NASFAA Mention: College Groups: Hold Off on Debt Cancellation

"Associations representing the nation’s colleges and universities told congressional leaders on Monday they should put off considering canceling student debt until later. Instead, the American Council on Education, and other associations representing four-year institutions as well as community colleges, in a letter said Congress should focus right now on providing short-term help for borrowers as it considers at least one additional stimulus package. The groups proposed, for example, extending the moratorium on making loan repayments that Congress approved in its last stimulus package, until the nation recovers from the recession being caused by the pandemic," Inside Higher Ed writes.

..."Justin Draeger, president and CEO of NASFAA, worried bringing up the debt cancellation idea would lead to political gridlock and hold up help for borrowers now.

'How to expand and equitably distribute loan forgiveness, not to mention implementing something so complicated, is a much larger conversation that threatens to derail tangible steps Congress could and should take now,' he said."

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Publication Date: 4/21/2020

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