Ortiz, Parker: What Happens Now that Supreme Court Struck Down Biden’s Student Loan Handout Scheme

Alfredo Ortiz and Elaine Parker write for Fox News that the Supreme Court striking down Biden’s scheme to transfer student loan debt to taxpayers means  it’s time for Congress to hold colleges accountable for skyrocketing tuition costs:

The U.S. Supreme Court has struck down the Biden administration’s $400 billion student loan bailout in response to a legal challenge by Job Creators Network Foundation. This ruling sets the stage for long-overdue bipartisan action to address the underlying reason for this debt crisis: unaccountable colleges that have raised tuition by more than double the inflation rate over the last generation.

. . .

A student debt jubilee would have let colleges off the hook for their role in this crisis and given them a blank check to keep on raising costs, secure in the knowledge that the federal government will step in when debts get out of hand. Lawmakers can now begin to address the problem’s root.

The average annual tuition at private, nonprofit universities has grown to $50,000. As a result, American colleges are sitting on $700 billion in endowments. They are taking advantage of their “nonprofit” status and favorable opinion from Democrats and the media to price gouge ordinary Americans.

Read the rest of the article here.