TUCSON, Ariz. (KGUN) — Some students at the University of Arizona said they are paying up to $60 thousand in student loans. Some of them also said they will be borrowing more in the future.
Dre Arevalo is a sophomore at the university and said she has about $24,000 worth of federal student loans.
She said she finds taking out loans worth it if someone has a specific path and goal in mind they want to follow. She said if she got some of her student loans cancelled, she would have more financial freedom to travel more.
She said the Biden administration should also give other options besides student loan forgiveness like free community college.
However, she also believes the administration should be forgiving all loans.
“You are ultimately investing in the future, investing in a society that’s going to be more educated, so you can’t put a price on that,” Arevalo said.
Will Jones is a student at the U of A who has around $60 thousand worth of private loans. He said it was the most convenient option for his family, but does not qualify for the student loan forgiveness plan because it doesn’t cancel private loans.
“I would apply for federal loans in the future now that I know that they’ve been forgiven to save some money to cut out some of that debt,” Jones said.
Students like Vivi Chacon have not applied yet and are still waiting to see if they qualify. Chacon said she’s hoping to get some of her loans cancelled.
“It’s scary to think that my student loans might follow me after I graduate and that I graduate and then I immediately have this to worry about,” Chacon said.
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