AS I SEE IT
By Neal A. Shipman
Farmer Editor
Going to college can be very expensive with many graduates facing hundreds of thousands of dollars in loans once they graduate and head into the workforce and begin the process of repaying that debt.
Every student, and their families, understood that cost when they signed up for the loans. And for the majority of these college graduates they accepted that those loans would have to be paid off just like the loans that they may have on a car or a house or on their credit cards.
But last week, President Biden announced that most federal student loan borrowers will be eligible for some forgiveness: up to $10,000 if they didn’t receive a Pell Grant, and up to $20,000 if they did.
Obviously that announcement drew cheers from students who were facing the reality that they were responsible for repaying their loans.