Republicans try to stop Biden's new, more affordable student loan repayment plan
Publishing timestamp: 2023-09-06 13:38:37
Summary
GOP senators introduced a resolution to block Biden's new student loan repayment plan called SAVE. The plan aims to reduce loan bills for borrowers, but Republicans argue that it shifts the burden to those who didn't take out loans. The Department of Education announced that over 4 million people have already signed up for the program. Consumer advocates criticize the GOP's efforts to roll back the plan, while the Education Department argues that it is necessary to prevent a rise in delinquencies and defaults. The Congressional Review Act allows Congress to block new regulations, but the president can veto the resolution.
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Keywords: business news, social issues, breaking news: politics, education, breaking news: investing, investment strategy, government and politics, joe biden, personal finance, wells fargo & co, john thune, politics,
Source: https://www.cnbc.com/2023/09/06/republicans-try-to-stop-bidens-save-student-loan-repayment-plan.html