Amanda Collins, 39, has spent nearly half her life paying back her $60,000 in student loans for her undergraduate degree at Morehead State University in Kentucky. A social worker and single mother, she took a second job marketing for a car lot to make ends meet.
Collins felt she could finally keep her head above the water when the US government paused student loan payments in March 2020 in response to the coronavirus pandemic. Two years later, President Joe Biden has now announced up to $20,000 in forgiveness for student loan holders, which will slash Collins’ remaining debt to $3,000.
“I’m more of a ‘I’ll believe it when I see it’ type person, but I’m at least hopeful to be out of this nightmare soon,” said Collins, who says she has held off on marriage and returning to school due to student loan debt.