Former New York State Senator Alessandra Biaggi faced backlash on social media after posting a tone-deaf tweet about her student loan debt. Biaggi expressed her frustration with her $206,000 loan debt in response to the Supreme Court’s ruling against President Biden’s plan to cancel over $400 billion in student loan debt.
Last August, President Biden unilaterally announced a massive forgiveness of student loans in an attempt to gain support from Gen Z and Millennial voters in the 2022 midterms. The program aimed to cancel up to $10,000 in debt for borrowers who earn $125,000 or less per year, and up to $20,000 for recipients of Pell Grants.
However, the Supreme Court recently invalidated Biden’s student loan bailout program, leaving borrowers like Biaggi stuck with their debts. Biaggi took to Twitter to share her own experience, stating, “In 2012, I graduated from Fordham Law School with $180,000 in student loan debt. I’ve been paying off loans for 11 years. Even paid two of them off completely. In 2023, my balance is $206,000.”
The tweet quickly drew attention to the stark contrast between Biaggi’s hefty loan debt and her seemingly luxurious lifestyle. The New York Post reported that Biaggi and her husband, Nathaniel Koloc, purchased a $1,137,500 estate in Bedford, NY in July 2022. The property boasts a 2,468 square-foot ranch on 4.3 acres with two wood-burning fireplaces and an in-ground heated pool.
Twitter users didn’t hold back in criticizing Biaggi’s posturing. Many pointed out the irony of her complaint about student loans while living in an affluent neighborhood and owning an expensive property. Jesse Kelly replied, “BREAKING: Woman spends more than she makes,” while JWF suggested, “But you can afford a house in insanely wealthy Bedford. Sell your house and pay your debt.”
Some users advised Biaggi to seek financial guidance from personal finance expert Dave Ramsey, suggesting that she needed better money management skills rather than relying on Biden’s loan forgiveness plan. Others questioned why Biaggi didn’t ask whoever had influenced her decision to attend a private law school to help pay off her loans. They also criticized her for choosing to move into a $1.3 million home instead of prioritizing her debt repayment.
The controversy surrounding Biaggi’s tweet highlights a larger debate on the issue of student loan debt and the responsibility of borrowers. While many sympathize with the burden of loan repayment, some argue that individuals should take personal accountability for the decisions they made and find ways to manage their debt responsibly. The tension between personal responsibility and government intervention remains a topic of heated discussion in the ongoing student loan debt crisis.