Biden’s student loan forgiveness plan divides elected officials, including Democrats.
Elected officials were divided this week over President Biden’s announcement of student loan forgiveness not only along party lines but also within the Democratic Party.
Mr. Biden’s action would cancel a $10,000 loan for Americans earning less than $125,000 per year and $20,000 for low-income students who receive Pell grants. Many Democrats praised the plan as needed relief for borrowers. But some progressives said it didn’t go far enough, and some centrist and candidates facing tough election campaigns said it was too broad. Republicans appeared to condemn it universally.
Representative Ayana S. Pressley and Corey Bush, two members of the progressive group in Congress known as the Squad, praised the plan. Ms Bush called Mr Biden’s measure “an important first step”, but on Twitter advocated for the cancellation of all student loans. Ms Pressley was more influential, saying in a statement that Mr Biden’s action will “change lives for the better” and “help millions of people meet their needs, build a generation’s wealth, grow their families, buy homes”. and will help a lot more.” Both women are seeking re-election in secure democratic districts.
Conversely, Senator Catherine Cortez Masto of Nevada, a Democrat who is in a tight race for re-election, told the Nevada Independent that she did not support Mr. Biden’s decision “because it does not address those core problems.” which make the college ineffective.” Ms Cortez Masto said loan forgiveness should be targeted more at low-income Americans – a sentiment echoed by Senator Michael Bennett, a Democrat from Colorado in a statement – and Congress should expand the Pell grant.
Representative Tim Ryan, a moderate Democrat who is running a tough race for Senate in Ohio, also criticized the plan, saying in a statement: “As someone who can afford my own family’s student loans Paying off, I know the cost of higher education is also high. And there is no doubt that college education should be about opening up opportunities, from forgiving loans to those already on a trajectory to financial security. Millions of Ohioans without a degree get the wrong message, like working hard to make ends meet.”
Like some other Democrats, Mr Ryan cast the plan as unfair government aid for high-income Americans, noting that the $125,000 income cap meant it would waive loans for some “six-figure earners”. will do it.
Despite Ryan’s statement that he did not support executive action, his Republican rival, JD Vance, tried to blame him, writing on Twitter: “Thanks to Tim Ryan and Joe Biden, Ohio activists at Harvard’s Paying off debt. Law students.”
Senator Marco Rubio, a Republican running for re-election in Florida against Representative Val B. Demings, similarly criticized the plan and promoted it as an alternative, legislation, which he called to eliminate interest on federal student loans. was presented.
“Forgiving student loan loans is not free,” he said in a statement. “That means 85 percent of Americans who don’t have college graduate loans will bear the burden for those who do. It’s no relief, it’s unfair to place a burden on working families.”