Nebraska Gov. Ricketts says Biden’s student loan plan will ‘negatively’ impact Americans

LINCOLN, Neb. (KLKN) – Nebraska Gov. Pete Ricketts and 21 other governors are opposing President Joe Biden’s student loan forgiveness plan.

The 22-governor coalition sent a letter to Biden on Monday regarding the president’s student loan plan.

Back in August, Biden announced he would eliminate $10,000 in federal student loan debt for borrowers with incomes below $125,000 a year.

“At a time when inflation is sky high due to your unprecedented tax-and-spend agenda, your plan will encourage more student borrowing, incentivize higher tuition rates, and drive up inflation even further, negatively impacting every American,” the coalition wrote.

The coalition claims Biden’s plan would cost taxpayers more than $2,000 each, or $600 billion total.

Ricketts and company also say that the plan is unfair to those who paid for college or went straight into the workforce following high school.

“For many borrowers, they worked hard, made sacrifices and paid off their debt,” the group wrote.  “For many others, they chose hard work and a paycheck rather than more school and a loan.  Americans who did not choose to take out student loans themselves should certainly not be forced to pay for the student loans of others.”

The coalition also called into question Biden’s authority to cancel student debts.

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