College debt is hurting Americans across the United States. Did you know that the solution may be voting? Focusing on the 2020 election cycle can help students vote in favor of reducing tuition cost through programs like Loan Forgiveness.

According to College Factual website, t        he average student loan debt is $32,700, and in Arizona this number is $23,000. Over 13 million students owe $25,000-$50,000. The total amount of student debt in our country is $1.5 trillion. This is a 20% increase from the 2015-2016 school year.  It may take college graduates 10-20 years to pay off their debt if they earn about $60,000 a year.

If we want to resolve this issue, we must look at what we can do.

Knowing what policies political candidates support will help you decide who to vote for in the primary and state elections. Fixing student loan debt is a systemic issue, so looking at what can be fixed through legislation mitigates the problem. While it is important to apply for scholarships, it is also important to identify the long-term solution to fixing the student loan debt crisis.  One of such solutions is Public Service Loan Forgiveness program (PSLF).

What exactly is PSLF? This Loan Forgiveness program helps those working full time in the non-profit public sector; for example, government workers like teachers and police officers. The program will pay the remaining balance on your loans after you have made 120 (10 years) qualifying payments. However, not all applications are approved.

According to Federal Student Aid website, currently 45,500 student loan borrowers have had their application processed. 72% of these applications were denied. Another 29% were denied because of incomplete information.  An approved and successful application could help clear over $23,000 of student debt per person, so minimizing the requirements for this program could benefit many students.

Staying informed about Public Service Loan Forgiveness program and knowing which political candidates support expanding it or minimizing its requirements can make you part of the solution.