Iowa politicians react to Biden’s student loan decision

President Biden’s move to provide student loan debt relief for Americans  with an annual income below $125,000 is getting some strong reactions  from Iowa politicians.

Republican Governor Kim Reynolds said Biden isn’t cancelling student  debt, he’s shifting the costs to the taxpayer and to those who worked to  pay off their loans.

Deidre DeJear, the Democrat who’s running against Reynolds, said the  president took a historic step that will begin to address income  inequality and open pathways for financial wellness.

Republican Senator Chuck Grassley said he doesn’t think the president  has the authority to make this move and Grassley said during a stop in  Sibley yesterday that cancelling student debt discourages people from  keeping their word that they’ll repay loans.

Mike Franken, the Democrat who’s running against Grassley, said the  president’s plan is a welcome step, including the new sliding scale for  repaying student loans that’s based on income,

but Franken said there’s still a need for meaningful legislation to help lower the cost of attending college and trade schools.

About half a million Iowans have outstanding student loans. They owe, in  total, over $13 billion as a group on those loans. The average unpaid  balance is nearly $30,000.

Senator Joni Ernst, a Republican, said the president’s plan is unfair to  those who didn’t go to college or who have already paid off their  student loans.

Both major party candidates in Iowa’s second congressional district are  critical of the president’s move to forgive some student loan debate.

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