Local student welcomes Biden student loan forgiveness proposal
HORRY COUNTY, SC (WMBF) – A key issue with President Joe Biden’s presidential campaign was giving some rebate to federal student loans.
Biden has offered to offer up to $ 10,000 in federal student loan forgiveness. However, the United States House and Senate Democrats want to increase the pardon amount to $ 50,000.
More than 40 million Americans are in student loan debt, for a total of approximately $ 1.6 trillion.
For students like Alexandra Collman, a freshman at Coastal Carolina University, forgiveness has the potential to help tremendously.
“Every little bit counts, even a $ 100 purse,” Collman said. “From this proposal, I think it shows that university prices have incredibly high jobs and nothing else has changed. It’s just ridiculously expensive and it’s become less and less affordable for everyone.
Dr Elaine Maimon, a former university president and current author and advisor, also weighed in on the proposal for some relief on student loans.
Originally, Biden proposed loan cancellation to those based on community services, but is now expected to ask Congress to write off student loan debt for all borrowers.
Maimon said that when it comes to the school and who would pay them for the education provided, the schools have already received the loan money. Maimon said the help was strictly a forgiveness for the student and added that the appeal was “obvious”.
“It will be a great feeling of uplifting, encouragement, for people who are facing all the worries of student debt and trying to get their lives back on track and start their profession. I just think it’s almost a no-brainer that it should be done, ”Maimon said.
It’s important to note that nothing is set in stone yet, and it may take some time for people to see anything.
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