Student Loan Debt Commercial Captures How Many Workers Across America Feel (VIDEO)
President Joe Biden's Student Loan Forgiveness Program has really angered people across the country.
This nerdwallet article points out that combined student loan debt - federal and private - sits at nearly $1.75 trillion, according to the Federal Reserve Bank of St. Louis. In Louisiana alone, student loan debt sits at a combined $22.5 billion. It is important to point out that Biden's program does not cover private student loans.
The President's plan angers Republicans because the money owed doesn't just get "erased" and is passed on to the taxpayers. It angers Democrats because they say the $10,000 in student loan debt being "erased" - and up to $20,000 in loans for those who qualified for Pell Grants - doesn't go far enough.
But, let's take the politics out of it. Many everyday workers are discouraged by the Student Loan Forgiveness Program. Whether they are working to pay off or have already paid off their own student loans, or they work in a profession without going to college, they are frustrated that the financial needs of students are essentially being placed above their own - and that their tax dollars are paying for it.
As someone who graduated college without student loan debt because I worked hard in the classroom to attain scholarships and outside of the classroom to make up the difference, I share in that frustration.
I came across a video from American Action Network that I believe does a great job of capturing how everyday American workers largely feel about student loan debt being "erased."
Does this video represent how you feel? Or do you support student loan forgiveness?
Personally, I'm not upset with these college students. I believe that it's our job as grown adults to teach our young people the responsibility of paying what you borrow. Also, I believe the way many student loans are administered - for example, one loan is often broken up into several loans with different interest rates for each one, paying more interest overall - should be addressed and reformed.
Of course, federal student loans are issued by, you guessed it, the federal government.