New Cassidy bill would block canceling student loan debt, end repayment pause

It will prevent canceling outstanding student loan balances
Published: May. 4, 2022 at 6:04 PM CDT
Email This Link
Share on Pinterest
Share on LinkedIn

MONROE, La. (KNOE) - Senator Bill Cassidy has introduced the Stop Reckless Student Loans Action Act, which will prevent the Biden administration from canceling outstanding student loan balances and keep future administrations from pausing student loan payments.

“The pause in repayment has caused taxpayers about $5 billion per month. This is not the appropriate amount for Congress. It’s something the executives are doing and in my mind, this should be considered unconstitutional but forgiving student loan debt doesn’t solve the issue it just restarts the clock, and we’re back in the same place in ten years.”

Cassidy says people who didn’t take out loans shouldn’t be stuck picking up the tab for those who did.

Click here to see the full bill and what it aims to do.

Copyright 2022 KNOE. All rights reserved.