FARGO, ND (Valley News Live) – The debate continues on the issue of student debt. President Joe Biden has offered to forgive $ 10,000 for each borrower.
North Dakota State University students are making their voices heard.
“We’re super seniors,” said NDSU students Matt Sash and Matt Nuebel. “We have a lot of student loan debt. We are pharmacy students.
Whether it’s a super senior or a brand new student, many are.
“I had to take all of my student loan on my own,” said NDSU freshman Sidney Kvam. “I have to pay it back myself. “
Student loans close to $ 1.7 trillion in the United States right now. Yes, it is a trillion, as in the 12 zeros following the one.
“If you’re a full-time student, you might not be able to get a full-time job right away to pay it off,” Kvam explains.
North Dakota’s share of the pie is about $ 2.4 billion, or more than $ 29,000 per person on average. In Minnesota, that number is much higher at $ 25.5 billion, or more than $ 32,000 per person.
“To encourage education, I think that’s a good idea,” Sash says.
“They say education is the best investment you can make for yourself,” adds Nuebel.
These students say they think President Biden’s idea to write off $ 10,000 in federal student loan debt to every borrower is a step in the right direction
“Give us some of that financial relief so we don’t have to worry about being in debt half of our life,” Kvam says.
Then, some oppose it, like Patrick Morstad, second year student of the NDSU.
“Currently, I don’t have a student loan,” he says. “I worked during the summer so that I could pay them with that.”
He says he’s questioning the fairness of President Biden’s idea.
“I don’t think we should be giving forgiveness loans,” he said. “I don’t want to have to pay later.
It also takes into consideration that forgiveness loans would be considered taxable income, which could put a strain on students.
Other than issuing an executive order extending the pause on student loan payments during the pandemic, President Biden has taken no action.
President Biden faces pressure from Democrats to increase the amount. The hiatus on student loan payments will last until the end of September.
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