Senate Repubs Bill Stops Student Debt Cancellation

Republican Florida Sen. Rick Scott introduced legislation Thursday that would prevent the mass cancellation of student loan debt in the U.S., something the Biden administration is reportedly considering.The Debt Cancellation Accountability Act, first obtained by the Daily Caller, would require the U.S. Department of Education to obtain appropriation from Congress to pay for any federal student loan debts they try to waive, discharge or reduce whenever granted to two or more people borrowing an amount greater than $1,000,000, instead of a case-by-case basis.The Biden administration is reportedly looking to take executive action to forgive $10,000 per borrower, or maybe even more. The move would clear $321 billion of federal student loans and clear the student debt for almost 12 million people, according to CNBC. However, Republicans say canceling student debt would just put the responsibility on hardworking, taxpaying Americans. “The Biden administration’s latest move to cancel millions of dollars in student loans is yet another example of how far it will go to appease the radical left. The reality is, a blanket forgiveness of student loans only benefits a small percentage of the population at the expense of millions of other hardworking Americans. Those wh …