A twitter thread started on student loan debt by one professor, has pushed many people to talk about the outrageous amount of debt on their necks.
Lacy M. Johnson, a PhD holder in creative writing, revealed that she took a loan of over $65,000 and despite making timely payments to pay back the loan for more than a decade, it hasn’t gotten any smaller.
This revelation spiked up responses from other Americans who seem to be in the same shoes with her.
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Many of these people responded to her thread telling their own stories of how after many years of striving to pay up on their loans, they are getting nowhere. They emphasized on how rapidly growing and unpredictability of the interest rate on the loans makes paying back a near-impossible task. As opposed to what it was supposed to be, student loan now seem like a punishment for getting an education rather than a relief.
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What is even more disturbing is the fact that the wealthy ones with more money in the bank to pay for tuition at face value pays less while the less fortunate ones are made to spend many years of their after-school life dumping what is supposed to be their life savings into an unending ocean of debt which never seem to dry.
From the stories you have been reading so far which are responses to Lacy's tweet, it is obvious most americans and non-americans in the U.S are slowly giving up on their life's dreams of getting married, having lovely kids or even retiring due to their loan debts. Certainly these people have become hopeless on the main reasons why they had to get the education in the first place.
Lacy Johnson, who started the thread, stated her support for presidential candidates like Elizabeth Warren and Barnie Sanders who have it in their plans to reduce or put a total end to this monster by increasing taxes leveraged on the multi-millionaires and stock transactions.
The advocates of students loan forgiveness made it clear how the cancellation or reduction of these loan debts will substantially reduce social inequality and increase social justice. This will of course give room to more people buying their own homes and starting businesses.
With the US presidential election around the corner, candidates who priotize killing off debts are more likely to be the choice of citizens who are held back by debts.
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