Sen. Cruz Issues Statement on Biden Admin's Illegal Studen Loan Debt Cancellation

Yesterday I issued the following statement in response to the Biden administration’s announcement that they will be rolling out a student loan debt cancellation plan beginning in January 2023. 

“The highest concentration of student loan debt is held by people in Washington, DC. This administration’s policy is to force blue collar workers and American families across the country to pay off the cost of a Washington bureaucrat’s college degree – it’s morally bankrupt. 

“This announcement is a gut punch to every hard working single mother who worked double shifts in order to pay for her own education, every parent who borrowed against their home to send their kid to college, Americans who sacrificed to make responsible financial decisions, and our nation’s veterans and service members who risked their lives to earn the G.I. Bill.

“Let’s be clear - there is no way to ‘cancel’ student debt. This will cost every taxpayer an average of $2100. Someone will pay the price for this policy and the price is likely to be felt by every American in the form of even higher inflation. This administration is exceeding its legal authority and illegally burdening hard-working Americans with debts they didn’t take on themselves.”