IU South Bend students react to student loan forgiveness plan

Published: Aug. 25, 2022 at 6:18 PM EDT
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SOUTH BEND, Ind. (WNDU) - 16 News Now stopped by IU South Bend’s campus to speak with students on how they feel about President Biden’s decision to forgive billions in student loan debt.

The government will forgive up to $10,000 dollars for people making less than $125,000 a year. Pell Grant recipients can receive $20,000 in loan forgiveness. And the pause on federal student loan payments will extend through the end of this year.

The move is dividing Americans and members of Congress. On Thursday, one day after Biden’s decision was announced, 16 News Now spoke with students who both have loans and don’t—and reaction was mixed.

“Any help they can give would be so great,” one student says. “Because it is so expensive to learn and become successful, which is hard when you come from different backgrounds. And so many factors go into it.”

“I don’t have any loans, but I feel like forgiving student loans isn’t worth it for tax dollars,” another student says. “Because, if you really wanted to, you could have gotten a scholarship. Or if you were responsible, you could pay it off without needing loans.”

“A lot of places require a degree of some kind, but people aren’t making the kind of money where it’s easy to repay it,” another student added. “I think this will help a lot of people, and it might help the economy. People can spend more, buy more. I know a lot of people who can’t afford a home because they have student loan payments every month.”

More information about the application process is expected in the coming weeks.

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