Student borrowers have an average debt of $ 37,000, according to the Federal Reserve.

Now Democrats are urging President Joe Biden to write off the student loan debt of millions of Americans. We spoke to a few people about what this might mean for those who are still paying for their college education.

“This debt keeps people from buying cars, going on vacation, starting families,” Senate Majority Leader Chuck Schumer (D-NY) said.

Schumer and several other Democrats are pushing President Biden to write off up to $ 50,000 in student debt per person. They say it will help millions of people – people like Minot State University professor Dr Dan Conn.

“I am in teacher training. I mean, a lot of teachers are in debt, ”Dr Conn said.

He says it’s no secret that education jobs don’t pay well and that loan cancellation would be one less thing he would have to worry about as an educator and students. .

Dr Conn said: “Some of them have to decide, ‘Do I want to take student loans or do I want to work on weekends?’ And one or the other is not a good option. “

Lauren Anderson, senior from Minot State, agrees.

She says that in addition to the pressure of finding a job after graduating, she has to worry about making payments of $ 20,000.

Anderson said, “We have the option of spreading our salary throughout the year instead of summer vacation, but that’s still a problem.”

On the other hand, others say they don’t care too much about it.

“I mean it would be kinda nice if it went away.” I’m not too worried about it. I believe it will work, but it will be great, ”said Colton Miller, MSU student.

Republicans have opposed the idea of ​​canceling student loan debt, saying it shifts the burden from borrowers to taxpayers.

“Well, offering to unilaterally write off the debt that the students chose to take on would create a perverse incentive and would certainly encourage others to needlessly accumulate more loans,” said Senator Kevin Cramer (R-ND).

President Biden had previously said he supported the forgiveness of $ 10,000 in debt, but had shown no interest in pursuing executive action.

But no matter how much is forgiven, Conn and Anderson say it’s one more step towards being free from debt.

Last year, the Trump administration suspended federal student loan payments and set interest rates at zero percent.

After taking office, President Biden pushed the extension at least until September 30 of this year.