WASHINGTON — Tim Ryan, an Ohio Democrat running in one of the most closely watched U.S. Senate races, said he opposed President Joe Biden’s student loan forgiveness plan, underscoring divisions in the party and worries that the issue could be a vulnerability in the midterm elections.
“We’re not saying that there’s not a significant burden here. The cost of college is outrageous. But there’s nothing in here to control that cost,” Ryan said Sunday on CNN’s “State of the Union.” “I think we can get a significant way down the road by allowing them to renegotiate down the interest rates and put some money in their pockets.”
Biden’s plan would forgive up to $10,000 in student debt for all individuals earning up to $125,000 and up to $20,000 for borrowers who received Pell Grants, a benefit for low-income students, while in college. However, the plan didn’t address the long-term issues surrounding higher education affordability. Such a plan would likely require congressional action.
