Rep. Alexandria Ocasio-Cortez Made A Student Loan Payment During Meeting To Prove A Point About Corruption
One of the least talked about topics on the realm of American politics has to be the corruption of financial student loan institutions. The immigration crisis, climate change, and even healthcare are discussed more extensively, but when it comes to education and the high cost of college, the voices aren’t enough. However, it should be known that in the United States, the student loan debt is currently at $1.5 trillion. More than 44 million people are drowning in student loan debt, and one of them is a United States representative.
During a committee meeting, Rep. Alexandria Ocasio-Cortez stated that she made a student loan payment, but she wasn’t slacking off.
Rep. Ocasio-Cortez was in the middle of a House Financial Services Committee hearing and said — to make a very valid point — that she had made a roughly $200 payment on the remainder of her student loan, which is now more than $19,000.
“I literally made a student loan payment while I was sitting here at this chair, and I looked at my balance, and it was $20,237.16,” Rep. Ocasio-Cortez said during the hearing. “I just made a payment that took me down to $19,000 so I feel really accomplished right now.”
The youngest lawmaker in the House of Congress wanted to show the corruption by student loan institutions and how several of those companies have ties to United States Secretary of Education, Betsy DeVos. She added that she feels strongly against the Republicans view on this topic, saying, “I’m hearing people on this committee say it’s not our job. This is our job.”
Rep. Ocasio-Cortez isn’t the only lawmaker making student loan payments. There are 70 other members of congress that are still paying off their student loans.
The New York Post is reporting that “70 members of Congress who are still paying off student loans for themselves or a dependent — with an average debt burden of $37,000. Eight lawmakers are said to have more than $100,000 in debt.”
This is not the first time, Rep. Ocasio-Cortez has spoken out about the student loans that paid for her college education at Boston University. Back in June, on the steps of Capitol Hill, she said this fight is personal for her. “It was literally easier for me to become the youngest woman elected to Congress than it is to pay off my student loan debt.”
People who are making monthly payments to their student loans, on average, contribute about $300 a month, which is not enough if they owe at least $35,000. According to a report by CNBC, “About one in four Americans has student loan debt, with the average balance just over $37,000. The average student loan payment is $393 a month, which is almost 20 percent of the typical American’s monthly household income.”
Student loan debt is one of the contributing factors as to why people are postponing getting married, starting a family, and purchasing a home. They simply cannot afford to get into the next chapter in their life because they’re drowning in debt.
That is why Rep. Ocasio-Cortez and other politicians are fighting to forgive student loan debt and make college tuition-free.
Some may say people should have to pay their own debt, but others such as presidential candidates Sen. Bernie Sanders and Sen. Elizabeth Warren. Like Rep. Ocasio-Cortez, Sanders said that millennials shouldn’t have to suffer at the hands of corrupt student loan institutions.
“It is time to end the absurdity of sentencing an entire generation—the millennial generation—to a lifetime of debt for the ‘crime’ of doing the right thing: getting a college education,” Sanders wrote in Fortune.
Furthermore, Sanders and the rest of the Democratic presidential candidates are also running on a promise to make college tuition-free, mainly state schools. New Mexico just announced they are offering free college education for state universities. Other states that are now offering a free college education includes Oregon, Nevada, Arkansas, New Jersey, Maryland, Tennessee, New York, Rhode Island, Delaware, Kentucky, and Indiana.
“This program is an absolute game-changer for New Mexico,” Governor Lujan Grisham said in a statement, according to the New York Times. “In the long run, we’ll see improved economic growth, improved outcomes for New Mexican workers and families and parents.”