Joe may have a significant uphill legal battle if he wants to cancel student debt.
According to a report from Breitbart News, Elaine Parker, President of the Job Creators Network Foundation, has called the Joe Biden administration’s student loan bailout “an unprecedented executive power grab,” and plans to sue the administration to stop the handout from happening.
The organization has filed a lawsuit in the District Court for the Northern District of Texas, Fort Worth Division.
“Our lawsuit intends to block the Biden administration’s student loan bailout, which is an unprecedented executive power grab. The administration’s action does nothing to address the root cause of unaffordable tuition: greedy and bloated colleges that raise tuition far more than inflation year after year while sitting on $700 billion in endowments,” Parker said in a statement.
“Colleges need to be held accountable for their outrageous tuition prices that fund high executive pay, an army of administrators who provide little-to-no value, and the construction of resort-style amenities. College endowments, not taxpayers, should be responsible for helping students drowning in debt.”
From Breitbart News:
President Biden’s plan would cancel $10,000 to $20,000 in student loan debt for those making less than $125,000 annually. Biden, in August, touted the move as giving “working and middle-class families breathing room.” But polls show the country is split on the issue. In September an Economist/YouGov poll showed half of the 1,500 adults asked said the bailout is unfair to Americans who did not attend college.
"The conservative-run Job Creators Network Foundation, argues @POTUS violated federal procedures by failing to seek public input. One of a handful of lawsuits filed by #conservative business groups, attorneys and #Republican lawmakers in recent weeks."https://t.co/9nwQ7o6BkD
— Steven Harp (@StevenHarp_) October 10, 2022