We all know that college is the key to our professional future. Without that degree, our careers would be stuck in first gear and our earning potential is stunted. The problem is that the cost of obtaining that status of college graduate has grown exponentially over the past few years and is unlikely to stop anytime soon.
One of the issues that have come to the political forefront lately is student loans. Several Democrats have proposed that President Biden forgive student loans for those earning under $125,000. While the devil is in the details, I think this is important for two reasons. The first is that it would remove the financial shackle for millions of Americans. The second is that it would give Biden and the Democrats an ace up their sleeve when it comes to the midterm elections in the fall and the presidential election in 2024.
My own loans were paid off a long time ago. I understand why some people disagree with this decision. That being said, I can see the potential in the financial freedom that comes from not having thousands of dollars (if not hundreds of thousands of dollars) to pay off hanging over someone’s figurative head.