Green Bay student says he’s grateful for loan debt relief announcement | WBAY
GREEN BAY, Wis. (WBAY) – Breeze Christian of Neenah is entering his senior year at the University of Wisconsin, Green Bay.
While he is looking for a post-graduation job, Breeze says he is grateful for the head start President Biden provided him with, which will make the job search a little easier.
“It’s something that I think will give me advantage straight out that I know a lot of people in my past like family and friends didn’t quite have, so I’m feeling very fortunate to live in a time where it will be available to me,” Breeze said.
The Biden Administration says it is canceling up to $10,000 of federal student loans for borrowers who make under $125,000 a year. If those of you who are within that income range and also received a Pell grant, you can seek forgiveness for up to $20,000 of your loans.
This decision impacts current students as well as those who took out federal loans before July 1 of 2022.
“It’s just very relieving, it takes a lot of stress off. yeah, going towards a house will probably be my first decision if I’m going to have this new expanded flexibility financially,” Breeze said.
According to Education Data Initiative, the average student loan debt in Wisconsin is $31,900. About a quarter of borrowers owe between $20,000 to $40,000.