The Biden Administration has announced the final extension of student loan payment forbearance through the end of the year. Individuals making less than $125,000 are eligible for $10,000 in federal loan forgiveness. Pell Grant recipients are eligible for an additional $10,000 for loans serviced via the Department of Education, for a maximum of $20,000.
Despite delaying the issue late into his second year in office, any relief offered by the Biden Administration is certainly better than none. However, this partial forgiveness will not help future generations and still does not solve the student debt crisis.
Any plan which aims to solve the student debt crisis must:
- Include forgiveness of private student loans
- Address predatory interest rates
- Tackle the root issue of college affordability
Now is not the time for lukewarm half-measures. With the midterm elections nearing, Democrats have now alienated everyone with private student loans and anyone with an extreme amount of debt with continually accruing interest. These students have been forgotten, while the political establishment prioritizes capitalism and a system of senseless profiteering.
The West Virginia Mountain Party, an affiliate of the Green Party, calls for the immediate cancellation of all student loan debt and rebates to those who paid some or all of their student loans. The United States is one of the richest countries in the world with a bloated budget that finances war and corporate welfare. It is time we prioritize universal higher education, including trade schools, and an equitable future for all working class people.
In order to fight for policies which benefit the working class, we must elect candidates from a working class party. The Mountain Party is concentrating its efforts on electing the first Mountain Party delegate this November. Learn how you can assist us in electing a delegate who will fight for student debt relief here: https://mountainpartywv.net/contribute-for-2022-victory/