Student debt fears lower the bar for low income students

Student debt fears lower the bar for low income students

As the pandemic stretches on, President Biden Joe BidenUS ambassador to UN calls Putin’s peacekeeping forces ’nonsense‘ US relocates Ukraine embassy staff to Poland UN Security Council to hold emergency meeting at request of Ukraine MORE has come under pressure from Democrats to cancel student debt in amounts larger than he has supported. They argue the move would narrow the racial wealth gap and help lead an economic recovery and they have demanded immediate executive action.

The goal of Congress and the White House should thus be to ease the path to and through higher education prospectively – by providing access to inexpensive loans – rather than simply relying only on loan forgiveness after graduation

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Biden has promised to address student debt but spoken in terms of only $10,000 in relief. This month, Senators Charles Schumer Chuck SchumerSenate Judiciary chair wants Supreme Court pick confirmed by early April Why Congress must vote on a new Iran nuclear deal American unity is key to a Europe whole and free MORE , Elizabeth Warren Elizabeth WarrenElon Musk shuts down Warren claim that he doesn’t pay taxes Senate confirms Biden FDA nominee Biden’s FDA pick clears key Senate hurdle MORE and others called for $50,000 of debt to be forgiven for any American, regardless of income level, raising the ante against prior Senate and House resolutions that called for smaller amounts of relief.

With the political rhetoric so charged and a major policy decision potentially looming, I decided to look closely into the issue of how college debt affects low-income students in higher education and their families. Over the last year and a half, after talking with many in different parts of the country, I observed first-hand the crumbling of the national promise to provide equal access to higher education and educational opportunity to all.Continue reading