"The U.S. Supreme Court on Friday struck down President Joe Biden’s signature policy initiative to wipe away mass amounts of student loan debt, a blow to higher ed advocates who presented the cancelation as life altering for tens of millions of borrowers," Higher Ed Dive reports.
..."The program could have benefited up to 43 million borrowers, including 20 million who would have had their student loan debt erased entirely, the White House said last year when it announced the plan.
About 26 million borrowers had applied for relief, and the Education Department had approved 16 million of them for loan forgiveness.
Justin Draeger, CEO and president of the National Association of Student Financial Aid Administrators, called the ruling 'difficult — if not devastating — news for millions of student loan borrowers nationwide who have had their financial futures held in limbo for nearly a year.'"
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Publication Date: 6/30/2023