The president Biden has announced plans to cancel $10,000 in debt for millions of borrowers – but has he gone far enough?
To Pell Grant recipients, the US Department of Education will cancel up to $10,000 in debt and up to $20,000 in debt.
There were many who were pleased with the move, as well as Republicans who were angered, and some who felt that it was not far enough from what they wanted.
My degree cost me $400,000 in debt. Interest keeps accruing. The staggering cost of education in this country makes $10,000 seem insignificant.
At least 15% should have been Biden's relief. In my opinion, he could have done more to assist those with graduate degrees who are unable to work due to academic demands or disabilities.
Having lived in the UK for the past five years, this is going to change everything for me. My Pell grants from George Mason University, a state school in northern Virginia, are about $16,000 remaining.
I ignored the debt since leaving for the UK, knowing it would haunt me once I returned. Currently, I am working for the NHS and attending graduate school to become an allied health professional.
It is just part of the large amount the government will forgive when I reach the required 120 payments for the PSLF program. The $10,000 does not relieve my financial burden.
In a field where jobs are scarce, I make $65,500 per year. It is based on my income that I make my payments, but I fear the day when they are reinstated.