Trump VP Pick Vance Rips Student Loan Forgiveness

Sen. J.D. Vance, R-Ohio, chosen Monday as Donald Trump's running mate for the 2024 presidential election, opposes student loan forgiveness.

Vance, a Yale Law School graduate and author of "Hillbilly Elegy," has been vocal about his opposition, which aligns with Trump's policies on education debt, CNBC reported.

"Forgiving student debt is a massive windfall to the rich, to the college-educated, and most of all to the corrupt university administrators of America," Vance stated on X in April 2022. "Republicans must fight this with every ounce of our energy and power."

The U.S. faces an outstanding education debt of approximately $1.6 trillion, impacting nearly 43 million people. Research indicates that women and people of color are disproportionately affected by this debt. Despite these figures, Vance and Trump oppose broad student loan forgiveness initiatives.

Vance has shown support for loan forgiveness, but only in extreme cases. In May, he introduced legislation to forgive student loans for parents whose children have become permanently disabled. However, his general opposition to debt relief poses a significant challenge to the Biden administration's efforts to alleviate student debt. Already, Republican-led lawsuits have halted significant provisions of the Department of Education's new repayment plan.

The Supreme Court, influenced by a conservative majority, recently struck down President Biden's plan to cancel up to $20,000 in student debt for millions of Americans. This legal setback reflects broader Republican efforts to limit student loan forgiveness, as highlighted by the Heritage Foundation's Project 2025. This initiative, developed with input from former Trump officials, advocates for cutting various student loan forgiveness programs.

"If Donald Trump is given the chance to implement this right-wing manifesto, it will wreak havoc on the economic stability of millions of student loan borrowers and their families," said Aissa Canchola Bañez, political director for Protect Borrowers Action.

Vance reiterated his stance against student loan forgiveness during an August 2022 interview on Fox News.

"If you want to give student debt relief, you should penalize the people who have benefited from this very corrupt system, not ask plumbers in Ohio to subsidize the life decisions of college-educated young people," Vance said on "Tucker Carlson Tonight."

Conservative arguments against student loan forgiveness typically focus on fairness, questioning why taxpayers should cover the costs for individuals who have benefited from higher education. According to higher education expert Mark Kantrowitz, only about one-third of Americans 25 and older hold a bachelor's degree.

Consumer advocates argue that the rising cost of education forces many families to take on debt, which is necessary to achieve middle-class status. They also criticize the loan system for exacerbating the debt crisis.

Jane Fox, chapter chair of the Legal Aid Society Attorneys union, UAW local 2325, called Vance's characterization of debt relief as a benefit to the wealthy "hypocritical and incorrect." She emphasized that student debt forgiveness is a working-class issue, noting that those in elite positions, like Vance's previous career in private equity, rarely need such relief.

In Ohio, Vance's home state, Kantrowitz determined that student loan borrowers owe $62 billion, with an average debt of approximately $35,000.