Millionaire Florida Governor Ron DeSantis still repaying student loan. Here's why

Florida Governor Ron DeSantis has experienced a significant financial boost, becoming a millionaire due to the success of his book aimed at bolstering his presidential aspirations. However, despite his newfound wealth, DeSantis still finds himself burdened with student loan debt.

According to a financial disclosure form filed with the state of Florida, DeSantis's net worth soared to $1.17 million in 2022, a substantial increase from the $319,000 he reported in June of the previous year.

Last year, DeSantis derived income from two sources: his governor's salary of $141,400 and a hefty $1.25 million payment from HarperCollins Publishers. The latter was part of a reported $2 million advance for his memoir titled "The Courage to Be Free," released in February.

DeSantis's book quickly became a New York Times bestseller, selling nearly 170,000 print copies by mid-June, which is a remarkable achievement for a political candidate's autobiography.

The governor, who sold his family home upon assuming office, reported no real estate assets or investments. Instead, he opted to keep his funds in checking and savings accounts with USAA, a bank catering to military members and veterans, as well as a couple of retirement funds.

However, despite his financial success, DeSantis still carries a student loan debt of over $18,000 from his time at Yale University and Harvard Law School. Last year, he managed to pay off approximately $2,600 of the outstanding balance. It is worth noting that DeSantis has been critical of President Biden's promises to cancel the student debts of millions of Americans while emphasizing the importance of personal responsibility.

Also read | Donald Trump gets 29-point lead over Ron DeSantis among Republican primary voters in latest NBC poll

The Supreme Court recently dealt a blow to Biden's plan to eliminate hundreds of billions of dollars in federally held student loan debt, ruling it as an overreach of presidential authority.

As the political landscape continues to grapple with this issue, it remains to be seen how DeSantis's personal experience will shape his stance on student loan reform in the future.

Also read | ‘Not done fighting yet’, President Biden to announce new plan to protect student loan borrowers amid SC's ruling- report

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