Advocacy groups are warning lawmakers of the dire consequences overturning student-debt relief would have on millions of borrowers — ahead of a potential vote to do just that this week.
On Friday, a spokesperson for House education committee chair Virginia Foxx confirmed to Insider that the committee will be marking up — and likely voting on –In March, GOP Senators Bill Cassidy, John Cornyn, and Joni Ernst, along with Rep. Bob Good in the House,to cancel up to $20,000 in student debt using the Congressional Review Act, an oversight tool Congress can use to overturn final rules put in place by government agencies.
"If successful, these CRA efforts would immediately force tens of millions of borrowers into abrupt and unplanned repayment with devastating effects, including adding thousands of dollars of payments and interest onto their loan balances," the groups, including the NAACP and AFL-CIO, wrote. "It will also force the Department of Education to unwind loans forgiven under Public Service Loan Forgiveness for first responders, nurses, educators, servicemembers, and hundreds of thousands of other public service workers across the country," they continued."These actions are a clear attack on millions of the most vulnerable workers and families who are still reeling from the devastating impact of COVID-19.