College is an achievement of life implemented for people from the very beginning. We ask children about their plans for the future: “What do you want to be when you grow up?” While inviting local business owners and zookeepers into the classroom to talk about their responsibilities while casually mentioning, “I had to go to a special school.” As students grow, schools hold career days in the middle of the school year to help students think about their future. Over time, career days have become university fairs. All this is an optimistic plan for maneuvering without a reliable system.
On August 24, President Joe Biden announced a three-part plan for student loan forgiveness — primarily a plan to provide debt relief for lower- and middle-class families. Since college debt is an ongoing financial burden for families and individuals trying to build wealth, Biden’s Plan will provide debt forgiveness relief of up to $20,000 for Pell Grant recipients and up to $10,000 for non-Pell Grant recipients. This plan is the beginning of an opportunity for many people, President Biden called it, “That’s what today’s announcement is about. It is a question of opportunity. It’s about giving people a fair chance. It’s the one word by which America can be defined: possibilities. It’s about providing opportunities.”
Calling university debt forgiveness “elitist” is inappropriate, it’s an insult. Many people have relied on college as a ticket to the middle class – a supposedly safe area to live comfortably. Yet, this cannot happen with a financial burden. Students and adults work multiple jobs to pay for their education while obtaining government loans. It’s not an easy task to attend four different conferences, work 20-30 hours, and maintain a healthy and active social life every week for 16 weeks. It is a painful reality.
Student loan forgiveness is the beginning of the end of this financial burden. Adults will not have an additional bill to pay for the month. A side job shouldn’t be an option for most people, as their primary career should be financially secure. The wealth they earn should be saved or spent to meet the needs of their families. Student loan forgiveness will help people not be overworked and labeled as workaholics – a term that solves the work problem and may have underlying issues with making more money.
Students just want to make their family and childhood proud. They want to make a name for themselves and a life. It doesn’t come easily. Government and college help makes a small difference, but ultimately students will pay the price. Opponents of student loan forgiveness who have an “I suffered and you should too” mentality should realize that there are multiple factors that differentiate the situation. State and local governments also have an effect on this. Forbes States,”When public colleges have less state and local funding, they are more likely to pass the costs on to students in the form of tuition increases, according to a 2019 report from the Center on Budget and Policy Priorities.
Instead of trying to blame students and their families for not taking responsibility, people should look at how the system is broken. It’s no secret that universities are known as a cash grab for all the extra fees that students don’t use. It’s a waste of money for some. The cost of participation has triple since the 1980s as the cost of living rose. In 1980, tuition for a four-year college was $10,231. Now there is a 180% increase, bringing the cost to $28,755. Often, tuition is broken down into four categories: tuition, room, board, and transportation. Most students don’t know where their money is going. Students don’t take advantage of paid services and let money they can’t afford go to waste. Most institutions use their students’ money for ongoing construction before it is ever allowed to be used.
Canceling student loans is the beginning of breaking a generational curse. Our caregivers and media have tasked our young people with getting a college degree, but at the cost of not fully disclosing the pay and responsibility students will bear. While student loan forgiveness may not seem like enough right now, it will be in the future.