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President Joe Biden's plan to forgive up to $10,000 in student loan debt for Americans who meet financial need requirements was largely supported by Penn State Altoona students, who said Wednesday that college is expensive and the program could help people avoid going deeper into debt as they continue their lives after school. A few, though, voiced concerns over how the government would pay for the loan forgiveness project.
While details on the plan remain unclear, basic information released Wednesday state the program is geared toward individual borrowers who earn under $125,000 a year and families who earn under $250,000 a year. Pell Grant recipients could also receive an additional $10,000 in debt forgiveness.
Cancellation is also limited to loans that were made before July 1, 2022, so many current students would not qualify.
The White House estimates that 20 million Americans could have their debt completely relieved by the plan.
When asked for their opinions on the matter, PSU students voiced their approval and concerns:
"Honestly I think it's a great idea. So many students in this country are in debt. A lot of people don't go to college simply because they can't afford it. That just brings this generation down a step while the rich get to stay richer." -- Anna Mani, 18, Chicago, Ill.
"I think it should be for everyone. Everyone deserves student aid help, those before July 1 and after."
-- Maddox Smith, 18, Camp Hill
"It's going to end up helping people pay back their debt instead of going deeper into the hole." -- Michelle Cates, 19, Huntingdon
"I've met a lot of people on campus whose parents are paying for their schools. I am paying for my own school, car insurance and paying off my car at the moment, too. So it would definitely help people who are in my situation more and I do appreciate it." -- Zoe Maurer, 18, Beaver County
"This government just keeps printing money. Inflation's everywhere, I'm not sure if it'd help. I think [Biden] should work on lowering the cost of tuition before he does that." -- Max Pearson, 18, Philadelphia
"It's good, I guess. I just don't know how they're going to pay for it." -- Justin Zhang, 19, Nutley, N.J.
"It's a start. I wouldn't say it's enough compared to the probably millions, billions the government has and could probably give to students." -- Conor Walters, 18, Walkersville, Md.
"Students and previous students need that forgiveness, especially now with everything going on in the world. It's about people trying to better themselves and if that's something they can get forgiveness for, I think it's a good thing." -- Jenna Cummings, 22, Irwin
"I understand the student debt crisis is a big thing and there's not really a right or wrong answer to fixing it. Especially one bill isn't going to do anything towards the massive problem that it is." -- Jacob Reehorst, 18, Lewistown
"As long as he's doing something to make a difference and change people's lives. Some people who are still paying student loans are like 60 years old. You never know what people need." -- Adam Marawan, 18, Egypt
"That would really help me out a lot, so that would be great as long as he follows through with it." -- Emma Wallace, 19, Rochester, NY
"I think that will be beneficial to those who are struggling with loans. Loans nowadays are extremely expensive, especially to pay them back." -- Angel Barnett, 19, New York
"I don't talk about politics that much. Everyone has a different view and everyone should be able to be heard. I think (student loans) can be a little outrageous at times and everyone just wants to get an education but if he wants to help he can help, I guess." -- Jaidyn McCracken, 18, Bellwood