2020 election could shake up America’s student debt crisis
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As the 2020 election cycle approaches, student debt forgiveness policies have become prominent parts of multiple campaign platforms.
Graduating from a private university like Syracuse can be a shocking realization of how expensive it is to attend college in America. SU’s tuition and fees for the 2018-2019 year totaled $51,853 and the cost of attendance was $70,637. Tuition is set to increase by 3.9 percent for the upcoming academic year.
According to recent student loan debt statistics, more than 44 million Americans collectively owe about $1.5 trillion in student loan debt.
“Accomplishing a college education in America is not easy given all the costs it takes,” said Ruth A. Siesfeld, a graduating senior majoring in communications and rhetorical studies. “As a graduating senior at Syracuse, I feel the worry of repaying my student loans due to how SU is an expensive institution and there are added expenses when it comes to housing and books.”
Amy Nakamura | Co-Digital Editor
As the 2020 election cycle approaches, student debt forgiveness policies have become prominent parts of multiple campaign platforms. It’s an election cycle millennials and Gen Zers should watch closely.
Candidates like Cory Booker, Elizabeth Warren, Kirsten Gillibrand and Beto O’Rourke support the expansion of the Public Service Loan Forgiveness program that forgives the remaining balance on direct loans after certain payment and employment requirements are met. Bernie Sanders has been a strong advocate for free education for low income families and low student loan interest rates, introducing the College for All Act. The Trump administration has proposed measures to expand student loan forgiveness to undergraduates and graduate students.
The majority of candidates also agree on improving the transparency of student loan refinance programs and making information on repayment plans and aid more accessible.
Many candidates’ proposals could dramatically shake up America’s student debt crisis, so it is important that graduates explore each candidate’s plans and vote for their interests. That legwork now could prove beneficial in a long term.
Brittany Zelada is a junior communications and rhetorical studies major. Her column appears bi-weekly. She can be reached at bezelada@syr.edu.
Published on May 7, 2019 at 3:36 pm
