An analysis from the University of Pennsylvania's Penn Wharton Budget Model found that Biden's income-driven student loan repayment program may cost upwards of $559 billion over ten years.
Biden's earlier student debt relief plan, which proposed $10,000 debt relief for low-to-middle-income borrowers and $20,000 for Pell Grant recipients, was deemed unconstitutional by the Supreme Court in a 6-3 ruling.
"Ensuring that government follows the same nonaggression principle as law-abiding citizens is the key to a society of freedom, peace, and prosperity," writes Dr. Paul.
Members of the House Freedom Caucus on Friday outlined the conditions necessary to attain their vote for a raise on the national debt limit, including setting a cap on discretionary spending for 10 years, stopping President Joe Biden's student loan forgiveness plan, and pulling back the $80 billion approved late last year to expand the Internal Revenue Service.