorandum by May 20, 2022.

I am strongly opposed to canceling student debt. It’s an insult to the majority of Americans who chose not to go to college, a handout to the wealthy and well-connected, and a free prison pass for universities that charge tuition and fees. unjustified. Canceling student debt would also exacerbate rising inflation that is crushing working-class Americans — the very people who would be tasked with bailing out college-educated Americans under this policy. With such fundamental justice issues and more than a trillion dollars at stake, Americans are entitled, at a minimum, to understand the legal justification for such action.

Thank you for your attention to this important subject.

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