MV Viewer 2022-23 Issue 2

Student Debt Cancellation by Caroline Maves

In August, the Biden administration announced its Student Debt Relief Plan. This includes student loan forgiveness of up to $20,000 for students who have federal student loans and earn less than $125,000 annually. It was rolled out mainly due to economic challenges created by the pandemic. This decision has many people asking questions, not only about student loan forgiveness, but about student loans and debt in general as well. Student loans and debt are getting out of control, and the issue will persist unless a significant change is made to the tuition system. The U.S. government should increase funding for higher education and put a cap on tuition that allows all students to get through college debt free because all students should have an equal opportunity to succeed in later careers without drowning in debt.

While changing the college tuition system is not easy, it is something that will become a necessity to level the higher education playing field for those of all races and socioeconomic backgrounds.