Nearly half of U.S. governors write to Biden demanding withdrawal of student loan forgiveness plan

Twenty-two Republican governors have signed a letter calling for the withdrawal of a student loan forgiveness plan sent to President Joe Biden.

In a letter dated Monday, the governor wrote that he “fundamentally opposes[Biden’s]plan to force U.S. taxpayers to pay off the student loan debt of an elite minority.”

Republicans, including Texas Gov. Greg Abbott and Florida Gov. Ron DeSantis, also argued that Biden’s plan would harm low-income families, stating that “hourly workers are the equivalent of high-paid lawyers, doctors and professors.” Master’s and Ph.D…. Simply put, your plan rewards the rich and punishes the poor.”

Biden delivered an important campaign promise late last month by announcing that he will cancel At least $10,000 in student loan debt for millions of federal borrowers and $20,000 to Pell grant recipients.

“No Debt and No Degree”: Biden cancels up to $20,000 in student loan debt: recap

How do I get my student loan forgiven? He said he was eligible for Biden debt relief.

Monday’s letter argues the president’s move will benefit wealthy Americans, but Biden said his plan’s income-based eligibility would benefit those who need it most, especially the middle class and Borrowers earning less than $125,000, or households earning $250,000 or less, are eligible for $10,000 forgiveness and up to $20,000 in debt relief. , aimed at low-income Pell Grant recipients.

“Education is the ticket to a better life…but as time goes on, that ticket is too expensive for too many Americans” Biden Said on August 25th“It may be too much of a burden, and even if you graduate, you won’t be able to access the middle-class life that a college degree once offered.”

While many applauded the president’s August move, other activists need more relief – Previous pressure from progressive Democrats, unions and liberal groups had pushed Biden to cancel at least $50,000 in student loans.

Biden’s announcement also sparked Republican attacks, with many Republicans blaming the president for the potential impact the bailout would have on the economy and for those who had already paid off their student loans.

Need for further relief: Debt relief is life-changing for some with student loans, but it’s not enough for others.

Governor DeSantis: Student loan forgiveness alienates ‘people who went and did the right thing’

“At a time when inflation is so high because of your unprecedented tax and spending agenda, your plan will encourage more student borrowing, encourage higher tuition rates, push inflation even higher, and all of Americans, the governor said in a letter Monday.

In contrast, Mr. Biden argued in August that the plan was “financially responsible.” pointing to “A real benefit to the family without any meaningful impact on inflation.”

In the letter, the governor also said Biden’s loan forgiveness plans are estimated to cost a total of $600 billion, averaging $2,000 per taxpayer.

However, these estimates fluctuate among experts.After Biden’s August announcement, the White House said the plan would be costly about $240 billionThe Wharton School of the University of Pennsylvania Estimate $469 billion to closer to $519 billion.

Borrowers may have relief in some states. also face tax increases.

more: The White House expects the student loan plan to cost $240 billion. Experts say it will double.

Tax on loan forgiveness? Federal student loan forgiveness may be taxed as income in some states

Here is the list of the 22 Republican governors who signed the letter asking Biden to withdraw his student loan forgiveness plan.

  • Alabama Governor Kay Ivey

  • Alaska Governor Mike Dunleavy

  • Arizona Governor Doug Ducey

  • Arkansas Governor Asa Hutchinson

  • Florida Governor Ron DeSantis

  • Georgia Governor Brian Kemp

  • Idaho Governor Brad Little

  • Iowa Governor Kim Reynolds

  • Maryland Governor Larry Hogan

  • Missouri Governor Mike Parson

  • Governor of Montana Greg Gianforte

  • Nebraska Governor Pete Ricketts

  • New Hampshire Governor Chris Snunu

  • North Dakota Governor Doug Burgum

  • Ohio Governor Mike DeWine

  • Oklahoma Governor Kevin Stitt

  • South Carolina Governor Henry McMaster

  • South Dakota Governor Christy Noem

  • Tennessee Governor Bill Lee

  • Texas Governor Greg Abbott

  • Utah Governor Spencer Cox

  • Wyoming Governor Mark Gordon

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Contributors: Chris Quintana, Maureen Groppe, Ella Lee, USA TODAY.

This article originally appeared on USA TODAY. 22 Republican Governors Call on Biden to Withdraw Student Loan Forgiveness