Days before the student loan repayment pause was set to expire, President Joe Biden announced on Aug. 24, 2022 that he is canceling $10,000 in student loan debt for millions of borrowers and extending the pause on payments and interest accrual for federally-held student loans until Dec. 31, 2022. Since that announcement, there have been multiple lawsuits aimed at stopping the debt relief program, two of which ended in court decisions which achieved that goal. The Biden administration appealed both decisions to the United States Supreme Court, which was struck down on June 30, 2023.
NASFAA has compiled the following resources for members and will continue to update this page as more guidance becomes available.
NASFAA policy experts are available to discuss the implications of the Biden administration's loan cancellation plan. Media inquiries can be directed to NASFAA Director of Communications Allie Arcese.