President Biden Just Announced Debt Cancellation for Some Texas Students
Recently, President Joe Biden announced that some students, which would arguably include some in Texas, would have their student loan debt canceled.
Out of all of the political issues, I confess I find it somewhat surprising that debt forgiveness for student loans tends to be such a contentious subject. People on varying sides of the argument feel passionate about their views, and I respect that. Free speech is part of what makes America the best country on Earth.
But the sheer anger some feel at having anyone's school debts forgiven baffles me.
I was not one of those kids who had my college tuition bill paid for me while attending college in Tyler, Texas, and then Abilene, Texas.
I entered the workforce at 16 and have since remained employed in one capacity or another ever since. I took community college classes as I could afford them and/or relied on the small, but helpful academic scholarships I received.
I would take breaks and work full-time, pick up classes where I could, and so on. I finally finished earning my bachelor's degree and was so grateful--however, I still had loans that I finally finished paying, thankfully.
That being said, college costs have skyrocketed even since I went to college in Texas.
Whatever one's political views are (which are NOT the subject of this or any other post I write), the world has changed, in my opinion. And folks trying to afford college or pay for it after are sincerely struggling--even those who are working hard every day to pay for those loans. I don't personally begrudge that others might be given a little bit more financial grace than I received. I still want them to have it, in cases where it makes sense.
But enough about that for now...
According to a story shared on BuzzFeed, early on Friday, President Biden announced plans to cancel student loans for certain borrowers. The plan is to begin the process in February "as part of a new repayment plan that’s taking effect nearly six months ahead of schedule."
Reportedly, the plan is being moved up to lessen the burden on borrowers as soon as possible.
Who qualifies for this repayment plan program in Texas?
While the Education Dept stated it can't give specifics on the number of borrowers that will be affected, the Biden administration announced that borrowers who are enrolled in the SAVE plan, "originally borrowed $12,000 or less to attend college," and have been making payments for a least a decade are eligible, reports BuzzFeed.
What are your thoughts on this recent announcement from the Biden Administration?
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