Locals react to President Biden forgiving student loans

YUMA, Ariz. (KYMA, KECY) - Over 800,000 student loan borrowers either have or will receive an email from President Joe Biden this week notifying them that their loans have been fully forgiven.

With the president forgiving billions of dollars in student debt, it has many locals feeling differently.

There are some in the community who are happy that President Biden is forgiving student debt to so many people.

“Well you know it’s pretty tough for kids now a days you need to give them a leg up you know let them have a bit of a break,” said Steve Watson, a local in Yuma.

Others worry where this money will come from, or simply do not like the idea of the president forgiving so much debt.

“I don’t care if you’re a kid or an adult in the real world. When you’re a grown up, you borrow money, you pay it back whatever that is and that money now comes out of the government,” said Frank Coit, another local in Yuma.

As for Arizona Western College, many within the college were surprised by the emails, and while Financial Aid Manager Alejandro Dominguez says the school is happy they are getting help, he cannot help but wonder where the debt money will go.

“As an institution we definitely feel that any aid to our students is great its perfect right we’re all about our students nevertheless at the end of the day that loan or that debt it’s not going to go ahead and just disappear someone’s going to go ahead and pay for it right,” said Dominguez.

Over $127 billion of forgiveness has been granted to over three million borrowers with student loan debt, according to the White House.

Now, nearly another three million owe nothing as part of the Biden Administration’s SAVE plan. 

However, this still leaves the almost 44 million Americans responsible to manage their loans.