Student Debt: BE GONE

Alexandria Williams, Staff Writer

   Waking up in the morning and realizing how much student debt you have is not a great way to start the day. To the extent that they can barely pay their bills, there are so many people in the world who are buried in student debt, even years after college or after paying small amounts over time; thus, student loans should be canceled. They don’t benefit anyone and in reality just cause hardship for those who have it.

   Many may ask why or how this will be beneficial to those who are in debt. Canceling student loans will aid many people who struggle financially, including those who are facing the economic impacts of the pandemic or are dealing with any other illnesses. Student loans are so expensive that it is estimated that it will take up to 10, 30, or more years to pay off their loans, which is time that is not granted to everyone, especially if they’re fighting a sickness (CNBC). Treatment for illnesses such as cancer, heart disease, and diabetes can be very costly for some and can be unfeasible to pay for with the addition of student debt.

   The Covid-induced economic recession is also giving those with student loans a tough time. With higher unemployment rates, many people can’t even obtain a decent job to help pay for their student loans. During a recession, the cost of living increases substantially, and many essentials in every household become more expensive. The higher prices prevent people from making ends meet, meaning that, not only do they have to worry about student debt, but they also have to worry about whether or not they can still afford the house they are living in and the valuables that they need for their day to day lives.

   With student debt being a prominent concern around the world, President Biden has decided to keep the promise he initially made as a presidential candidate, introducing the Student Loan Forgiveness program. Lifting a costly weight off of their shoulders, this program grants $10,000 to those with student debt, making people’s lives around the country a little bit easier. Overall, student debt needs to go away; it doesn’t help anybody, nor does it make anyone feel better about their lives. Student debt must be eliminated.