A new WHYY report is showcasing the burden many face due to student loans and what the current Administration is doing to allay the heavy load. One story is of Kelly Monique Gray, a social worker from Philadelphia, who grew emotional as she recounted the profound impact of having her student loans forgiven. Her testimony unfolded during a roundtable discussion held in the heart of North Philadelphia’s Fairhill neighborhood.
Gray revealed the staggering burden she had been carrying: a total of $350,000 in student loans accumulated across her pursuit of various degrees, including associates, bachelor’s, and master’s. She had even embarked on a Ph.D. program, only to be halted by financial constraints. To compound matters, she had taken out loans to support her daughters’ college education.
The weight of this debt had constrained her life for years, impeding her ability to qualify for a mortgage, travel, or build a financial safety net for emergencies, Gray lamented.
When she received the letter notifying her of the forgiveness of her student loans as a recognition of her service as a public servant, Gray initially harbored doubts.
“I didn’t believe it. I went on [the] FAFSA website. It was all zeros,” she told WHYY. “I called my daughter because she was so overwhelmed for not helping me. I never thought that I would ever, ever get this done.”
Vice President Kamala Harris participated in a roundtable discussion on Monday alongside U.S. Rep. Dwight Evans regarding the topic of student loan debt forgiveness. The event took place at William Cramp Elementary School and brought together public service professionals to address this pressing issue.
“Most people should not have to carry this kind of worry,” Harris said.
She unveiled fresh student relief initiatives that, if implemented successfully, could benefit over 30 million borrowers. This comprehensive plan entails forgiving any accrued interest on loans for approximately 23 million borrowers, entirely relieving the student debt burden for about 4 million borrowers, and providing at least $5,000 in debt relief to 10 million borrowers.
The plan incorporates automatic student debt cancellation for borrowers that:
- Initiated repayment over twenty years ago.
- Are eligible for loan forgiveness through either the Saving on a Valuable Education plan or the Public Service Loan Forgiveness program but have not yet submitted an application.
- Possess current balances exceeding their original borrowing due to interest rates.
- Enrolled in programs of low value.
- Or are encountering hardship as they strive to repay their loans.
Individuals in public service jobs, which often pay lower salaries than the private sector, often suffer the most, Harris said.
“Many are silently struggling with student loan debt. God knows we don’t pay them enough in the first place,” she said. “But so many of them nonetheless will choose to stay in these important roles because it is a calling for them.”
