Department of Education bails out of student loan bailout

For the second time in the past month, the Biden administration withdrew a proposed rule that CEI had opposed. The Department of Education has issued a notice announcing the withdrawal of its proposal to adopt a muddled rule providing for the cancellation of student loans in cases of hardship. The Department stated in its notice that it reviewed the 14,735 written comments that it had received concerning the proposal. Perhaps then, the Department took seriously CEI’s comment explaining that the proposed rule was unconstitutional, wasteful, and poorly drafted.

CEI welcomes the Department’s sudden benevolence toward taxpayers and again looks forward to ever more common governmental inaction.