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Supreme Court Blocks Student Debt Relief for Millions of Borrowers

WASHINGTON, D.C. – The U.S. Supreme Court has blocked President Biden’s student debt forgiveness program in a 6-3 decision. Candace Milner, racial equity policy advocate with Public Citizen, issued the following statement:

“Today’s decision is a huge blow to the 40 million borrowers who would have received much needed economic relief under this program. CFPB data has shown that 2.5 million borrowers are already behind on other forms of debt and 6 million borrowers are at risk for delinquency.  Once payments resume in September, borrowers will face unprecedented financial challenges because of the continued student debt crisis.

“President Biden made a promise to cancel student debt for 40 million people. Although today’s court decision was not in his favor, the president must deliver on debt relief. The Higher Education Act gives the secretary of education the authority to cancel loans for certain borrowers and create new relief programs through the rulemaking process. We implore the Biden administration to use this authority to cancel student debt despite today’s legal setback.”

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