Missouri’s senior senator says bipartisanship from Congress helped reinstate year-round Pell grants.
U.S. Sen. Roy Blunt (R) describes year-round Pell as a critical tool to help students stay enrolled in school, finish their degree faster and graduate with less debt.
“I believe that one of the best ways to reduce the student debt burden is to help students identify post-secondary pathways to career sooner and assist students as they complete their post-secondary education,” Senator Blunt says.
Blunt is the ranking Republican on the U.S. Senate Appropriations Subcommittee on Labor, Health and Human Services, Education and Related Agencies (LHHS). During a hearing on Capitol Hill this week, Blunt also blasted the idea of student loan forgiveness, saying it’s illegal. He tells colleagues that loan forgiveness would disproportionately benefit those who can pay back their debt.
“This is evidenced by the fact that the top 40 percent of households by income hold almost 60 percent of the student loan debt, while the bottom 40 percent hold less than 20 percent of the outstanding debt,” says Blunt.
Senator Blunt says if the proposal is limited to $10,000 per borrower and those making less than $150,000 per year, it would cost at least $230-billion.
Supporters of cancelling student debt include many Democrats, who say it would help borrowers who are struggling to make ends meet.