Vol. CXXIII Issue 3

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the

Reporter

Stetson University | DeLand, Fla.

Vol. CXXIII Issue 3

The Millennial debt crisis Students weigh in on 2016 presidential hopefuls’ plans for student loan reform Michael Allan Galvez Web Editor

The class of 2015 made history this past spring. According to Mark Kantrowitz, a publisher of the website Edvisor, a site aimed at aiding students in their search of ways to pay for college, the class of 2014 no longer is the most indebted generation of college graduates ever in the history of the United States. That distinction now falls to the class of 2015. “We still live in a country where too many bright, striving Americans are priced out of the education they need. It’s not fair to them, and it’s sure not smart for our future. That’s why I’m sending this Congress a bold new plan to lower the cost of community college -- to zero,” said President Barack Obama at his State of the Union address early this year. Ever since his address to Congress, the issue of student debt and the idea of debtfree higher education is quickly becoming a major political issue nationwide, especially on the campaign trail. President Obama’s plan to give qualified students free two years of community college has been both lauded and criticized by politicians and pundits alike. Some called for free tuition benefits to also apply to a full four-year public college education, while others were reluctant about the costs that the government will incur if such a program would be implemented.

Some were skeptical about the idea’s feasibility altogether. CNN and Time published opinion pieces outlining where the president’s plans fall short, while Al Jazeera and the Los Angeles Times praised the president’s ideas. Nonetheless, the need to reform the current student loan system cemented its place in the minds of both the observers and the political actors involved in the 2016 presidential race. Recent reports from sources including as Forbes magazine estimate that the aggregate student debt for around 40 million Americans reaches into the trillions of dollars. Extrapolations from the government data analyzed by Kantrowitz show that this debt might only grow larger in the coming years with every succeeding graduating class breaking records set by previous graduates if nothing is done. In Florida — the State with the third highest number of electors in the Electoral College — this issue hits very close to the hearts of young voters. According to a financial study referenced by the Tampa Bay Times, Florida is “among the worst states for people coping with student debt, ranking a dismal 40th.”

Some presidential candidates in the running for the 2016 elections presented, in some shape or form, their proposed measures to curb this trend, while others only acknowledged that the issue is indeed present without mentioning any concrete ideas. “These people aren’t talking about it enough,” senior Drew Denston said. Denston is one of the graduating students of the class of 2016 that has growing concerns about the trend that student debt is exhibiting. Concerns, he says, that are not only for his own situation but also for other people that might be relatively more affected by increasing loan debt than he is. “I’m struggling right now to pay for college,” said senior Luis Garcia. “That puts a lot of pressure on me because I want to graduate but [every year] I’m nervous that I might not come back [the following] year because of how much money I have to pay.” Garcia’s parents moved from Peru to the United States years ago and built their lives from the ground up. Nearly 40 percent of students enrolled at Stetson are the first generation in their families to go to college. Garcia is one of them. “If any candidate can find a way to

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control student debt,” continued Garcia, “if anyone can eliminate that worry of whether or not a student can afford going back to school the year after, we could actually go to college and live day to day happily pursuing that achievement of getting a higher education rather than worrying about maintaining our grades alongside working six different jobs to pay off a monthly payment plan for tuition.” Presidential candidates are split among party lines on the best approach to accomplish exactly that. The Democrats feel that government intervention and support of public colleges and universities around the nation is a must. The Republicans disagree and prefer private ways of seeking funding to pay for America’s education. Students, when asked which plan they support, are also split in their opinions. “It’s Jeb Bush for me,” said Denston. “Jeb is the only one who has talked a lot about fixing student loan debt.” “Bernie. Bernie Sanders,” said Garcia. “From what I’m seeing though, it’s going to be really difficult for Bernie Sanders to achieve [his plan] but if he does, I’m sure he’s going to get a lot of supporters.” Some students remain completely skeptical, and are unsure of any of the candidate’s plans to reduce student debt.

Look forward to next issue’s column, which will focus more on skeptical student perspectives on this matter.

Chamber orchestra opens the concert season this Friday Finding the start of the semester a tad stressful? Wishing you could enjoy some passive relaxation while still engaging your intellect? Desperately need cultural credit? If you answered yes to any of these questions, consider attending the free chamber orchestra concert, 7:30 p.m., Friday, Sept. 11 in Lee Chapel.

See more on Page 5 Student spotlight: David Sawyer News, Page 3

Local concert review: Beebs and her Money Makers A&E, Page 5

Is sorority life worth the cost? Read more in this week’s opinion section, Pages 6 and 7 Football victory! Stetson defeats Webber 37-13 Sports, Page 8


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