President Biden’s student loan debt forgiveness plan is set to start this month and while it will ultimately cost taxpayers upwards of 379 billion dollars, college students seem to be excited about the potential to have their debts relieved.
Students on the campus of UT Austin shared their thoughts on the initial decision to cancel the debt, “I don’t see how it’s bad. Actually, I think it’s a good thing,” one student shared.
“That’s a great thing, I’m in debt so that would help a lot actually,” another shared.
President Biden’s plan will eliminate up to $10,000 in student loan debt for Americans making less than $125,000 per year or $20,000 for Pell Grant recipients.
When asked if we should be forgiving more than the $10,000 initially proposed by the Biden administration, one student shared, “I think you should forgive all of it. I’m a communist.”
Multiple other students shared the same sentiment of wanting loan debts fully abolished or cut by at least half.
“I think we should be forgiving like all of it, I don’t know the logistics of that, but whatever,” another student stated.
When asked who would be fronting the bill, which will amount to around 30 billion dollars per year, over the next decade, students admitted they knew it was the American taxpayer.
“Just because it’s not good for you doesn’t mean it’s not good.” a self-proclaimed “communist” student shared.
Ultimately asked if it was fair to make American taxpayers who paid off their student loan debts or never went to college, pay the debts of those who did, only one pair of students felt it was wrong.
“I don’t think that would be fair,” one student pondered, “if they didn’t have the opportunity to have an education, or they didn’t end up going to college, so they shouldn’t be paying for that decision that they didn’t make.”
The plan has since faced some delay as opponents challenge the legality of what they deem as “an illegal abuse of power.“
