INDIANAPOLIS – On Wednesday afternoon, Rep. Clyde Kersey, Councilman Curtis DeBaun, and students at Indiana State University delivered a scathing rebuke of Congressman Todd Young’s plan that would hurt Hoosier students and make college less affordable.
Congressman Young has voted in Congress to slash more than $100 million in Pell Grant funding in Indiana alone, a cut that would impact over 200,000 students in the state. And what’s worse, 32,000 Hoosier students would lose access to Pell grants while others could see their awards cut by an average of $1,600.
“Congressman Young’s education plan—one he took credit for helping to draft—ignores the needs of students by stripping Pell Grant funding completely from 32,000 low-income Hoosier students and slashing the award for the remaining students,” said Rep. Clyde Kersey. “Todd Young and his education plan would only help the special interests in Washington, all at the expense of Hoosier students.”
Congressman Young has also voted to allow student loan interest rates to double from 3.4% to 6.8%. Given that Hoosier students graduate with an average student loan debt of $29,229, this type of increase would cost approximately a semester’s worth of tuition at Indiana State University, Indiana University, Purdue, and Ball State. Additionally, Congressman Todd Young even voted to tie student loan rates to the financial markets – allowing rates to rise unpredictably.
“Congressman Young would put the dream of a college education out of reach for far too many Hoosier students,” said Michael Shepard, student at Indiana State University and president of the ISU College Democrats. “Young’s plan would make it even more difficult for students to pay off their loans—doubling student loan rates, which would amount to an entire semester’s worth of tuition at ISU. With those kinds of harmful policies that don’t look out for Hoosier students, we don’t want Todd Young in the U.S. Senate.”
Finally, Young has opposed efforts to allow students to refinance their student loan interest rates, which would help bring down the costs of their loans.
“Congressman Todd Young would force students to spend more time paying off their loans rather than starting their lives purchasing cars and houses, starting their own businesses, and contributing to the Hoosier economy,” said Councilman Curtis DeBaun. “Frankly, that’s unacceptable, and that’s not the kind of person we want representing us as U.S. Senator.”