With the announcement of student loan debt being cancelled, what does that actually mean for you? We will look at this from different sides so you can decide.
Most people in Wisconsin with student loans will still owe even if President Biden makes good on his promise to cancel 10 thousand-dollars in student loan debt.
The Department of Education says just 30 percent of borrowers in the state would have their student loan debt erased under the plan. The president yesterday said he wants to cancel 10 thousand-dollars worth of debt for most borrowers who make under 125 thousand-dollars a year. Some graduates, however, say the plan isn’t fair to people who paid their own way through school.
When it comes to reaction from lawmakers, Wisconsin leaders are saying what you’d expect about President Biden’s student loan cancellation plan. Democrats at the State Capitol generally like the idea of canceling 10 thousand-dollars in student debt.
Democratic Senator Chirs Larson, though, said he’d like to see college made free in this country. Republicans, like Oconomowoc’s Barb Dittrich say the plan isn’t fair to the people in the state who either didn’t go to college or paid their own way.
Meanwhile, on campus students at UW-Eau Claire are skeptical of President Biden’s student debt plans, saying they wish the president would cancel more of the student debt, but say they will take what they can get.
Though some students are getting their hopes up, they’re not sure the president will actually be able to cancel the debt.
