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College students weigh in on the student loan disaster as Biden once more extends cost pause

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College students who spoke with Fox News have been cut up on whether or not they supported loan forgiveness, however agreed that paying off student debt would not remedy the problem of rising tuition prices.

“Asking young Americans to hold this type of financial debt for 25 years is absolutely outlandish,” Grace Knight, a New York University graduate student, advised Fox News. “It inhibits us from starting a family and buying homes.

“Then, when our children are in a position to go off to highschool, we’re not in a position to assist them pay for these establishments as a result of we’re nonetheless paying off our personal debt,” Knight added.

Grace Knight, an NYU graduate student, speaks to Fox News on why she supports student loan debt forgiveness (Megan Myers/Fox Digital)

Grace Knight, an NYU graduate student, speaks to Fox News on why she helps student loan debt forgiveness (Megan Myers/Fox Digital)

Amanda Gonzalez Garcia, an undergraduate at Barry University, equally mentioned: “How can I really start a life post-graduation?”

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President Biden campaigned on forgiving as much as $10,000 {dollars} per particular person in federal student loans. The administration has thus far canceled $17 billion in loans, in line with the Department of Education.

Forgiving student loan debt is not “going to help the actual problem, which [is] the high costs of college,” Mateo Gomez, a Barry University graduate student, advised Fox News.

Ian Linnabary, an undergraduate student at The University of Utah, equally mentioned that forgiving student loan debt isn’t a “sustainable policy solution” and wouldn’t remedy the “root cause of this problem.”

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“I believe that student loan debt forgiveness is only going to contribute to making college more expensive when the federal government starts pumping money into higher education and financing higher education,” Linnabary, who mentioned his dad and mom have been serving to him repay his personal loans, advised Fox News.

College tuition has elevated 169% from 1980 to 2019, in line with a Georgetown University report. Around 43 million Americans owe $1.7 trillion in student debt, in line with the Education Department.

“We are making these 18-year-olds make these life-long decisions on a lot of money,” Gomez, who mentioned he obtained grants and scholarships to keep away from student loans, advised Fox News.

Mateo Gomez, Barry University graduate student, speaks to Fox News about why he opposes student loan debt (Megan Myers/Fox Digital)

Mateo Gomez, Barry University graduate student, speaks to Fox News about why he opposes student loan debt (Megan Myers/Fox Digital)

Nicholas Heil, an undergraduate at Brigham Young University, urged serving to students ought to be given assist to “make more informed and financially literate decisions.”

“A lot of the debt comes from bad planning and bad financial practices,” he advised Fox News. 

Gonzalez Garcia mentioned that as a first-generation student, she had “little to no knowledge to the impact student loans” might have post-graduation. She mentioned she is not sure how lengthy it should take to repay her debt.

Heil mentioned he juggled two jobs final summer time, working round 60 hours per week to pay for a examine overseas alternative. He advised Fox News he would not have any student loans and is on monitor to pay his “whole way through college.”

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Forgiving student loans is “unfair to the people that plan and work and save up money” for his or her schooling, Heil mentioned.

Gomez equally advised Fox News that everybody ought to must pay for their very own student debt as a result of it is “an investment you are doing for yourself, not for anyone else.”

He added that his dad and mom got here to the U.S. from Colombia to provide him a greater future.

“I’m not going to let them down, so that was a big motivating factor,” Gomez mentioned. 

Amanda Gonzalez Garcia, a Barry University undergraduate student, tells Fox News she supports student loan forgiveness, since she has student loans herself (Megan Myers/Fox Digital)

Amanda Gonzalez Garcia, a Barry University undergraduate student, tells Fox News she helps student loan forgiveness, since she has student loans herself (Megan Myers/Fox Digital)

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Gomez advised Fox News that if we forgive student loan debt, it “has to be focused on low income families.”

The Department of Education introduced Tuesday after Fox News interviewed the faculty students that it will make it simpler for low-income student loan debtors to obtain forgiveness.

“I do think there are people who really need help,” Heil advised Fox News.

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Knight, who mentioned her loans from her undergraduate and graduate applications amounted to 6 figures, advised Fox News: “The conversation is not just about paying student loan debt. It’s about addressing the root causes that are spreading the inequality for lower to middle class.”

Student loan debt has been “inhibiting us from advancing past that generational inequality and poverty that we’re striving to get out of by attaining these higher degrees,” Knight added.

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She additionally mentioned the low wages that latest graduates are paid prevents them from rapidly paying off student loans. Americans aren’t given “the resources that they need to live a sustainable and comfortable, financially secure life,” Knight mentioned.

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