Senator Stabenow, Congressman Huizenga Release Statements on Student Loan Forgiveness

After Wednesday’s announcement from the White House on federal student loan forgiveness, you may be wondering when you can apply for relief.

The Education Department says that application will be available before the end of the year. One thing you can do now is head to the department’s website and provide your income data.

To be eligible for the $10,000 federal loan forgiveness, and additional $10,000 if you used a pell grant for undergrad study, you need to make less than $125,000.

If you submit your income to the department, it should make the application process easier when they are ready.

While Senator Debbie Stabenow was in Traverse City, 9&10 News asked her about the loan forgiveness plan. She says it gives working people a fair shot.

“We have a group of folks that either pay nothing or pay very little in order to have the blessings of our country now we’re saying come on you have to be a part of this you have to pay your fair share and what we’re able to do then is focus our priorities on working people on folks who just want a fair shot to work hard and make it,” said Senator Stabenow.

As the plan moves forward, reaction is mixed, mostly along party lines.

Republican Congressman Bill Huizenga stated the following regarding student loan forgiveness:

“First of all, it is highly questionable that President Biden even has the Constitutional Authority to make this decision. Frankly, this is an insult to the students who worked their way through school as well as the parents or spouses who took a second job to make sure the bills were paid. This reckless act is estimated to cost taxpayers $300 billion and will make inflation even worse for families already struggling to make ends meet. Lastly, this action does not solve the cost of college problem plaguing hardworking families in Michigan and across the nation. In fact, this so-called ‘forgiveness’ by President Biden has the potential to send the cost of college even higher, thereby putting a college education out of reach for future generations.”