College prices since 1980 have nearly tripled, leaving many graduates in extreme debt. The Biden administration attempted to provide relief for many burdened Americans through their student loan forgiveness plan, which is, unfortunately for many, being investigated and likely to be ‘dismantled’. 

According to the Department of Education, statistics state that the majority of college students graduate with over $25,000 in debt, prompting the United States has to attempt to provide student loan forgiveness. 

Crystal Smith, a former Penn State University student, believes that many students deserve this debt forgiveness. Taking her own precautions, Smith realized just how expensive college would be. 

“I did my first two years at a  Community college to save money,” Smith stated. “The last two years of college is where most of my debt comes in.”

Smith was filled with hope when she found out there was a possible chance some of her debt would be forgiven.

“I think it is great,” Smith continued. “I still am obligated to pay off my debt, but it would be a more affordable payment with some forgiveness.”

College is such a great experience that makes people’s lives so much better, but at what price?

“Graduating College was a huge accomplishment,” Smith said. “I absolutely think it was worth it. The debt wouldn’t be such a struggle if the payments were not insane.”

Many people think college should be free, considering over 75% of jobs require a degree to even be hired. Meanwhile, only 40% percent of Americans have one.

“Education is something that all people should be guaranteed if they would like it,” Smith said.

She has been paying off her debt for over two years and still owes over $35,000.

“Thankfully if the student loan forgiveness gets off hold I should receive 10,000, which would help a lot,” Smith remarked.

Americans were relying on the forgiveness to go through. Finding out that the debt is going to be forgiven, then receiving emails saying it’s on hold for who knows how long, is making many lose hope.

“Lawsuits are preventing the U.S. Department of Education from implementing its one-time student loan debt relief program: we are holding your approved application,” Secretary Cordano sent to many.

 Alyssa Green, a new college student on a full-ride scholarship from Jefferson University, also agrees, even though she understands that many who have received scholarships believe it’s not fair.

“Even though I have a scholarship, I think it’s unfair that many of my peers will be in debt,” Green stated. “I feel like everyone should not have to pay for college. It’s education; it’s the most important thing, and people should stop charging for a necessity.”

Everyone should apply for student loan forgiveness even if they don’t think they will receive it. The White House announced that single borrowers who earn less than $125,000 per year, and households earning less than $250,000, are eligible for $10,000 in loan forgiveness. 

Borrowers who fall under the income caps and received Pell Grants will receive an extra $10,000, which will make for a total of $20,000 in forgiveness for many.

The United States Department of Education assesses that 43 million borrowers will receive relief, and out of that, about 20 million could see their remaining federal student loan balances wiped out. It will make a huge difference in people’s living situations. They will be able to live their lives without having student debt in the back of their mind. This will benefit Americans in all age groups who owe money. As of now, this plan is still on hold.

“I think it’s annoying and unfair that people get their hopes up only to have to wait,” Green stated. “We need there to be change now [as] many families are experiencing extreme debt.”