Sen. Evan Bayh (D-IN), one day after officially announcing his retirement plans in a surprise move, says he has some qualms with plans to reform the student loan industry--a home-state concern for Bayh.

In a letter to the chairman and ranking member of the Senate Health, Education, Labor and Pensions Committee, Sens. Tom Harkin (D-IA) and Mike Enzi (R-WY), Bayh recognized the rising costs of education as a major economic concern for American families, but said he's worried it will cost Indiana jobs.

"I do, however, have concerns about the short-term impact reform efforts could have on employment in Indiana. Making college affordable for low and middle income families is an essential part of our economic recovery, but so is both creating new jobs and protecting those we have," Bayh wrote, noting that these goals need not be in conflict.

Student loan reform was a promise President Obama made on the campaign trail as he delivered stump speeches on the economic crisis and how it affected families in the U.S.

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