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U.S. Rep. Jared Golden of Maine’s 2nd District emerged as one of the few Democrats to criticize President Joe Biden’s decision to forgive up to $20,000 in student debt for millions of Americans on Wednesday, calling it “out of touch.”
“This decision by the president is out of touch with what the majority of the American people want from the White House, which is leadership to address the most immediate challenges the country is facing,” Golden said.
The debt relief will forgive $10,000 in student debt for Americans making under $125,000 a year. Those who attended college on Pell Grants will get $20,000 in relief, while the plan would also halve the amount of income that borrowers must pay monthly from 10 percent to 5 percent.
The decision will potentially make inflationary pressures worse during a time in which the president should be taking actions to reduce inflation, Golden said.
“It is out of step with the needs and values of working class Americans, and I do not support the president’s decision,” Golden said.
The Institute for College Access & Success estimated that Mainers from the class of 2020 had an average debt of around $33,000, the ninth-highest rate in the nation.
New college graduates in Maine have typically had some of the highest student loan debt rates in the country, a quality shared with several other Northeastern states. Neighboring New Hampshire had the highest rate in 2020 with an average of around $40,000.
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