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The Department of Education’s proposed “Defense to Repayment Regulations” rule would force hardworking American families who never went to college or paid their own way to bail out those who borrowed money they couldn’t repay.  And it would spend billions of taxpayer dollars without a vote in Congress, which under our Constitution is supposed to have the power of the purse.

That’s bad enough, but the cost estimate provided by the Department of Education is so absurdly, comically bad that nobody can defend it with a straight face.  They say it will cost taxpayers “$1.997 billion in the lowest impact scenario to $42.698 billion in the highest impact scenario.”

The rule is currently being reviewed by the Office of Management and budget, which is supposed to require rigorous economic analysis.

 

Tell OMB to STOP this outrageous scheme to dump student loans on taxpayers!

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