Locals react to Student Loan Forgiveness Program

Since President Joe Biden announced the Student Loan Forgiveness Program, it has gotten the attention of those who have student loans and those who do not. We hear from Meridian residents about their opinion on the program.

"Well, I believe some reform is needed for the student loan process or program. But I don't know if the forgiveness of all that debt is really the solution to the problem or if that even be beneficial not only to the students but even just to the people who extended that credit to them. I just don't think it's fair, said local resident Stephanie McFarland.

Some local residents agree that the program is a good thing and others believe it’s not. I spoke with a local resident who doesn’t agree with the program and says if you make a commitment to a loan, you should pay it back.

"I don't think it's a good idea. People who don't go to college and go straight to work, they're going to wind up paying for it. If you make a commitment to pay off a loan, you should be able to pay it back. Just like my truck, i made a commitment of $40,000. I don't expect anybody to pay my bill for me besides myself," said local James Hodges.

The Biden Administration stated that up to $20,00 in Federal Debt will be canceled for Pell Grant borrowers and up to $10,000 for people earning less than $125k a year. A local resident who says he paid off all of his student loan debts, says he still believes the loan forgiveness is a good thing.

"I think it's really great. There are a lot of people out there who are struggling with the rapid increase in student tuition. I believe that this is a promise kept. He made this promise in his campaign and he's keeping it. And it's going to be a big help for a lot of people.

One resident says she doesn’t believe the Student Loan Forgiveness Program is fair and says that a better alternative will be to better the loan terms," stated Nathan Parker.

In addition to the Student Loan Forgiveness Program, President Biden has also extended the pause on Federal Student Loan payments until the end of this year.