Supreme Court Blocking Student-Debt Forgiveness Will ‘Devastate’ Borrowers. No, It Would ‘Punish’ Poor Americans. Who’s Right?

"The Supreme Court last Friday struck down the Biden administration’s plan to cancel student-loan debt, giving opponents and proponents of loan forgiveness the chance to square off again on a debate that’s gripped Americans for months," MarketWatch reports. 

... "'Today’s decision will be 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 while this plan worked its way through the courts,' said Justin Draeger, president and CEO of the National Association of Student Financial Aid Administratorsstudent-affairs organization with over 13,000 members."

"Draeger’s comments were just one example of the chorus of voices, each with their own take on how student-loan cancellation would have been a boon or a disaster for millions of Americans."

"Draeger, meanwhile, said students will need more help navigating a complex student-loan system. 'Communication from the U.S. Department of Education will be critical to ensure borrowers are not left worse off as they move back into repayment,' Draeger added. 'We are encouraged by reports that the Department plans to provide students an extended on-ramp to repayment, but schools and borrowers will need more information as the repayment start date quickly approaches.'"

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

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