Sen. Marco Rubio discloses his student debts amid Senate debate

Published: Thursday, May 10 2012 10:06 a.m. MDT

In this Aug. 23, 2011 file photo, Sen. Marco Rubio, R-Fla. speaks in Simi Valley, Calif. Rubio's push for a Republican version of immigration legislation could be the answer to GOP election-year prayers. Rubio has between $100,001 to $250,000 in outstanding debt from a 1996 Sallie Mae loan.

Jae C. Hong, Associated Press

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The vote on whether to raise interest rates on student loans hits close to home for one U.S. senator.

Sen. Marco Rubio, R-Fla., issued a statement after the Senate vote on the proposed bill on student loans in which he revealed that he is still paying off student loans, according to the Washington Post.

“I think I am one of the only senators here who still has a student loan,” Rubio, 40, said in the statement to the Washington Post. “As someone with a student loan and with a state with so many people with student loans, I support 100 percent making sure that the interest rates on student loans do not go up.”

The bill would keep low rates on federal Stafford student loans for another year. The rate is currently 3.4 percent and will jump to 6.8 percent on July 1 if Congress doesn’t act.

A 2010 Senate financial disclosure form reveals Rubio having between $100,001 to $250,000 in outstanding debt from a 1996 loan from Sallie Mae, according to the Washington Post.

He currently pays 4 percent on his loan.

Other politicians have disclosed their student loan problems as the debate heats up.

President Barack Obama shared stories of his student loan woes with a group of students at the University of North Carolina at Chapel Hill on April 24, according to the Chicago Tribune.

"I didn't just get some talking points about this. I didn't just get a policy briefing on this. Michelle and I, we've been in your shoes," Obama told the students as reported by the Chicago Tribune.

The Democrat said he and his wife had only finished paying off their student debts eight years ago.

EMAIL: jferguson@desnews.com TWITTER: @joeyferguson

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