In an announcement that fulfilled a key campaign promise, President Biden unveiled his plan on August 24 to forgive $10,000 in student loan debt for all borrowers earning less than $125,000.
The plan also forgives an additional $10,000 for Pell grant recipients, and extends a pause on student loans through the rest of the year.
As college students across the country return to campus for a new semester, there’s no doubt that concerns over tuition and debt are plaguing many. According to Data USA, 60% of Sonoma State undergraduates received financial aid through grants in 2020, and 34% through loans.
Robert McNamara, a professor of political science at SSU, further stressed just how impactful this decision will be, stating, “Biden’s Executive Order means approximately 41 million debt holders will be eligible for some form of student loan forgiveness. 20 million could have their entire debts canceled.”
For one 2021 graduate, who chose to remain anonymous, this economic relief will be immense. She stated, “As a first generation college student, I had to navigate college myself, and thought taking out what I now understand to be life-altering loans at such a young age was just a part of life.”
The student, who is also a Pell grant recipient, and therefore eligible for a total of $20,000 in debt forgiveness, expressed her gratitude at having 75% of her debt alleviated, adding, “I can finally breathe and envision a future that isn’t overshadowed by so much looming debt.”
Although Gen Z has been criticized at times for being politically apathetic or performative in their activism, McNamara emphasized that, “This student debt relief would not have happened had youth not turned out to vote in 2020…”
The 2021 graduate was one of those who turned out, stating, “I genuinely love voting! I vote in all major elections, and most local ones. I feel extremely fortunate to live in a state that has easy access to voting.”
Robert Wiles, a third-year psychology major, echoed these sentiments, stating, “I’m registered to vote. I voted in the last presidential election because I have a right to vote, so I might as well try to make a difference with it, even if it is admittedly a small difference.”
Data shows that students like these possess significant democratic influence.
McNamara cited a recent NextGen America report, which indicates that millennials and Gen Z are the largest voting bloc in American history, with 65 million people eligible to vote. “That’s a lot of potential political power…if one turns out to vote,” he wrote.
According to an article by the Washington Post, a historic 53% of 18-29-year-olds voted in 2020, up nine percentage points from 2016. This marks the first time the demographic has exceeded a 50% turnout since 1988. However, with older Americans still outvoting them, they will need to show up in historic numbers again in 2024.
Though some students may remain pessimistic about voting, and discount the relevance of politics, Biden’s announcement proves that election outcomes do in fact dictate major aspects of their lives.
With the November midterm elections fast approaching, and the 2024 presidential election not far off, there’s never been a more crucial time for students to make sure they’re registered to vote and get politically engaged. Their futures depend on it.
Students can visit https://www.sos.ca.gov/elections for information on elections, registration and deadlines.
