Proposes 50% of student loan defaults to fall on college.
Senator Josh Hawley proposed new legislation on Wednesday called “Make the Universities Pay Act” that intends to hold colleges and universities accountable for defaulted student debt. Senator Hawley proposed the bill to counter President Joe Biden’s plan to forgive a portion of federal student loans that was announced in August. The senator from Missouri acknowledges that student loan debt is a pressing issue for the United States.
Instead of giving away a trillion dollars to “prop up the system,“ Senator Hawley stated, “It’s time to put universities on the hook and give students the information they need to make informed decisions.” The legislation would require colleges receiving federal aid to pay 50% of any defaulted student loans, as well as bring more transparency to how effective their classes were for their graduates and their job prospects.
As the Lord Leads, Pray with Us…
- For Senator Hawley as he addresses the federal student loan debt issue.
- For his colleagues in the Senate as they consider his proposed legislation.
- For the president and his advisors as they seek to implement the loan forgiveness plan.
Sources: Business Insider, Daily Caller
