To Joe Biden and the trolls online: this loan forgiveness just isn’t going to cut it

College tuition isn’t what it used to be. 

So despite some trolls online complaining about President Joe Biden’s student loan-forgiveness plan being too much of a “handout”, the reality is that the money still isn’t enough with this generation’s college tuition prices.

The plan promises to forgive $10,000 of federal student loan debt, or up to $20,000 for Pell Grant receivers, which are loans selectively for those who have financial need. In order to receive forgiveness, people must make less than $125,000 in income per year, or under $250,000 if married.

The plan is applicable only to those who already have student loans. However, according to Value Penguin, tuition costed $25,290 for a public four-year college in the 2018-2019 school year. So for millions of debtors, and especially the ones who received Pell Grants, $10,000 is just one piece of the pie, contrary to what some online trolls may think. 

“Imagine grinding, putting in the hard work and then someone gets it gifted to them,” a Twitter user writes. “Yikes.”

However, today’s tuition prices are not comparable to tuition prices from decades ago. 

It is no secret that inflation exists. According to the National Center for Education Statistics, in the early 1980s, tuition cost around $3,800 in comparison to the $40,000 in today’s world.

Adding on, the loan forgiveness application deadline is approaching. After the cut off, people will no longer be able to apply for forgiveness. But inflation isn’t going to stop, nor is tuition. 

So, to the trolls online and President Biden himself, $10,000 just isn’t going to cut it. However, more loan forgiveness is not the answer either. 

Take a look around the world. Public universities are free of tuition in a number of countries, including Norway, Sweden and Germany. 

Yes, the argument that raised taxes could ultimately place a financial burden on all taxpayers exists, but is it really a problem?

There are many programs in place, like aid for low-income students, that potentially reduce the blow. And not to mention that positive impact that an increased workforce would have on our economy.

So why is the United States making millions of people break their backs to pay tuition, and forcing them to take on student loans that will cost them a lifetime to pay back?

Biden and the trolls online have a choice to make, and loan forgiveness isn’t the right one.