UMD Students and Parents React to President Biden’s Student Debt Announcement

DULUTH, Minn.– “Rent, everything, it’s amazing how everything has gone up so high in price that we’ve got one that is going to stay home and just try to earn money. This one is going to college, but she looks to the future and she gets a little nervous with the expenses,” Parents of incoming UMD freshman, Gloria and Mike Magruder, said.

With the beginning of the semester coming up at University of Minnesota-Duluth. Upperclassmen and parents are preparing themselves for the incoming student loans that are just around the corner. But to their relief, on Wednesday, President Joe Biden announced new steps to relieve student debt for a section of Americans. All while extending the pandemic-era pause on student loan payments for the final time.

It has been an issue that has divided Americans and politicians, but borrowers see it as a benefit.

“Yea it’s definitely a relief. I know that I graduate early from college, so I have to start paying my loans off earlier than a lot of my other friends. So knowing I have a little bit more time and relief to handle those is definitely nice,” UMD Senior, Brianna Styles, said.

Biden promised to provide $10,000 to those who make less that $125,000 a year, or families who make less that $250,000. While those receiving Pell Grants, which is reserved for undergraduates who need the most financial support, will have another $10,000 canceled in their federal loan debt.

Some UMD students say that this allows them to take a breath, and focus on graduating rather than paying off loans.

“It is really exciting to be able to actually live life. Not have to worry so much about the financial burdens that everyday carries,” Brianna said.

Although there is some push back from members in congress on the fairness of the widespread forgiveness. Biden’s Administration say that the Education Department will be coming out in the next few weeks with information for those eligible for the debt relief.