Student Loan Forgiveness: How will it Impact us?

Photo Credit: AP Evan Vucci

Jesus Cortez – Staff Writer

President Joe Biden signed an executive order pushing back student loan payments to Sept.30, according to Nerdwallet. Biden has also proposed loan relief that would cancel $10,000 of student loan debt for all federal borrowers.

“A $10,000 loan forgiveness would be beneficial to many students,” said Sam Jendreas, an English major with minors in education and music, “The price of college tuition is definitely a barrier for a lot of people, and it could help make it more affordable.”

While President Biden was quick to pen 42 executive orders, his transition team said Biden will go to congress to pass the $10,000 loan relief.

The promise on student loan relief is being promoted not only by the Biden administration but also by politicians like Democratic Senator Elizabeth Warren, quoted in a Forbes article saying, “we have a responsibility and a moral obligation to act…We need to broadly cancel student loan debt and put those monthly payments back into our economy.”

Biden also made other proposals when he was campaigning. According to his website, he has proposals for college students such as investing in community colleges, supporting universities known for supporting minority groups, and relieving a justifiable number of student loans.

The President has made it apparent that there is no time to waste on issues like COVID-19, climate change and immigration. As a current university student, I’m appreciative of the proposals that President Biden is putting out there. However, with all the current issues the country is facing, as well as the opposition in the Senate, we can only hope that President Biden’s promises will be implemented successfully.