AOC says she won't be included in Biden's student debt handout, 'but that's OK'

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AOC asked if she will benefit from Biden's student loan forgiveness plan during Colbert appearance

Rep. Ocasio-Cortez was asked on Monday if she would benefit from President Biden's student loan forgiveness plan during an interview with Stephen Colbert. 

Rep. Alexandria Ocasio-Cortez, D-N.Y., was asked on Monday if she would be included in President Biden's latest student loan forgiveness plan during an appearance on "The Late Show with Stephen Colbert." 

Colbert asked Ocasio-Cortez to tell him about the plan for student loans, which she worked on. 

"There are over 40 million student loan borrowers in the United States today, President Biden just unveiled a plan to offer relief in some way, shape, or form, either complete or partial, to 30 million of them. Thirty million student loan borrowers are going to start seeing relief," she explained.

The late night host asked if she was one of the people who would benefit from the program. 

Rep. Alexandria Ocasio-Cortez is asked if she will benefit from Biden's plan to forgive student debt.  (Screenshot/Colbert)

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"I don’t think I will be. Actually, I’m going to be one of the few that doesn’t. I’m a member of Congress. I’m a little bit outside the threshold and bounds. But if I wasn’t, you know, just a few years ago, waitress me five years ago would have benefited from it. Congresswoman me will not, but that’s okay. I’ll take the knock if it means people can get relief," she added. 

The Supreme Court has struck down multiple versions of Biden's plans for a student loan bailout, and 11 Republican-led states filed a lawsuit against the version he announced in February. The new Biden plan is expected to affect up to 30 million Americans, who will see sizable portions of their student debt slashed before the November election, according to the Wall Street Journal.

The plan's central pillar focuses on cutting loans that have exceeded their principal amount due to interest. It would cut up to $20,000 in accrued interest, while borrowers who make less than $120,000 or couples who make less than $240,000 would be allowed to cut all of their accrued interest beyond the principal amount, the WSJ reported.

The result would see roughly 23 million Americans having their loans cut down to the principal amount, Fox News Digital previously reported.

Biden's plan would cancel debt for borrowers who have held onto their loans for decades without fully paying them off. The forgiveness would apply to any undergraduate debt lasting more than 20 years and any graduate debt lasting more than 25 years, according to WSJ.

President Joe Biden speaks at Abbotts Creek Community Center during an event to promote his economic agenda in Raleigh, North Carolina, on January 18, 2024.  (SAUL LOEB/AFP via Getty Images)

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Colbert also asked Ocasio-Cortez about calling the famine in Gaza "an unfolding genocide," which he said was an "electric term." "What did you hope to make possible by going that far in your description?" he asked the progressive lawmaker. 

The congresswoman argued, "we have been on the precipice of a mass famine that would indiscriminately kill nearly a million children, adults, innocent people, men, women and children."

"I think in using this term, it is not to engage in a game of rhetoric, but it is for us to see what is happening for what it is," she said.

WASHINGTON, DC - MARCH 21: Rep. Alexandria Ocasio-Cortez (D-NY) speaks during a press conference outside the U.S. Capitol with Sen. Bernie Sanders March 21, 2024 in Washington, DC. Ocasio-Cortez and Sanders reintroduced the "Green New Deal for Public Housing Act" during the press conference.   (Win McNamee/Getty Images)

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Fox News' Anders Hagstrom contributed to this report.