BY AMY MCCARRON
President Joe Biden’s student debt relief plan has been put on pause until the litigation over the program is resolved, giving students false hope of whether the plan will follow through.
Biden’s debt forgiveness plan is a campaign promise that would cancel $10,000 in federal student loan debt for those making less than $125,000 or households with less than $250,000 in income per year.
One Stonehill senior supports the Biden administration’s student loan forgiveness plan.
“I’m really hoping this plan works out because I think it’s a good program to alleviate financial debt for students as that is one of the main stressors for people our age,” Emma Gabel said.
A survey was conducted by Redfield and Wilton Strategies on 1,500 eligible voters in the United States this past week. It was found that 71% of college students ages 18-24 and 82% of people ages 25-34 support the Biden Administration’s plan. The supporting percentage decreases among older adults.
Some students are unable to make informed opinions based on their lack of knowledge on the subject.
“I don’t necessarily understand the implications for our country, but as a college student I see it being very beneficial,” senior Charlotte McGuire said.
Gabel said this plan will benefit those going to graduate school.
“As a senior entering grad school, the loan forgiveness will help with my transition from undergrad to graduate school,” Gabel said.
Because the plan has been put on pause until further notice, students are eager to find out what is going to happen with their loans.
“I just want to know when this is going to be resolved. Debt relief would be a huge benefit for me as well as every other college student and working families,” Tommy Gilvarry said.
If the debt relief program is not implicated by June 30, 2023, there will be a 60 day period when payments will not need to be made. Borrowers will be informed before payments restart if this is the case.
Another student thinks everyone should be in support of Biden’s student debt relief plan.
“I don’t see why anyone would be against it. The pandemic altered many people’s financial lives and this plan will help alleviate some of the burden for a large portion of American’s,” senior Olivia Vella said.
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