Rep. Glenn Grothman (R-WI) introduced a bill in the House earlier this month to get federal student loan policies under control. He says that he is experiencing significant backlash from educational institutions that benefit from the flow of federal funds to finance their operations.
The bill is titled the Fairness for Responsible Borrowers Act. It is designed in part to remove the Biden administration’s claim to authority to cancel all student debt. The bill has 13 co-sponsors in the House.
While inflation crushes the American people, Joe Biden wants to "forgive" student loan debt by transferring the burden to the taxpayers.
My bill prohibits the President from abusing his authority to score a political victory by canceling student debt. https://t.co/zrGorrkUbg
— Rep. Glenn Grothman (@RepGrothman) August 2, 2022
In his statement announcing the bill, Grothman said that if Joe Biden were to announce even $10,000 in student loan forgiveness per borrower, the Committee for a Responsible Budget has estimated that would cost American taxpayers $250 billion.
Grothman appeared on the Thursday broadcast of “Prime News” on Newsmax and discussed how his bill has been supported by some tech schools and universities while others have been highly critical because easy access to excessive student loans is their “selling point.”
He added that it “doesn’t say much” for the education industry that schools encourage students to take on unmanageable debt. He added that is unfortunately what he has found as he discussed the reform bill with institutions in his congressional district.
Grothman represents Wisconsin’s 6th district which includes the city of Oshkosh and the area north of Milwaukee and Madison. He has served in the House since 2015. He last won reelection in 2020 with 59.2% of the vote.
He told Newsmax that excessive student debt obligations are creating huge cultural problems for young Americans. He pointed to lower marriage rates and home ownership among young adults saddled with student debts.
He said that in an ideal situation, people should be married by the time they are around 24 or 25 years old and should be starting families with kids and buying a house. “But you can’t do that if you’re laying on 40- or 50- or 60,000 dollars of student loan debt,” he added.
Grothman said that in today’s country, young people should “sit down with a financial expert” to see if they can expect to pay off the cost of college and a graduate degree.
Grothman said that the idea of forgiving student loans across all income levels is “particularly insulting to Americans who paid their loans or never attended college.” He said that those people “deserve an explanation.”