Well, it’s official. Joe Biden announced that borrowers who earn less than $125,000/year would have up to $10,000 in student loan debt forgiven and those who received Pell Grants will have up to $20,000 forgiven.
This is a massive help for many people as it will wipe out their loans entirely, but so many others will barely notice it.
If you’ve been online at all, you’ve seen the outrage from people who’ve either paid off their loans already or never went to college because they couldn’t afford it. As unfortunate as that is, some of the arguments we’re seeing against student loan forgiveness are pretty dumb.
Most of them say something to the effect of “I suffered and now everyone else needs to.”