The Government Accountability Office recently determined that President Biden’s student loan forgiveness plan meets the federal definition of a rule under the Congressional Review Act, opening the proposal to Congressional review. Subsequently, House and Senate Republicans intend to introduce a resolution to overturn the plan.  A simple majority vote in both houses of Congress would block the administration from moving forward with the plan regardless of the outcome of the Supreme Court cases.
 
The GAO’s decision, released March 17, concluded the debt relief plan is considered a rule because it has a future effect, implement law and policy, and that the waivers and modifications of the Higher Education Relief Opportunities for Students Act of 2003 were published in the Federal Register.
 
In addition, the online loan company SoFi has launched a campaign to stop the continuing pause in student loan payments due to the pandemic because it is having a significant impact on its business.
 
Details on these developments from the national media can be found below.
 
 
Senate Republicans Seek to Block Biden’s Debt-Relief Plan
Inside Higher Ed (March 20, 2023)
 
Cassidy Gears Up to Fight Biden’s Student Debt Relief
Politico.com (March 20, 2023)
 
Senate Republicans Will Try New Maneuver to Block Biden’s Loan Forgiveness Plan
Higher Ed Dive (March 20, 2023)
Senate Republicans Push for Vote to Block Biden’s Student Debt Relief
Politico Pro (Subscription required) March 18, 2023
 
‘Enough — It’s Hurting Our Business’: SoFi’s Campaign to Stop the Student-Loan Payment Pause That Helps Its Own Customers
MarketWatch (March 19, 2023)
 
Republican Senators Move to Overturn Biden’s $400 Billion Student Debt Relief ‘Gambit’
New York Post (March 17, 2023)
 
A New Federal Student Loan Program Will Move Millions Toward Forgiveness
The New York Times (March 17, 2023)