South Michigan News

Rep. Andrew Fink has reintroduced a resolution in the House of Representatives, urging Congress to terminate the federal student loan program. Fink argues that the current administration is attempting to transfer the burden of unpaid student loans onto taxpayers, many of whom did not attend college.

“The current presidential administration irresponsibly seeks to place the burden of unpaid student loans on the American taxpayers, most of whom did not attend college,” Fink stated. “Despite pushing this widely unpopular policy, they continue to issue more student loans.”

Following a pause in student loan payments until last October, efforts by the Biden administration have resumed to suspend or potentially cancel loan repayments permanently. Since Fink's introduction of a similar resolution two years ago, student loan debt has significantly increased. In the United States, around 43 million borrowers owe over $1.7 trillion in federal student loan debt.

Fink also highlighted his concern about rising tuition costs as another consequence of federal education subsidies. Tuition fees at American colleges and universities have more than doubled since 1980, affecting all students regardless of whether they incur loans.

“When even the biggest proponents of the federal student loan program admit that it’s creating a financial crisis, it should be apparent to our elected leaders in Washington that the country would be better off without it,” Fink said. “Congress must accept that the federal student loan program is now counterproductive and a disservice to all Americans.”

The proposal is identified as House Resolution 288.