To the editor:
Across the country, student loan debt is the fastest growing financial burden on all Americans. In New Hampshire, we owe $5.9 billion in student loan payments, or on average $32,258.
With debt that high and wages stagnant, housing costs rising, and the cost of living more expensive than ever, it’s no wonder so many of us are struggling to afford our payments.
While I am fortunate that my student loan debt falls below the state average, I still live with my parents to offset this cost, and I watch my friends with full-time jobs exhaust themselves at second jobs so they can afford their monthly payments.
Without change, this student debt crisis will only continue to get worse.
That’s why I support big, structural change when it comes to approaching student debt, and students’ biggest champion in that fight, Sen. Elizabeth Warren.
Warren knows our families need relief from crushing debt, and it’s why her student loan debt cancellation plan will cancel up to $50,000 in debt for 95% of those who have it.
In addition, her newest bankruptcy plan will reform existing rules that make it nearly impossible to include student loan debt when declaring bankruptcy.
For our neighbors already struggling financially, this change will be a crucial step in rebuilding their financial lives.
Seeking an education shouldn’t saddle students with a lifetime of debt. I’m proud to support Warren, who knows that an investment in our next generation’s education is an investment in all of us.