Local students, residents react to federal student loan cancellations
Some Seton Hill seniors are celebrating tonight after finding out some of their student loan debt will be wiped away upon graduation.
“I would definitely look forward to that, and I feel like it would help a lot of people, especially Seton hill students because it is a pretty expensive school,” said student Courtney Thomas
RELATED: Student loan forgiveness: How do you know if you are eligible for debt cancellation?
As many as 14 million Americans are expected to have a portion of their student loans forgiven.
With tuition at nearly $40,000 a year at Seton Hill University, Trinity Wennberg is welcoming the relief.
“Knowing that not only do I go to private Catholic university where it’s a little bit more expensive, having any forgiveness is awesome to me as a student; it’s less that I have to pay back. Any help is always appreciated,” Wennberg said.
Under Biden’s plan, $10,000 will be canceled if you’re making under $125,000 or $250,000 jointly as a household. Up to $20,000 dollars will be forgiven for Pell grants.
While some are rejoicing, other people we talked to are worried about where the money is coming from to pay it off.
“I think it’s a lot of money, and with as much as the debt is, it just seems, where is this money going to come from? And then in a personal way, we paid off our loans ... my husband and I and our kids,” said Kathy Conway of Greensburg. “It’s like, ‘Well geez, they didn’t get any help.’”
11 News will keep you informed with the latest on the loan cancellations, and how it could impact you both, on-air and online.
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