Ohio Democratic Senate candidate Tim Ryan is facing questions about his criticism of President Joe Biden’s student debt cancellation plan — despite previously appearing to be open to supporting such a move.
On Sunday, CNN’s Dana Bash noted that in 2018, Ryan tweeted, “Student debt is out of control. If we can bail out the banks who did everything wrong, we can help out the students who did everything right.”
“Isn’t that what President Biden’s policy is trying to do?” she asked.
Ryan responded, “Again, I mean, 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.”
“I think we can get a significant way down the road by allowing them to re-negotiate down the interest rates and put some money into their pocket. And again, there’s a lot of people out here who are doing everything right,” he continued.
Finally, the Senate hopeful added, “So if it’s part of a broader package, we can certainly talk about it. That’s why I think a tax cut for all working people or medical debt — which isn’t directly linked to somebody who goes to college — I mean, I think we’ve got to have a broader package here. And I would certainly support something like that. But I think the general tax cut’s the best way to go.”
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Biden announced his move to cancel up to $20,000 in student loan debt for certain borrowers, as IJR reported.
Individuals who make less than $125,000 a year will be eligible to see up to $20,000 of debt canceled if they received Pell Grants.
Those who did not receive Pell Grants and are under the income cap are eligible to see up to $10,000 in student loan debt canceled.
A “fact-sheet” released by the White House reported that 90% of the benefit of the loan cancellations will “go to borrowers earning less than $75,000 a year.”
It also claims the move will “advance racial equity.”
After the plan was announced, Ryan criticized it and said it “sends the wrong message.”
“While there’s no doubt that a college education should be about opening opportunities, waiving debt for those already on a trajectory to financial security sends the wrong message to the millions of Ohioans without a degree working just as hard to make ends meet,” he argued. “Instead of forgiving student loans for six-figure earners, we should be working to level the playing field for all Americans.”
Conservatives also blasted the plan as immoral and an affront to the Constitution.