DOVER, DE – On Monday, August 29, 2022, Senator Colin Bonini (R-Dover) issued the following statement in reaction to the Biden Administration’s announcement that up to $20,000 of student loan debt would be canceled.
“I strongly disagree with President Biden’s decision to cancel up to $20,000 in student debt. As do individuals who take out loans to purchase cars or obtain a mortgage, it is the borrower’s responsibility to pay back the money they were lent. What kind of message does this send to those who worked hard to pay off their loans or to folks who opted not to go to college because of the high cost? Transferring the debt from the debt holders to the taxpayers is horrible policy and sets a terrible precedent.
“Additionally, President Biden does not have the constitutional authority to take such an action. Just a year ago, Speaker Nancy Pelosi stated, ‘People think that the President of the United States has the power for debt forgiveness. He does not…’ She went on to note that canceling student debt would require an act of Congress. Only Congress has the ‘power of the purse’.
“Now, one year later, he has done just that. During a time of high inflation and economic uncertainty, adding additional debt to the backs of taxpayers is the last thing this administration should be doing.”
Senator Bonini represents the 16th Senate District, which encompasses south Dover, Camden-Wyoming, Frederica, and Magnolia.
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