According to EducationData.org, “3.2 million new federal loan borrowers and a spike in unemployment fueled the largest increase in the total student loan debt balance since 2013.”
The pandemic affected the lives of students drastically. Many lost their source of income, leaving them with the only option of applying for unemployment to bring in money so they can pay for their classes, supplies and books.
An average public four-year in-state university cost for tuition, fees, room and board in the 2019-20 school year was $21,950. Counting tuition and fees only, it averages around $10,440 and $11,510 for room and board.
The cost of education is the reason why students get into debt. The student debt crisis needs to be fixed so students can have the opportunity to receive higher education.
On Nov. 16, 2020, President Joe Biden said an,“immediate $10,000 forgiveness of student loans just for holding people up, they’re in real trouble, they’re having to make choices between paying their student loan and paying their rent.”
President Biden also said that he will be doubling the Pell grants to grant access to free education for anyone making under $125,000 dollars for four years of college.
Biden has now completed his first 100 days as president, and we haven’t seen or heard much about the student debt crisis which is worrying those in debt and students who want to pursue higher education.
Even though Biden extended the federal student loan payment freeze for eight months, many are questioning if he is going to forgive the student loan debt or not.
After seeing the amount of student debt and seeing how many Americans are involved in debt due to the education system, I don’t understand it. How is this possible?
Education should be something we should strive for and not something we should owe. Allowing more Americans to educate themselves will only make this country greater. Education makes stronger, smarter and more disciplined individuals who will be the future of the country.
It shouldn’t be seen as a privilege to those who have the income to pursue it. The truth is, pursing further education is expensive, but there’s always ways around it like scholarships and financial aid.
Thankfully in America we have schools everywhere with some sort of assistance unlike other countries. But, there should be way to facilitate a path to those who want to pursue further education, because they deserve a chance.
By having these outrageous education costs you are removing capable and intelligent individuals from the school system, who simply can’t afford to pursue a higher education.
Biden should stick to his word and realize that forgiving those in student debt is the right thing to do, because many of those in debt are currently working as doctors, lawyers, mechanics, engineers and architects, which are making this country strong.
I hope Biden forgives the student debt and makes education less expensive so individuals can achieve their educational dreams and aspirations, the same people who are the future of this country.