NCLA Tells Department of Education Its Newest Student Loan Debt Cancellation Plan Is Unlawful

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NCLA submitted comments urging the U.S. Department of Education to abandon its latest proposed rule that would unconstitutionally cancel $147 billion of federal student loan debt owed to the Treasury by an estimated 27.6 million borrowers. The plan even proposes to bestow about $19 billion of that on about 750,000 student loan debtors whose average annual household income exceeds $300,000! Outrageously, that sum means American taxpayers would give more than $25,000 apiece to debtor households making over $300,000 per year. Congress has repeatedly declined to erase such debt, and the Department of Education lacks legal authority to do so unilaterally.

NCLA calls for an end to this latest Biden Administration attempt at subverting the rule of law to erase student loan debt.
NCLA's Sheng Li joins Mark, Vec and Jenin to discuss the comments.

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