FLORENCE, S.C. — Florence residents disagree about President Joe Biden’s student loan relief plan. Some praise Biden’s decision while others feel that if they worked hard to pay off their student loans, others should too.
On Wednesday, Biden announced a three-part plan to eliminate up to $20,000 of student loan debt for low- to middle-income people.
The first part of the plan will provide up to $20,000 in debt cancellation to Pell Grant recipients with loans by the Department of Education, and up to $10,000 in debt cancellation for non-Pell Grant recipients.
Borrowers are eligible for this relief if their individual income is less than $125,000 and $250,000 for married couples. The second part of the plan extends the pause on student loan payments one last time through December 31.
The final part of the plan will cap what borrowers pay each month based on the money a person has left over after paying taxes and other necessary cost-of-living expenses.
Dennis Richardson said if you asked for a loan and received it, you should pay it back.
“People should pay back their loans,” Richardson said. “It is not fair to people who have worked hard and paid back their loans. We need to hurry up and get Joe Biden out of office.”
Joi Hennigan said she has mixed feelings about the plan.
“I believe that it is a great plan because a lot of people need relief from student loans,” Hennigan said. “The problem is that education is overpriced. You should not have to pay that much money to get an education. Some people will have student loan debt to the day they die and that is not right.”
Hennigan said she believes low- to middle-income families will be taxed to make up for the money that was relieved.
“It has been rumored that the working class will incur the cost in taxes and that is not right,” she said. “The wealthy should be the ones that incur those taxes the working class doesn’t have the money.”
Her husband, Robert Henningan Sr., said he believed the students should be responsible for all or at least a portion of paying their student loans back.
“You have to help yourself,” he said. “People shouldn’t be looking for handouts from the government or the wealthy.”
Verlie Stuckey said the relief plan was a blessing.
“My son has student loans and it is a blessing,” Stuckey said. “This plan gives people a chance to put their money in other places. They can get a home or start a business. It allows people to lead a more fulfilling life.”
Stuckey said it allows people to be more flexible with their income and tap into their fullest potential.
Morris McFadden likes the plan.
“I am happy with the plan,” he said, “and I know that it will change the lives of many people and will help people out in the long run.”
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