Senator Joni Ernst (R-Iowa) released the following statement after the Supreme Court ruled that President Joe Biden’s $400 billion student loan bailout is illegal.
“The Supreme Court rightly ruled that President Biden’s student loan socialism is illegal. His bailout forced Iowans who chose to go straight into the workforce or pay for their own education to foot the bill for others’ degrees, fanned the flames of inflation, and added to our skyrocketing debt. Today’s decision is a win for our economy and hardworking Iowans,” said Ernst. “I will continue fighting to provide students and their families with tools upfront to see the true costs associated with their education and to help them make informed decisions about their future.”
Ernst co-led a Congressional Review Act (CRA) resolution to overturn President Biden’s scheme and end the pause on student loan payments.
Ernst called on the Supreme Court to take action in an amicus brief by arguing that the administration’s plan to cancel federal student loan debt is executive overreach and ignores the constitutional separation of power between Congress and the President.
Ernst has supported and introduced several bipartisan bills to provide transparency behind the costs of college, including the bipartisan STUDENT Act to give students a clear estimate of the costs they would owe down the road, and The Understanding the True Cost of College Act which creates a universal financial aid award letter so that students could easily compare financial aid packages between schools.
