Biden’s Student Loan Forgiveness Falls Short of Addressing College Affordability Crisis
Experts Call for Systemic Changes to Tackle Rising College Costs and Educational Preparation
According to the New York Post, President Biden wants to help people by canceling a lot of money they owe for going to college. So far, they’ve forgiven around $153 billion in student loans for over 4.3 million people. But some say this doesn’t solve the real problem college costs too much and schools don’t teach students enough before they go to college.
College is getting more and more expensive and many students have to borrow a lot of money to pay for it. This adds up to a huge debt of $1.6 trillion for about 43 million people. People who don’t have much money and minorities are hit the hardest by this. Even though Biden is forgiving student loans the reasons why college costs so much and why schools aren’t preparing students well aren’t being fixed. To help, experts say we need to make changes. These changes include making it easier to pay back student loans based on how much money you make stopping student loan interest from getting too high and forgiving loans after a certain amount of time.
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$1.6 Trillion Student Loan Debt Crisis: Biden’s Forgiveness Plan vs. Addressing the Root Issues (PHOTO: ABC News)
Debt Forgiveness Alone Won’t Solve College Affordability Crisis
Furthermore, just forgiving student loans isn’t enough. We have to fix the main problems. That means making college cheaper and teaching students better before they go to college. We should also give families more choices for schools. This way, we can help more people in the long run and make sure everyone has a fair chance at a good education.
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