Nearly two dozen Republican governors sent a letter to President Joe Biden on Monday objecting to his student-loan forgiveness plan as a legally dubious way to shift the debt burden off wealthier professionals and onto poorer working families.

Iowa Gov. Kim Reynolds and the others said Biden will fuel inflation and accelerate borrowing with his push to cancel $10,000 in student debt for borrowers who earn less than $125,000 per year and $20,000 in debt for those who received Pell Grants.

They said the power to forgive debt rests with Congress, not the president, and the plan is unfair. Read Full Story

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