Students Say $10,000 is Insignificant for Loan Forgiveness

HUNTER COLLEGE–When debating between colleges to attend, some students may value things like a school’s prestigious faculty or bustling campus life. But Zuzanna Maziarz chose Hunter for one reason: “I was looking for college based on monetary criteria,” they said. “I knew that I didn’t wanna be in debt.” 

Maziarz’s worries are rooted in a very real concern. The average federal debt per student borrower is $37,113 — and a typical student takes 20 years to clear this balance, according to the Education Data Initiative. Even Maziarz’s parents are still paying off their own student loans from when they were in college 20 years ago. “I just think that’s definitely money that should be going towards more essential things,” the freshman said. 

The Biden administration recently announced the pause on student loan payments will stay in effect until Aug. 31, making this the sixth time it’s been extended since the pandemic began.