President Biden announced his plans for student loan relief—and of course young people flooded TikTok with their reactions. After confirming that $10K in student loan debt would be canceled for those who make under $125K a year, and $20K for those who received Pell grants for low-income families, Gen Z and Millennials are thrilled. They finally feel less burdened about completing life milestones like starting a family, starting a business, or buying a house; which Biden said are all things that keep the economy going. While some are jumping on to say they wished for more, many student loan borrowers are just happy to see that their advocacy is making a difference in the White House. YPulse’s Education report data shows that while the majority (65%) of students planning to attend college look to their parents for financial support, about 20% are planning to pay through financial aid or loans. (NYT, CNN)
