House GOP debt limit plan would block Biden’s student loan agenda, prohibit future relief

 House Republicans’ plan to raise the debt limit would block President Joe Biden’s signature student debt cancellation program and take a hammer to his administration’s other student loan policies. The bill unveiled on Monday by Speaker Kevin McCarthy and GOP leaders would nullify Biden’s plan to cancel up to $20,000 of debt per borrower and end the freeze on monthly payments and interest. McCarthy, speaking on the House floor on Wednesday, touted the plan as blocking Biden’s “student loan giveaway for the wealthy.” He said the repeal of student debt relief “will protect the 87% of adults without student loans for paying the loans of the 13% who do.” The legislation would also bar the Biden administration from moving forward with a new income-driven repayment plan that cuts monthly payments for most borrowers and shortens the timeline to loan forgiveness for some borrowers.


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