There’s a student loan cliff, and Gen Z is sprinting towards it | Opinion
That isn’t all: When you take inflating college tuition costs into account, not only is Gen Z more likely to have student debt, they also have higher balances than any other generation.Going by this trend, Gen Z is sprinting headfirst into what some economists refer to as aLast fall, President Joe Biden attempted to fulfill his campaign promise and unveiled a federal student debt relief program of up to $20,000 in student debt cancellation. Finally, borrowers had a little more room to breathe.
After the Supreme Court ruling, the Biden administration rolled out a new plan to use the legal authority granted by the Higher Education Act of 1965 to cancel student debt. This new course of action will remain in the developmental stages of the “negotiated rulemaking” process for the time being, a hollow victory forThe tedious, means-tested process attached to Biden’s original plan is, after all, what gave the Supreme Court an opening to block student debt cancellation in the first place.
But we won’t stop until someone listens. How can we when our future, and the future of the generations after us, is on the line? We won’t accept the bare minimum, and we’re putting our hard-earned education and activism to good use. Gen Z may not be at the forefront of the conversation yet, but we can certainly be found on the front lines calling for student debt relief and a just racial and economic future for all.
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