Senator Amy Klobuchar reacted Wednesday to President Biden's announcement that up to $10,000 in student loans will be forgiven for those making $125,000 or less, or $250,000 for a family.
“I'm still reviewing it, but it's a more targeted approach than some of the proposals out there which were regardless of income level, pay off of the loans, which I think would've been problematic,” Senator Klobuchar told WCCO.
Klobuchar said it will help a lot of people in Minnesota, which has one of the highest rates of outstanding student loans in the country.
Biden's plan also forgives an additional $10,000 for low-income borrowers, and current federal student loan payments will remain paused through the end of 2022.
Voicing her support for President Biden's plan, Klobuchar said she's pleased it includes important restrictions.
“This is much more targeted and Minnesota has one of the highest rates of student loans that need to be paid back,” says the senator. “In fact, we are fifth highest, in that 64% of our college students graduate with debt. So it should help a lot of people.”
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