The Biden administration’s announcement that up to $20,000 of student loan debt will be forgiven for those earning under $125,000 has received mixed reactions. Nonetheless, leaders of the nation’s community colleges say that the move will change lives. They say the announcement signals serious conversations about college affordability.
Dr. Karen A. Stout
Some are hopeful that the forgiveness could mean a return to postsecondary education for those with some credit but no degree.
“Lifting the burden of debt may be just what these learners need to return to college to gain a credential that transforms their lives,” said Dr. Karen A. Stout, president and CEO of Achieving the Dream, an organization that supports over 300 community colleges working to transform higher education into a space for all.
Stout called Biden’s loan forgiveness “significant” and a “cause for hope, an important step in responding to the financial burdens that the cost of attending college places on too many of our students, particularly those who are economically marginalized, first-generation, and racially minoritized.”
Dr. Michael A. Baston, president of Cuyahoga Community College (Tri-C) in Cleveland, Ohio, said his administrative team has already begun looking through data to discover former students who may have had to stop out for financial reasons. Baston said they are planning a targeted recruitment to bring those students back to the fold to finish their degrees.
“We have the data on those who stop out and drop out, and we can determine if part of the reason is financial, because we often hear it from students. For students going to collections, what are the amounts at play, and how can we align our strategy of bringing them back to school, understanding how we can help them with the forgiveness of the debt,” said Baston.
Dr. Michael A. Baston
