President Biden made a major announcement on reducing student loan debt Wednesday. It comes just as college students arrive on campus, many already saddled with huge loans. They spoke to McLoganTV about what the plan means to them and their parents.
Student debt is considered a gateway issue for younger voters, affecting their views and decisions on career choices and housing affordability."By reducing student loans, by wiping out some of the debt, he's going to appeal to younger voters and younger families who are going to help their kids," political analyst Lawrence Levy said.
"We go right from school and into the workforce, and we have other bills to pay and to have loans on top of that, it's really difficult," said Jason Vasquez, a college student in debt. "I want to say to all the students and their families who are out there, college and university is ultimately a great return on their investment," Farmingdale State College President John Nader said."College is a way for students to go and branch out their wings and fly," he said.A recent poll shows that a narrow majority of American adults support forgiving up to $10,000 in federal student loan debt.
After Biden's announcement, some student loan websites reportedly crashed because so many people were trying to check their balances. Borrowers were getting messages that the sites were experiencing an extremely high volume of visitors.
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