Last week, Marco Rubio spoke out in opposition to President Obama’s Student Loan Relief Initiative. Specifically, Rubio railed against the idea of forgiveness for student loans after 20 years.
It was a notably unsympathetic stance from a Senator who has personal experience with the burden of having massive student loans to pay back. When Rubio was elected in 2010, his financial disclosure showed that he was still encumbered by over $100,000 of debt on his own student loans. Luckily for Rubio, he netted a hefty sum from his book deal in 2012 and was finally able to pay off his debt.
As for the rest of us, a lucrative book deal doesn’t seem like it’s in the cards. And to us normal folk, Marco Rubio has a nice message: You’re on your own, pal!
Background
Rubio Opposed Forgiving Student Loan Payments For Regular Americans After 20 Years…
Rubio Opposed Forgiving Student Loan Payments For Regular Americans After 20 Years Of Payments. During an appearance on the Bill Bennett Show, Rubio said “So the concept that we would somehow want to measure the repayment options that people have before them to how much they make is not necessarily a bad one. And, in fact, I’m working on a solution to do that in a responsible way. The problem with what the president’s done—beyond the fact that it’s through executive action—is the forgiveness aspects of it. You know, after [ten or twenty years in the public sector] the whole loan is forgiven. And in my mind, this creates the potential for more of this to occur in the future.” [Bill Bennett Show, 6/10/14]
- Rubio Said The Problem With President Obama’s Student Loan Relief Initiative Was The “Forgiveness” Aspect Of His Proposal. During an appearance on the Bill Bennett Show, Rubio said “The problem with what the president’s done […] is the forgiveness aspects of it.” [Bill Bennett Show, 6/10/14]
- Rubio Said That He Was Concerned About Forgiving Student Loans Because It Would Set A Bad Precedent For Student Borrowing In The Future. During an appearance on the Bill Bennett Show, Rubio said “in my mind, this creates the potential for more of this to occur in the future.” [Bill Bennett Show, 6/10/14]
Published: Jun 16, 2014