"The U.S. Supreme Court dashed the hopes of 40 million student borrowers Friday, striking down President Joe Biden’s student loan forgiveness program. The plan would have offered $10,000 of relief to borrowers making under $125,000 and $20,000 to those who had received Pell grants, for an estimated $430 billion of forgiveness. The court ruled 6-3 along partisan lines that a program with such a large impact was beyond the power of the Department of Education to enact without the approval of Congress," Diverse: Issues in Higher Education reports. 

... "Justin Draeger, president and CEO of the National Association of Student Financial Aid Administrators, wondered whether the decision would lead to more lasting fixes in the future."

"'There’s a real impasse on policy reform as it relates to student loans, so I don’t know if this clears the way for us to think about bipartisan solutions,' he said. 'At some point, we need both Democrats and Republicans, Congress and the president, to be focusing on real reform to these loan programs so that today’s and tomorrow’s students don’t have to carry so much loan debt.'"

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