Updated: Oct 5, 2022
(PHOTO AP/Evan Vucci)
Surprisingly, or not, there are mixed feelings surrounding President Biden's student loan debt forgiveness plan. President Biden's plan sets out to forgive $10K in student loan debt for some borrowers (and up to $20k for Pell Grant borrowers).
Brown County Tax Payers Association retained Wisconsin Institute for Law & Liberty, Inc (WILL) to sue President Biden and the US Department of Education, Office of Federal Student. Aid. In THE COMPLAINT, Richard Esenberg, President and General Counsel of WILL, among other things, is seeking a "temporary restraining order prohibiting Defendants [President Biden] from forgiving any student loans under the One-Time Student Debt Relief Plan".
Kenneth KJ Staton is a college graduate and former resident of the Town Of Capitol Heights., MD. Currently, he resides in Oxon Hill, MD. "I am disappointed that people feel because they paid their student loans back without the forgiveness, that others shouldn't receive the help. It's apparent that our nation is a nation of extremely selfish people. One can spend their whole life having to pay their loans back. On the other hand, if we can help people get a break, that would mean a lot towards wealth-building in this country," said Kenneth KJ Staton, a borrower who is looking forward to the relief. "I think President Biden is doing exactly what he campaigned that he would do. This is what progress looks like."
Teresa Von Riegen is not a college graduate and is a resident of Carol County and grew up in Baltimore County. "My daughter will get some of the loan forgiveness, but I am still against it. The problem is it only forgives certain people and their loans. That doesn't seem fair. It only favors the lower middle class and the poor. People have learned to work the system. The system favors laziness. Further, I am concerned with all the spending and giving. It's going to mean inflation and higher taxes in the long run. We all will have to pay for it. Also, if we're talking about free education, then let's make it free across the board--for everyone. It should be free for the poor, single mom and for the rich businessman. We just need to know there will be a tradeoff, it will mean higher taxes and probably higher cost of goods too" Teresa said.
Krystal Oriadha recently ran to represent District 7 on the Prince George's County Council. She won her election. Krystal is also a college graduate and a resident of Seat Pleasant, MD. "I will always be for policies that help people in need. Is it enough? No. The longterm solution is lowering the cost of education, but for so many people this program will have a huge impact, " Krystal told The Maldon Circulator.
Regardless of where you are on the spectrum of should the loans be forgiven or not, the loan forgiveness plan will help many people. The question that remains, though, is what will the longterm impact be? Also, will President Biden's plan even withstand the court challenges?