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ICYMI: Rubio Joins The Aaron Renn Show

U.S. Senator Marco Rubio (R-FL) joined The Aaron Renn Show to discuss Rubio’s Labor Day report on working (and non-working) men. See below for highlights and listen to the full interview here. On protecting American jobs and interests: “We made a series of economic...

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ICYMI: Rubio Debates Coons on China, Environment

U.S. Senator Marco Rubio (R-FL) debated Senator Chris Coons (D-DE) on China, global leadership, and environmental policy at an event hosted by the Bipartisan Policy Center’s Senate Project at George Washington University. “We have to shape a future that recognizes...

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Next Week: Rubio Staff Hosts Mobile Office Hours

U.S. Senator Marco Rubio’s (R-FL) office will host in-person and virtual Mobile Office Hours next week to assist constituents with federal casework issues in their respective local communities. These office hours offer constituents who do not live close to one of...

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Rubio Habla en Maxima 92.5 de Tampa Bay

El senador estadounidense Marco Rubio (R-FL) habló con Nio Encendio de Maxima 92.5 de Tampa Bay, sobre cómo la inflación ha impactado a las familias, sobre las olas de migración ilegal, sobre el juicio político de Biden vs. el de Trump, sobre el canje de prisioneros...

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ICYMI: Rubio: It’s Time for a New Approach to Student Loans

Sep 20, 2021 | Press Releases

It’s time for a new approach to student loans
By Senator Marco Rubio
September 19, 2021
Florida Times-Union
Loan cancellation would mean hundreds of billions of dollars shelled out without congressional authorization. That money would come from 200 million American taxpayers, including those who already repaid their loans and those who decided not to pursue a college degree, who would subsidize some of our nation’s wealthiest Americans. Not only is it wrong, but it would do nothing for our nation’s future student borrowers.

In short, the Democrats’ proposal is expensive, unsustainable, grossly unfair and counterproductive. It represents a giveaway to our nation’s most educated at the expense of others, but also an inadequate fix to a perpetual problem.
It is important to recognize, however, that there is a need for action. Today, millions of Americans are drowning in student loan debt and that problem is only getting worse.
My LOAN Act provides the right answer.
The legislation would reform our federal direct student loan system by eliminating interest and replacing it with a one-time, non-compounding financing fee paid out over the life of the loan. No more inflated, compounding interest rates that obscure the true cost of college loans. 
The LOAN Act would help borrowers by taking the unique financial circumstances of the borrower into consideration. With an income-based repayment (IBR) plan as the default option, new graduates would not suddenly be swamped with monthly repayments they cannot afford.

The LOAN Act has garnered support from United Negro College Fund president, Dr. Michael L. Lomax, who described it as “a strong and robust proposal,” noting that “low-income students would fare better under the repayment system [it] creates versus our current structure.”
And the Bipartisan Policy Center said the income-based repayment plan “would support federal student loan borrowers by promoting simplification, transparency, and automatic features in the student loan repayment process.”
Student debt is not going away, and simply wiping the slate clean for Americans currently grappling with it is not an enduring solution. But we can have a more transparent system that does not trap Americans looking to pursue an education with exploding interest payments and unmanageable burden. The system needs real reform, and my LOAN Act offers the right way forward.
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