President Joe Biden took fire for his decision to cancel hundreds of billions of dollars in student loan debt, but now Republicans are investigating whether Biden’s aides personally benefited from the decision.
House Committee on Oversight and Reform Ranking Member Rep. James Comer, R-Ky., and House Committee on Education and Labor Ranking Member Rep. Virginia Foxx, R-N.C., are leading the effort.
They sent a letter to the White House legal team demanding answers.
“We are investigating whether Biden Administration officials who worked on the student loan bailout will personally benefit from this financial windfall. It is unethical for public officials to craft policies from which they stand to benefit financially,” the letter said. “Despite reports that White House political appointees collectively owe millions in student loan debt, the Office of Government Ethics informed Committee Republicans that no White House official sought an ethics waiver to work on student loan bailout proposals. We write to request documents and information to determine whether Biden Administration officials have a conflict of interest in advocating for and enacting this massive government handout in which they or their family members would receive a financial benefit at the expense of American taxpayers.”
The letter said the decision raises major ethical questions.
“President Biden’s student loan bailout is a wealth transfer from hardworking Americans to highly educated, upper-middle-class graduates. This bailout will cost the average taxpayer over $2,000,” the letter said. “Many hardworking taxpayers do not hold a college degree or made difficult financial decisions to finance their degree either without borrowing from taxpayers or by paying off their student loans as promised. We are concerned that political officials may have committed serious ethics violations if they provided advice and counsel or drafted the bailout scheme from which they financially benefited.”