Abbott, Stitt oppose student loan forgiveness
DURANT, Okla. (KTEN) — Oklahoma Gov. Kevin Stitt, his Texas counterpart Greg Abbott, and 20 other Republican governors have sent a joint letter to President Biden, urging him to withdraw his student loan relief plan.
The administration's three-part plan, announced last month, includes:
- canceling up to $10,000 in debt for people who earn less than $125,000
- a pause in student loan repayments until January 2023
- creation of a new income-driven repayment plan
However, the 22 governors maintain that the debt forgiveness program would hurt working class Americans.
"This is debt transferred to somebody else that's going to have to pay for that loan who has already either paid their loan, or did not get a loan themselves," said Oklahoma state Sen. David Bullard (R-District 6). "In a time of inflation, right now the average family is paying about $6,000 more this year."
Bullard said he agrees with the governors that the loan relief program will add to inflation.