RELEASE: Mike McFadden: Helping Millionaires, Not Minnesotans With Student Debt

Mike McFadden: Helping Millionaires, Not Minnesotans With Student Debt
McFadden talks to students on U of M campus days after telling Congress to ignore them

ST. PAUL [9/23/14]—Just one week after Mike McFadden told Congress to ignore the millions of Americans struggling with student loan debt, and criticized Sen. Franken for his work in the Senate to help lower the cost of college, the investment banker is showing up at the University of Minnesota campus today to ask students for their support.

Twice in the last week, McFadden actually attacked “Senate leaders for focusing on student loan refinancing,” despite the fact that Minnesotans graduate with some of the highest debt in the country. And three months ago, McFadden said he would protect millionaires and billionaires over giving half a million Minnesotans the ability to refinance their high-interest student loans.

McFadden said in July he opposes Sen. Franken’s Bank on Students Emergency Loan Refinancing Actbecause it is paid for by enacting the Buffett rule, which would ensure millionaires and billionaires pay their fair share in taxes. The bill would give Minnesotans with outstanding student loan debt the chance to refinance their public and private student loans at lower rates. 560,000 Minnesotans stand to benefit from the lower interest rates in the bill.

“The fact that investment banker Mike McFadden would protect millionaires and billionaires and dismiss the importance of giving half a million Minnesotans student loan relief just shows he is more interested in playing politics than actually solving problems,” said Alexandra Fetissoff, Franken campaign spokesperson. “In sharp contrast, Sen. Franken has worked hard on issues that matter to Minnesotans, including lowering the overall cost of college.”

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The post RELEASE: Mike McFadden: Helping Millionaires, Not Minnesotans With Student Debt appeared first on U.S. Senator Al Franken, Minnesota -- Official Campaign Website.