There are 45 million Americans who collectively owe $1.71 trillion in student loans. And it’s no secret that the financial burden of it negatively affects the lives of many former students with education finished and unfinished, in profound ways. From mental health to home-buying, student loans are somewhat of an ever-present shadow looming over for many years to come.

But President Biden has recently given hope to many by ordering Education Secretary Miguel Cardona to prepare a report on the president’s legal authority to cancel up to $50,000 in student debt per borrower. The possibility of Biden forgiving student loans has surely ignited a heated debate on this sensitive, and often sour subject matter.

And while for many American borrowers, the prospect is more than just politics, giving a sense of long-awaited salvation, others have expressed arguments against it. They claim that simply wiping clean the debt is not a solution for the economy and equity. Which side are you on? Hit us in the comment section below!

#1

People-Against-Cancelling-Student-Loan-Debt

burgerdrome Report

Ray Martin
Community Member
5 months ago

I could be wrong, but this really seems like some sardonic irony, and the poster clearly knows that's how any society is meant to function, but that of the U.S doesn't.

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#2

People-Against-Cancelling-Student-Loan-Debt

Jaybefaunt Report

WilvanderHeijden
Community Member
5 months ago

Rich kids also are never unemployed or flipping burgers with a degree in science.

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Nearly 45 million Americans now owe a total of $1.7 trillion in federal and private student loans, for educations both finished and unfinished. The scale of the problem is undeniable in terms of the effects it takes on people's mental health, quality of life, and overall wellbeing.

Now that President Biden has officially stated that he supports forgiving $10k of student loan through legislative action, many Democrats think it’s not nearly enough. Some claim the federal debt forgiveness could easily reach $50k per borrower, and some go as far as saying to erase all the amount altogether.

#3

People-Against-Cancelling-Student-Loan-Debt

kyry5 Report

Sum Guy
Community Member
5 months ago

And americans act like joing the military was a patriotic choice when it was the only choice

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#4

People-Against-Cancelling-Student-Loan-Debt

KyleDaGr8 Report

Full of Giggles
Community Member
5 months ago

We’re hardworking taxpayers too, ya halfwit!

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In an interview with Vox, Laura Beamer, lead researcher on higher education finance at the Jain Family Institute, said that it’s abundantly clear that “people with student debt are less likely to own a house, they’re less likely to start a business, they’re delaying normal financial life cycles than previous generations past.”

#5

People-Against-Cancelling-Student-Loan-Debt

Elizabeth_91 Report

I I
Community Member
5 months ago

so much ME ME ME stopping the progression of others , USA is falling fast due to the WHATS IN IT FOR ME attitude

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#6

People-Against-Cancelling-Student-Loan-Debt

KrangTNelson Report

John Smith
Community Member
5 months ago

"leftistss"? newt? sounds more like a snake.

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For many previous generations, starting a family and saving for retirement were natural life decisions, but student loan borrowers don’t feel like they have the luxury of doing so. “We also know that people 50 and above are the fastest-growth student debt loan-accruing debt group, because they’re taking loans out for their kids or their grandkids,” Laura Beamer added.

#7

People-Against-Cancelling-Student-Loan-Debt

MikeKofiA Report

Sonja
Community Member
5 months ago

Woow...so many people died in war. It wouldn't be fair to them if the war stopped now.

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#8

People-Against-Cancelling-Student-Loan-Debt

AdamLon00077463 Report

I I
Community Member
5 months ago

its how Republicans keep power , keep people so stupid they can't see they are getting conned by the party they think are fighting for them and not big corps

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Another crucial point about student loan borrowers is that not all loans are equal. The economist Steven Deller from the University of Wisconsin Madison argues that “There is a huge difference between someone who assumes a lot of debt and gets an MBA from Harvard or a medical degree from Columbia University, and ... a first-generation student who’s coming from a poor family background and goes into debt and doesn’t complete their degree.”

#9

People-Against-Cancelling-Student-Loan-Debt

antonydavies Report

Watching
Community Member
5 months ago

Hard-core, sad truth.

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#10

People-Against-Cancelling-Student-Loan-Debt

Hux0021 Report

Scagsy
Community Member
5 months ago

Why do so many Americans seem eager to shoot someone but if you need insulin shots, you have to literally choose whether to feed yourself or survive?

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These two individuals are words apart, and while for one, the student debt doesn’t feel like a big deal with a successful career prospect and stable financial background which comes from the family, the other is likely to carry the same burden throughout life, hoping for a cash windfall one day.

#11

People-Against-Cancelling-Student-Loan-Debt

AlejandroAr3nas Report

Scagsy
Community Member
5 months ago

How can people be so selfish? I just can't understand it.

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#12

People-Against-Cancelling-Student-Loan-Debt

GoodPoliticGuy Report

I I
Community Member
5 months ago

ahhh the commy argument , fits all , social health care , socialist learning , but some how not corporate subsidies , funny how that works out

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#13

People-Against-Cancelling-Student-Loan-Debt

idiotsaysthis Report

WilvanderHeijden
Community Member
5 months ago

Or drastically raising the price of something while the quality and quantity diminish.

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#14

People-Against-Cancelling-Student-Loan-Debt

victorthigpen24 Report

hail beavis
Community Member
5 months ago

Please stop censoring words like "crappy". It's not a curse word in any language.

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#15

People-Against-Cancelling-Student-Loan-Debt

pamajo17 Report

Luther von Wolfen
Community Member
5 months ago

The geniuses who went to college figured it out: cancel student loan debt.

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#16

People-Against-Cancelling-Student-Loan-Debt

JoeJane13 Report

MAL
Community Member
5 months ago

I worked my ass off to pay mine off, too. So what? I would have LOVED to not be broke as hell until I was 35 because of student loans. If we have the power to give the next generation a better life, why the hell wouldn't we do that?

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#17

People-Against-Cancelling-Student-Loan-Debt

SquilliumDuqlos Report

Watching
Community Member
5 months ago

And yet, what is funny, is that the conservative party is the party of welfare. And low education. Republicans have their cult right where they want them.

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#18

People-Against-Cancelling-Student-Loan-Debt

thyis1 Report

Helen Haley
Community Member
5 months ago

Universal healthcare, student debt loan, and then regulation.

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#19

People-Against-Cancelling-Student-Loan-Debt

angryblkhoemo Report

Eric Law
Community Member
5 months ago

"Some of her college friends" with college debt go on vacations all the time, etc. The other 99% don't.

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#20

People-Against-Cancelling-Student-Loan-Debt

_oliviagrace Report

Jonah Denny-Mayo
Community Member
5 months ago

How has political strife gotten to the point where we feel it's ok to refer to people as less than human just because they believe in different things than is? Lefties, liberals it just makes no sense how humans have lost all compassion for others.

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#21

People-Against-Cancelling-Student-Loan-Debt

Pale-Yam8117 Report

Helen Haley
Community Member
5 months ago

Ha ha ha ha ha ha ha ooooh best joke today

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#22

People-Against-Cancelling-Student-Loan-Debt

willchamberlain , jennarmathias Report

Watching
Community Member
5 months ago

Conservatives ARE lepers. We should put them on an island and let them eat themselves.

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#23

People-Against-Cancelling-Student-Loan-Debt

burgerdrome Report

Eric Law
Community Member
5 months ago

Personally I think "opulent" *sort of* has a point. Much of the reason that so many people have so much student debt is the increasing cost of education... and nobody seems to be doing anything about that.

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#24

People-Against-Cancelling-Student-Loan-Debt

Bottyboi69 Report

Pungent Sauce
Community Member
5 months ago

Sounds entirely reasonable.

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#25

People-Against-Cancelling-Student-Loan-Debt

mustardpaws Report

I I
Community Member
5 months ago

oil , gas and coal companies decided to do that for a business, but you still subsidise them , only a moron would be cool with that and not forgiving student debt

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#26

People-Against-Cancelling-Student-Loan-Debt

Einteiler Report

Helen Haley
Community Member
5 months ago

We spend untold money on the military. If there are soldiers sleeping in parking lots it is because their superiors want it that way.

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#27

People-Against-Cancelling-Student-Loan-Debt

LordBanaenae1 Report

Sum Guy
Community Member
5 months ago

I swear Americans are brainwashed

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#28

People-Against-Cancelling-Student-Loan-Debt

imgur.com Report

John Smith
Community Member
5 months ago (edited)

"adult children's". I'd bet that person didn't go to a private school, so maybe he should reimburse the taxpayers.

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#29

People-Against-Cancelling-Student-Loan-Debt

loganalIred Report

Aeon Flux
Community Member
5 months ago

Why the hell isn't education a human right?

Sky Render
Community Member
5 months ago

Conveniently, it's very easy to convince the uneducated that education isn't a right. And they'll believe it, because they're uneducated. A vicious cycle.

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I I
Community Member
5 months ago

lol ok buddy , teachers still need paying so if prices drop so does teachers wages then quality drops but who cares ehh ?

Dav Carro-Ripalda
Community Member
5 months ago

Not like that on public universities, "buddy"

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Milan
Community Member
5 months ago

Haha, idiot :D In Slovakia, we have right of education in our constitution. This small post-communist country, in the middle of Europe, have bigger freedom, as your "land of the free"....

Wilf
Community Member
5 months ago

"education isn't a human right". Most American comment I've read all day.

Liam Johann
Community Member
5 months ago

My mom is a teacher. She makes a bare amount of money every year compared to you stupid people who are too thick to realize that teachers make 42K-90K a year. My mom is a great person who spends HER OWN MONEY to make her students expierence better. She's still paying tuition, at 42. If anything, there salary should be increased.

Stannous Flouride
Community Member
5 months ago

Actually, it's an investment. One of the greatest boons in economic and technological development was fueled because of the GI Bill of Rights that repaid service members with subsidized education and other benefits. The theory is that "a rising tide lifts all boats."

Helenium
Community Member
5 months ago

Is he high I mean really you think education is not a right so may as well close the schools keep us all stupid and then nothing will improve. No doctors, no artists, engineers as education is a right. What a d**k.

Sasha Kuleshov
Community Member
5 months ago

Education is a Human Right :I

Vicky Z
Community Member
5 months ago

Thinking that education is a not a human right is not something to be proud about and tell it in the social...i would feel ashamed...

ispeak catanese
Community Member
5 months ago

How can education not be a human right?! What in the ever loving f*****k is this idiot thinking!

Emilie Ruiz
Community Member
5 months ago

Education isn't a human right... Poor sad and lonely america, we pray for you.

Evil Little Thing
Community Member
5 months ago

Tell Jefferson that education isn't a human right.

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#30

People-Against-Cancelling-Student-Loan-Debt

Inevitable_Professor Report

Watching
Community Member
5 months ago

How do you tell someone you're racist without telling them you're a racist?

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