Pictured: Sen. Grassley addresses constituents while speaking at Western Iowa Networks Monday afternoon.
Following President Biden’s announcement last week that the federal government would forgive a portion of qualified student loan debt, Iowa Senator Chuck Grassley is questioning the implications of the administration’s decision. Individuals with an annual income under $125,000 will have $10,000 of their federally held debt forgiven. That figure jumps to $20,000 for students who previously qualified for Pell Grants while in school. According to Grassley, Democrats and Republicans agreed as recently as a few months ago that the president lacked the authority to approve broad student loan forgiveness.
He notes emergency powers granted to the president in response to the COVID-19 pandemic opened the door for student loan forgiveness. However, Grassley says President Biden has been inconsistent on how serious COVID still is, depending on how it fits into his agenda. He cites the use of Title 42 at the border as an example.
Grassley says it is much more than a legal question. According to him, asking Americans to pay for other people’s debt is simply unfair. He says it can lead to a slippery slope for all types of debt.
He adds the move does not address the root cause of historically high student loan debt: rapidly rising tuition costs. One solution Grassley has proposed is to make colleges and universities responsible for at least a portion of unpaid student loans.
Grassley says he hopes student loan forgiveness is a one-time thing but points out that there is nothing to stop it from happening again now that the precedent has been set. Grassley made his comments Monday during a stop in Carroll on his 99-county tour.
