Ernst Leads Effort to Save Taxpayers $300 Billion by Blocking Biden’s Student Loan Scheme

WASHINGTON – Today, U.S. Senator Joni Ernst (R-Iowa) voted to save taxpayers more than $300 billion by overturning President Biden’s pause on student loan payments. The resolution – co-led by Ernst – passed the Senate with bipartisan support.

“Biden’s student loan transfer is unaffordable and unfair, strapping the debt of those who chose higher education onto the backs of those who did not,” said Ernst. “I’m grateful the Senate came together to fight this socialist scheme and do what’s right for hardworking taxpayers across the country.”

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Background:

In February, Ernst joined 41 of her colleagues in filing an amicus brief to the Supreme Court challenging the Biden administration’s student loan cancellation program, which they argue circumvents the authority of Congress.

In March, Ernst co-led 46 Republican colleagues in introducing a Congressional Review Act (CRA) resolution to overturn President Biden’s scheme and end the pause on student loan payments, which cost taxpayers billions a month and was extended six times since the start of the pandemic.

Ernst has supported and introduced several bipartisan bills to provide transparency behind the costs of college, including the bipartisan STUDENT Act to give students a precise estimate of the costs they would owe down the road, and The Understanding the True Cost of College Act which creates a universal financial aid award letter so that students could easily compare financial aid packages between schools.

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