'I wrote a book': Marco Rubio touts 'bipartisan ideas' for how borrowers can pay off their student loan debt
President Joe Biden announced his Student Loan Debt Relief Plan on Thursday, August 25th, 2022, and United States Senator Marco Rubio (R-Florida) quickly continued his condemnations of Biden's directive.
"There's no reform, uh, let's start with this. I've talked about the fact we need to reform student loans," Rubio recalled in a segment on One Nation With Brian Kilmeade.
On August 4th of last year, Rubio introduced the Leveraging Opportunities for Americans Now Act of 2021 to provide modest relief for student debt and update school loan terms and conditions. Rubio first filed the LOAN Act in 2019 under the Senate's then-Republican majority. It has not advanced further.
If the LOAN Act were signed into law, Rubio stated at the time, it "would reform our federal student loan system so that borrowers don’t get stuck with debt they can never repay. Instead of accruing interest, borrowers will pay a one-time fee paid out over the life of the loan and will be automatically placed in an income-based repayment plan. It’s time to update our federal student loan system, because fear of debt should never stand in the way of an education and the pursuit of a better life.”
Rubio complained on Wednesday that "there are better ways to help borrowers with surging interest rates and staggering debt. My LOAN Act would increase transparency and eliminate interest rates in the federal student loan industry," insisting that "Congress should pass it immediately."
On Saturday, Rubio – whose annual taxpayer-funded Senate salary is $174,400 – "said the quiet part out loud" with an underhanded pep talk for Kilmeade's indebted viewers.
"I owed over a hundred thousand dollars in student loans. The day I got elected to the Senate I had over $100,000 still in student loans that I was able to pay off because I wrote a book and from that money, I was able to pay it. If not I would have never, I would still be paying it okay?" revealed Rubio. "So it's not about, I think the student loan thing in America is a big problem and it's broken and it needs to be fixed and it needs to be reformed and I have bipartisan ideas."
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