Ranking Member Scott: President Biden’s Student Debt Relief Plan Would “Deliver Life-Changing Support for the Borrowers Who Need It Most”
WASHINGTON – Today, Ranking Member Robert C. “Bobby” Scott (VA-03) released the following statement ahead of the Supreme Court’s session to hear oral arguments on President Biden’s student debt relief plan.
“A college education should not depend on how much money a student’s parents make. Yet, the rising cost of tuition, decades of disinvestment in higher education, and the declining relative value of the Pell Grant have left many student loan borrowers with burdensome debt.
“That’s why I support President Biden’s student debt relief plan to deliver life-changing support for the borrowers who need it most. In fact, 90 percent of the student loan relief would go to borrowers who make less than $75,000 a year.
“Unfortunately, Republican politicians are denying borrowers—including an estimated 140,000 borrowers in my home district—the relief they need to make ends meet. Regardless of these political challenges, I will continue working to solve the underlying problems that caused the student debt crisis in the first place.
“Soon, I will join my colleagues to reintroduce legislation to bring down the cost of college for students and families. The Lowering Obstacles to Achievement Now (LOAN) Act would double the Pell Grant, improve the Public Service Loan Forgiveness program, lower interest rates, and make other critical reforms to make our student loan system work for students.
“Simply put, by making loans cheaper to take out and easier to pay off, the LOAN Act will help improve the lives of student loan borrowers—both now and in the future.”
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