Thursday on Fox Business Network's "Kudlow," U.S. Sen. Katie Britt (R-Montgomery) discussed President Joe Biden's student loan forgiveness plan and called it "completely unacceptable, totally reckless and unethical."
"This is just the continued hypocrisy of the Biden administration," Britt told host Larry Kudlow. "They believe that those are the expectations when you take out those kinds of loans, but they want a different set of rules for student loans."
Americans now owe almost $1.75 trillion in student loans. Through an executive order, Biden created a debt forgiveness plan in August 2022, two months before last year's midterm elections.
If approved, the plan would forgive up to $20,000 in federal student loan debt to Pell Grant recipients and up to $10,000 to all other federal student loan borrowers with individual incomes less than $125,000 or household incomes less than $250,000.
After state attorneys general challenged the legality of the plan, lower courts placed it on hold. The Biden administration initially paused student loan payments and interest during the COVID-19 pandemic and has since extended the moratorium again several times. Currently, payments and interest are set to resume by the end of June.
Last week, U.S. Department of Education Secretary Miguel Cardona reassured loan payments would resume on that date.
Economists have suggested that the widespread availability of student loans has been a key driver in rising tuition costs.
"The truth is, we know that Biden's plan is not a forgiveness plan," Britt said. "It is a transfer plan. What it's doing is taking the debt from some U.S. citizens and shifting it over to others."
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