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Students who spoke to Fox News were divided on whether they supported loan forgiveness, but agreed that paying off student debt would not solve the problem of rising tuition costs.
“Asking young Americans to keep this kind of financial debt for 25 years is absolutely strange,” Grace Knight, a student at New York University, told Fox News. “This prevents us from starting a family and buying a home.
“When our children can go to school, we can’t help them pay for these institutions because we are still paying our own debt,” Knight added.
Grace Knight, a New York graduate, tells Fox News why she supports debt forgiveness for student loans (Megan Myers / Fox Digital)
Amanda Gonzalez Garcia, a student at the University of Bari, said similarly, “How can I really start life after graduation?”
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President Biden is campaigning to forgive up to $ 10,000 per person in federal student loans. The administration has so far canceled $ 17 billion in loans, according to the education ministry.
Simplifying student loan debt will not “help the real problem.” [is] the high cost of college, “Matteo Gomez, a student at the University of Bari, told Fox News.
Ian Linabari, a student at the University of Utah, similarly said that the forgiveness of student loan debt was not a “sustainable political solution” and would not solve the “root cause”.
“I believe that forgiving student debt will only make college more expensive when the federal government starts pumping money into higher education and funding higher education,” said Linabari, who said his parents helped him pay off his own. your loans. Fox News.
College attendance increased by 169% from 1980 to 2019, according to a report from Georgetown University. About 43 million Americans owe $ 1.7 trillion in student debt, according to the Department of Education.
“We are making these 18-year-olds make these decisions for life with a lot of money,” Gomez, who said he received subsidies and scholarships to avoid student loans, told Fox News.
Matteo Gomez, a graduate student at the University of Bari, told Fox News why he opposes student loan debt (Megan Myers / Fox Digital)
Nicholas Hale, a student at Brigham Young University, offered to help students “make more informed and financially sound decisions.”
“Much of the debt comes from poor planning and poor financial practices,” he told Fox News.
Gonzalez Garcia said that as a first-generation student, she had “little or no knowledge of the impact of student loans” after graduation. She said she was not sure how long it would take to pay off her debt.
Hale said he combined two jobs last summer, working about 60 hours a week to pay for study abroad. He told Fox News that he has no student loans and is on track to repay “all his way through college.”
Simplifying student loans is “unfair to people who plan, work and save money” for their education, Hale said.
Gomez similarly told Fox News that everyone should pay for their own student debt because it is “an investment you make for yourself and not for someone else.”
He added that his parents came to the United States from Colombia to give him a better future.
“I’m not going to disappoint them, so that was a big motivating factor,” Gomez said.
Amanda Gonzalez Garcia, a student at the University of Bari, told Fox News that she supports the forgiveness of student loans because she herself has student loans (Megan Myers / Fox Digital)
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Gomez told Fox News that if we forgive student loan debt, it “should focus on low-income families.”
The education ministry said on Tuesday, after Fox News interviewed students, that it would make it easier for borrowers on low-income student loans to receive forgiveness.
“I think there are people who really need help,” Hale told Fox News.
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Knight, who said her loans from her bachelor’s and master’s programs are in six figures, told Fox News: “The conversation is not just about paying off student loan debt. It is about tackling the root causes that spread inequality between the lower and middle classes. “
The student loan debt “prevents us from advancing this generational inequality and the poverty we are striving to get out of by achieving these higher levels,” Knight added.
She also said that the low salaries that recent graduates receive prevent them from repaying student loans quickly. Americans are not “given the resources they need to live a sustainable and comfortable, financially secure life,” Knight said.
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