CANTON, New York (WWNY) – Students are returning to college, knowing that for many of them, a big part of their student debt will be canceled.
News of President Biden’s plan to wipe out $10,000 of college debt greeted returning students and parents at SUNY Canton, as the students moved back into residence halls Wednesday.
“Well, I think it’s great of course,” said returning student Kyle Chen.
“You know student loans are super, super high and they’ve kept getting higher as time goes on and it gets to a point that it gets too much for students to handle.
“So it’s really great that the government’s going and doing something and actually helping people like students and college students,” Chen said.
One parent who was helping move her son in said she wishes that there was a loan forgiveness program when she was in college.
“That would have really helped me; especially now that I have three children in college and I’m paying their tuition and I’m still paying the balance of my student loans. It’s really hard,” said Treena Hall.
The loan program helps people making up to $125,000 a year. President Biden announced details Wednesday, after a reported debate within his administration about the fairness of loan forgiveness.
“You always have to look at how fair is it? How fair it will be based upon the folks who get a college degree earn more compared to those who don’t, and how fair is it overall on moving our economy forward and not pushing up inflation,” said Charles Fenner, a Professor of Management and Business at SUNY Canton.
Classes resume at SUNY Canton Thursday.
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