When Biden announced his student loan decision Wednesday, Ryan was the only Democratic member of Congress from Ohio who didn’t give it two thumbs up.
WASHINGTON, D. C. - U.S. Rep. Tim Ryan’s critique of President Joe Biden’s plan to forgive up to $20,000 in outstanding federal student loan debt for qualifying borrowers is a switch from his past enthusiasm for forgiving student loans.
“Instead of forgiving student loans for six-figure earners, we should be working to level the playing field for all Americans — including an across-the-board tax cut for working- and middle-class families, medical debt cancellation, targeted forgiveness for essential workers and more opportunities for student borrowers to refinance their loans, and investing in apprenticeships, universal community college, and workforce development and training programs so all Americans — not just college grads...
When asked whether it would be appropriate to reduce federal student loan debt by more than $10,000, Ryan said average student loan debt is around $20,000 to $25,000, so forgiving $10,000 in debts “would cut it in half” for the average person, which would be “significant.” Asked why Ryan changed his stance on forgiving student loans, Ryan’s press spokesperson Caty Payette said he’s “always supported making college more affordable and accessible because he knows that the cost of higher education is too high.
Ryan’s Republican rival in the Senate contest, venture capitalist and author J.D. Vance, released a statement that described Biden’s student loan plan as “a $300 billion giveaway to college graduates – paid for by single moms in the form of higher food prices, by trade workers in the form of higher taxes, and by the next generation of students in the form of higher tuition.
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