Lawmakers (some of them) have student loans too
(MoneyWatch) Among the millions of Americans who are still paying off college loan debt are 46 members of Congress, who owe somewhere between $1.8 million and $4.3 million.
Five U.S. senators and 41 members of the House of Representatives are paying off student loans, according to an investigation by the Center for Responsive Politics, which is a nonpartisan research group that tracks money in U.S. politics and its effect on elections and public policy. The amounts are given in ranges because lawmakers only must divulge such broad indications of their finances.
- College students who borrow too much: 13 facts
- 7 ways to tackle the nation's student loan debt crisis
The lawmaker who owes the most money -- somewhere between $155,001 and $300,000 is freshman Rep. Raul Ruiz (D-CA), a physician who has earned three degrees after getting his bachelor's degree from UCLA. Ruiz, who beat Republican Mary Bono, the widow of Sonny Bono, in the November general election, has a medical degree and two other graduate degrees from Harvard University.
Much of the borrowing appears to be for the politicians' own college education though some of the debt is for spouses or children.
Top 10 student loan debtors in Congress
In Congress, all of the biggest borrowers are representatives:
- Rep. Raul Ruiz (D) $115,002 - $300,000
- Rep. James Bridenstine (R) $100,001 - $250,000
- Rep. John Carter (R) $100,001 - $250,000
- Rep. Grace Meng (D) $100,001 - $250,000
- Rep. Tom Rooney (R) $100,001 - $250,000
- Rep. Kevin Yoder (R) $80,003 - $200,000
- Rep. Louis B. Gohmert Jr. (R) $70,001 - $130,000
- Rep. Pedro Pierluisi (D) $65,002 - $150,000
- Rep. Tom McClintock (R) $60,001 - $115,000
- Rep. Gerry Connolly (D) $55,003 - $165,000
5 U.S. senators who owe student debt
- Mike Lee (R) $10,000 - $15,000
- Angus King (I) $15,001 - $50,000
- Elizabeth Warren (D) $15,001 - $50,000
- Christopher Murphy (D) $15,001 - $50,000 (And same debt range for his wife)
- Tammy Duckworth (D) $50,001 - $100,000
Congress and student debt
It's a good development for the country that some members of Congress, who as a whole are wealthier than most Americans, are repaying student debt. Two new senators -- Elizabeth Warren and Christopher Murphy -- will serve on the Senate Education Committee, which last year had no student debtors on the panel.
With more firsthand experience repaying student debt, Congress may be more likely to look favorably at remedies that address the growing student debt level that now exceeds credit cards.
Popular on MoneyWatch
- Seeking solutions to the student aid mess
- Reverse cell phone lookup service is free and simple
- How to stop the mediocrity pandemic
- LinkedIn: 3 tips for building a better profile
- Amy's Baking Company: Post-meltdown PR campaign
- Kellogg re-inventing Special K brand
- Top 10 professional life coaching myths
- Yahoo buys blogging site Tumblr for $1.1 billion
I believe so, but the difference is that they HAVE A JOB, and more than that, a WELL PAID JOB. How many college graduates out there, with huge amounts of college student loan debts waiting to be repaid do not have a job as they can't find one, or are working in retail so that they can at least handle their car/car insurance payments? Please gimme a break with this sort of ridiculous statements such as the one noted above.
Thanks for the attention and understanding!