130 Republicans Urge Biden to Withdraw $147 Billion Student Loan Bailout

A group of 130 Republicans in Congress is demanding that the Biden administration withdraw its plan to cancel $147 billion of federal student loan debt. They argue that it is unfair for Americans who didn’t borrow or have already paid off their loans. This debt cancellation plan, popularly called “Plan B,” has been in the works since last summer, when the U.S. Supreme Court ruled that President Joe Biden overstepped his authority when he tried to use the COVID-19 public health emergency as an excuse to erase up to $20,000 for each eligible borrower. As many as 43 million Americans were expected to have benefitted from the $430 billion plan, with almost half of them having all of their student loans wiped out....