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Tim Ryan: Student loan forgiveness ‘sends the wrong message,’ does ‘nothing to control’ costs

Rep. Tim Ryan said Sunday that President Biden’s student loan forgiveness is offering the “wrong message” amid crushing inflation.

The Ohio Democrat, who is in the midst of a competitive race for Ohio’s open Senate seat against Republican J.D. Vance, has emerged as a leading critic of the president’s executive order wiping out as much as $20,000 for each American with outstanding federal student loans.  

“There are a lot of people hurting in our society right now. People are getting crushed with inflation, crushed with gas prices, food prices and all the rest,” Mr. Ryan said on CNN’s “State of the Union.” “I think a targeted approach right now really does send the wrong message.”

He suggested a fairer and more effective approach would be to cut taxes and renegotiate high-interest rates. He also highlighted that the debt forgiveness does not address the expensive nature of higher education, a point that other critics have noted.

“We have done nothing to control the costs of college. We’re going to be in the same position here in five years,” Mr. Ryan said. “Part of a comprehensive package, we could look at [forgiveness], but just this direct, targeted thing I don’t think is sending the right message.”

While Democrats in tough elections have condemned the move, far-left members of the party have offered criticism for Mr. Biden not going far enough. Some Democrats wanted him to wipe out as much as $50,000 per person.

SEE ALSO: Gov. Sununu: Biden should apologize for ‘horribly inappropriate’ rhetoric that GOP is ‘semi-fascism’

Republicans have also slammed the president, saying that it was a costly political stunt just months before the November midterm elections that will end up forcing taxpayers — regardless of whether they went to college — to foot the bill.

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