Congress has already said that they were counting on the revenues from the student loan repayments to fund government.
So this is more of a political stunt. Congress has already been clear about the loans being required to be repaid or else government will be out of the revenues It needs to function.
The Republicans here are just using that as a flag to support their bill.
@itwasntme223 The income from student loan collections goes into the Treasury and is included in Congressional budgeting, just the same as any tax collections.
The clearest way of illustrating this is that student loans were included in the ACA as lawmakers were working to offset its costs.
You can find it in the legislation itself, but my quick search found this article that states:
> "The profits from student loans are divided as follows: $8.7 billion goes to pay for ObamaCare; $10.3 billion goes to pay down the federal debt; and $36 billion goes to Pell Scholarship grants."
https://thehill.com/opinion/columnists/dick-morris/151801-loans-subsidize-obamacare/