11.15.23

Hoeven Votes for Resolution to Repeal Biden Administration’s Costly Student Loan Repayment Overhaul

WASHINGTON – Senator John Hoeven today issued the following statement after voting for a Congressional Review Act (CRA) resolution of disapproval to repeal the Biden administration’s costly student loan repayment overhaul. Under the administration’s plan, taxpayers would pick up the full cost for nearly two-thirds of student loan borrowers. The resolution was blocked by a vote of 49-50.

“There are real steps we can take to help workers pay off their student debt, get assistance to those who need it and make college more affordable. However, this costly and overbroad proposal from the Biden administration would provide blanket loan forgiveness regardless of ability to pay while requiring taxpayers and those who already paid back their loans to pick up the tab,” said Hoeven.

Hoeven has worked to advance measures that will improve the affordability of higher education while giving workers more options to help repay their student loans. His efforts include:

  • Cosponsoring the following legislation:
    • Employer Participation in Repayment Act, which was signed into law and allows employers to provide tax-free student loan repayment up to $5,250 per year.
    • Jumpstart Our Businesses by Supporting Students (JOBS) Act, a bill to make Pell grants more flexible by extending Pell eligibility to students pursuing high-quality, shorter-term job training programs that meet regional workforce needs.
  • As a member of the Senate Appropriations Committee, working to ensure strong support for Pell grants to help get financial assistance for higher education to those who need it most.

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