"In one of the most anticipated decisions of its current term, the U.S. Supreme Court has struck down President Biden's sweeping plan to discharge some or all federal student loan debt for tens of millions of Americans," NPR reports.
"... While much can be said about the court's decision – and no doubt will be in the coming days – here are five things to know about what it will and won't mean for borrowers and the country.
... Many borrowers' financial situations have changed, and their repayment options will need to change as well. Call centers will need more and better-trained workers in anticipation of the months-long onslaught of calls they'll face from confused and anxious borrowers.
... 'It is possible that loan servicers may be overwhelmed with a high volume of inquiries,' says the National Association of Student Financial Aid Administrators (NASFAA) in a warning to borrowers. 'It is possible you may not reach your servicer via phone the first time you call, and you may need to call a few times before getting connected.'"
NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.
Publication Date: 6/30/2023