Westbank Louisiana News

WASHINGTON – U.S. Senator Bill Cassidy, M.D. (R-LA), ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, released a statement following a federal court's temporary block on a portion of President Biden’s income-driven repayment (IDR) scheme. This student loan policy allows many bachelor’s degree borrowers to have zero monthly payments and not repay the principal on their loans, potentially shifting up to $559 billion in student debt onto taxpayers.

Last year, President Biden announced the final IDR rule after the Supreme Court struck down his previous student debt scheme that aimed to transfer hundreds of billions of dollars in student loan debt onto taxpayers. In addition to Biden’s IDR policy, the administration has worked to implement other student loan initiatives costing taxpayers up to $1.4 trillion.

“Just like Biden’s other student loan schemes, this IDR policy does not ‘forgive’ debt. It transfers the burden of $559 billion in debt from those who willingly took it on to Americans who chose not to go to college or already sacrificed to pay off their loans,” said Dr. Cassidy. “These unfair, irresponsible policies from President Biden are nothing more than a cynical attempt to buy votes before the next election.”

While the Biden administration prioritizes its student loan policies, it has failed to properly implement the new Free Application for Federal Student Aid (FAFSA) program. These continued delays prevent students and families from accessing crucial financial aid information as they choose which college they can afford.

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