In 2016, the Obama administration created a Borrower Defense rule that was disguised as an anti-fraud program, but really served as a loan forgiveness campaign costing taxpayers $40 billion. The current administration issued a new rule in 2019 that took steps to improve transparency for borrowers, hold institutions accountable for misrepresentation, and ensure that students’ claims are treated fairly, while saving over $11 billion.
This Congressional Review Act (CRA) process for restoring the Obama Borrower Defense rule is effectively a gross step toward all student loan forgiveness. Of course, if an educational institution defrauds a student, it should be held accountable. The current administration’s rulemaking is sufficient in this endeavor.
Club for Growth Foundation’s Congressional Scorecard for the 116th Congress provides a comprehensive rating of how well or how poorly each member of Congress supports pro-growth, free-market policies and will be distributed to the public.