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Republicans try to stop Biden's new, more affordable student loan repayment plan - TL;DR CNBC

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 newssocial issuesbreaking news: politicseducationbreaking news: investinginvestment strategygovernment and politicsjoe bidenpersonal financewells fargo & cojohn thunepolitics

Source: https://www.cnbc.com/2023/09/06/republicans-try-to-stop-bidens-save-student-loan-repayment-plan.html


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