On Tuesday’s broadcast of the Fox Business Network’s “Fox Business Tonight,” Sen. Marsha Blackburn (R-TN) stated that as people have less money due to inflation, “you have these PhDs and these doctors that are getting their loans paid off.”
Blackburn said, [relevant remarks begin around 1:35] “[I]t is so important to realize that the majority of student loans are held by people with advanced degrees, PhDs, lawyers, doctors. And these are individuals that are going to be high-income earners. Now, you have a small amount of student loans that are held by your lower-income earners. And here’s a great example, a lady that I know, single mom, daughter, they both worked two jobs for five years to get her through college with no student debt. She came up to me and said, Marsha, do I get a tax credit? Does my daughter get a tax credit? If they’re going to start giving money away, what about people like me that played by the rules, that made certain that we worked overtime and extra in order to pay for education so that her daughter could become an elementary school teacher? Now, this is how it is affecting people, and we get more calls in our office about the student loan forgiveness program than anything. … Now, Dagen, they’re looking at having less money to go around because more money goes into the essentials, and then you have these PhDs and these doctors that are getting their loans paid off.”
Follow Ian Hanchett on Twitter @IanHanchett