Concerns about whether to support Biden’s most recent effort to forgive student debt are divided among students at the University of South Carolina.
“Student loan forgiveness would ultimately increase the cost of school”
In a report from WCCS Radio, Student Catherine stated, “I genuinely believe that student loan forgiveness is a really fantastic concept. I have a lot of student loan debt, thus I think it will be beneficial to assist everyone else who is experiencing the same difficulties.
Kimiko, however, disagreed, telling Fox News that she thought student loan forgiveness would ultimately increase the cost of school.
She predicted that the cost of school would increase the more student loans were erased.
SAVE, Biden’s new student debt relief program, has more than 4 million participants. The idea pledges to reduce the monthly payments for student loans, which will start up again in October.
For around 20 million borrowers, Biden’s idea, termed the Saving on a Valuable Education (SAVE) in late July, would result in lower monthly payments. The program uses income-driven repayment (IDR) plans, which reduce monthly out-of-pocket expenses by linking a borrower’s payment to their income.
One student claims that he is in favor of the plan because he wants to avoid having debt follow him in the future.
I would kind of like to not have that be a thing hanging over me for the rest of my life because I have a lot of school debt, said Ev.
Hammond concurs and adds that rising tuition costs are making it more difficult for kids to pay for education.
Because attending college these days is too expensive, I support any president who gives out free student loans, he declared. “My personal budget, before scholarships and other expenses, is $30,000 per year. We appreciate any assistance.
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Any borrower making $15 an hour or less would not be required to make any monthly payments, according to the application for Biden’s SAVE plan, which was made available in August.
According to a USC student, there should be a strategy to assist borrowers without utilizing public funds.
I agree with [Biden’s loan forgiveness proposal] because I support education. However, Karisma argued that there might be an alternative to imposing taxes on students who chose to attend college.
The Supreme Court rejected Biden’s idea to cancel up to $20,000 in student loans for individuals with low and moderate incomes in June. The plan’s estimated $400 billion price tag fell on taxpayers.
When it was blocked, I was a little miffed,” admitted Hammond. But I once more questioned whether we would actually get the money. So, the key question is whether or not the government will carry out its mandate.
One student stated that he disagrees with Biden’s most recent campaign because he believes that, like any loan, it must be repaid.
Sam responded, “I don’t believe I could necessarily support it overall since it’s kind of like handing out government money. We must return the favor. similar to a mortgage loan.
For the first time since March 2020, interest payments on federal student loans started up again on September 1.
While debt relief is beneficial, according to a different student, it might not be just for people who have previously paid off their loans, reports from CNN.
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