Student loan forgiveness is great, I wish it applied to me – Lansing State Journal


While student loans do not have a huge impact on my daily life at the moment, especially given the payment pause we have been under for a while now, they are nonetheless a daunting part of my future. I have had to take out loans both from Michigan State University and the government to pay for school and housing.
When I heard about the student loan forgiveness, I thought, “Sweet, 10 grand back in my pocket.” That was when I texted my parents asking if they thought we would qualify. My mother responded saying, “Sorry, we don’t. But not sorry!” — my parents combined income falls above the limit set for the loan forgiveness. All of my loans and financial aid are based off of my parents’ income, which seems fair at first. However, I am fronting the cost for my schooling and housing largely alone.
After I graduate, the loans will be in my name being paid for by me. A huge part of the controversy over student loan forgiveness is that people who already paid off their loans before this do not receive any benefit from this. However, my problem is that I will be paying the loans after this and still receiving no benefit. If this happened in four or five years, my income would be mine alone and therefore I would qualify.
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My financial aid being based off my parents’ income has been something we have talked about many times since I started college almost four years ago now. My parents actually urged me to find a friend willing to elope because it would make my financial aid completely based on our two college kid incomes. In that case, I would also qualify for this loan forgiveness. While it seems like an outlandish idea, it did not stop me from proposing to all of my friends in order to save tens of thousands of dollars.
In the end, I believe that the student loan forgiveness is an amazing program that will help so many people. While I wish it applied to me, that does not stop me from appreciating what it can do for others. Student loans seem very predatory regardless — what 18-year-old should be going thousands of dollars into debt anyway?
Anything we can do to relieve this burden on the population is a great thing in my eyes.
Peter Keiser is a student at Michigan State University studying political theory and business.


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