Political Quotes

“on another topic, last week, President Biden did something he has done only five times: He vetoed a resolution passed by Congress. And let me say: Thank goodness. The proposal he vetoed would have blocked the administration's student loan forgiveness program. This program will be a financial lifeline for millions of student borrowers across the country so that working Americans can start a business, buy a first home, or, simply, keep a roof over their heads. And there is one group of student borrowers in particular who are in desperate need of this financial relief: That is the hundreds of thousands of students who have been ripped off by for-profit colleges. Just listen to this: Even though for-profit colleges enroll only 8 percent of college students, they account for 30 percent of all Federal loan defaults. Thankfully, just a few weeks ago, the Biden administration took another crucial step to support these student borrowers. The Department of Education announced that it will reinstate what is known as the gainful employment rule--or the GE rule. This rule would create accountability standards for for-profit colleges to qualify for Federal student aid. If they want to receive taxpayer dollars--in the form of Federal student aid--then they need to meet their statutory obligation to prepare students for gainful employment. I don't think that is too much to ask.…”