Senator Thune opposes Biden Administration’s student loan relief program

RAPID CITY, S.D. (KEVN) - At the end of last month, the Biden Administration announced a new student loan relief program called SAVE. On Tuesday, September 12, Senator Thune spoke on the Senate floor to voice opposition to the program.

The plan itself would allow student loan borrowers to reduce their payment amount per month if they qualify. The Biden administration says this plan will “Save the typical borrower around $1,000 a year.” Senator Thune took a principled stance against this program saying it will leave non-borrowers left with the bill.

“I just think the idea that 87% of people in this country don’t have student loans, haven’t had student loans, paid back their student loans, or didn’t have a chance to go to college, are going to be subsidizing the 13% of people in this country that have student loans,” said Senator Thune.

Senator Thune said that he would prefer a plan that allows businesses to pay loans back for a tax credit rather than debt forgiveness. For more information on the Biden Administration’s SAVE plan click here.

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