President Joe Biden (Courtesy of NNPA)
President Joe Biden (Courtesy of NNPA)

Biden’s Decision to Continue Helping Those Mired with Student Loan Debts Makes Sense 

It’s been a difficult time for many Americans over the past two years after a new virus, COVID-19, first began to impact the health, wealth and every other aspect of life in our nation. 

And while the numbers related to hospitalizations and deaths currently look more encouraging in their decline, medical experts assert that we are not out of the woods yet – not by a long shot. 

Businesses have closed their doors, homeowners have lost their houses, young adults have moved back home to reduce costs and others have simply thrown their hands into the air in utter frustration and fear. 

So, when President Joe Biden announced that he was considering extending the moratorium on federal student loans, most Americans found reason to celebrate. 

Debt is always difficult to manage but student loans, given the large amounts often incurred by most adults, is even more daunting. And with the interest rates that a majority of people agreed to pay in order to secure their loan, it sometimes seems that the debt will remain with them well into their golden years. 

There has to be a better way to secure a quality college education. But for now, we, like millions of other Americans, anxiously await the president’s announcement, which could come as early as Aug. 24, that he will continue to delay collection efforts for student loans and the requirement that those loans begin to be immediately repaid on a regular payment schedule. 

Further, we hear that the president may waive up to $10,000 on the loan balances for many students – which counts as yet another reason for optimism. 

No matter what you say, most Americans realize that education, quality education, serves as the most effective means of leveling the playing field and providing a pathway to a better quality of life. 

We applaud and support Biden’s decision and await the formal announcement of the good news.

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