A debtor’s prison?
He says he worries about the future for current and prospective college students, but he also understands the Biden relief program’s critics.
So far, he has $7,500 in student loans, which he expects to be more than $10,000 by the time he completes his undergraduate work.Even though he’s going to rack up hefty student loan debt and most of his friends have some level of loans for school, Chung said he doesn’t support the forgiveness plan. “If the federal government does get rid of the loans like this, it really won’t stop the price of colleges from increasing,” Chung said. “If they know these loans are going to get forgiven, they will keep raising their prices.”
“We haven’t made a payment that large. Last time I made a payment, it was a little over $500 a month,” the 44-year-old West Caldwell woman said. “I’m not sure how we’re going to afford a payment that is now nearly double what it was last time we paid.”
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