On the recordMarch 27, 2023
Mr. President, they range from total forgiveness under public student loan forgiveness, the PSLF; Stafford loans for teachers; and Perkins loans cancellations for law enforcement officers, military, early childhood educators, and social workers, to name few. There are also repayment programs for high-demand fields, where education is specialized and the need is a public good. For example, through the Department of Health and Human Services, therapists and behavioral health providers who are needed to help our children as we face a mental health crisis are eligible for loan forgiveness. In addition, there are repayment policies related to the income of an individual. There are five different programs to keep payments low compared to an individual's income and to cap the total time for repayment. These are quite different from this mass transfer of debt under this reckless student loan scheme, which forgets that these existing programs were set up to target limited taxpayer resources to benefit those using their degrees to serve and to fill broader public needs or who can demonstrate that they, themselves, have a personal, individual need. By the way, what benefit does the GI bill hold when students can just wait to have their student loans forgiven? Why contribute to your community by teaching in a public school while getting your Federal loans paid off through your service when you can just wait for President Biden to forgive your loans?…





