The potential impact of student loan forgiveness

Arianna Heyman

Photo courtesy of the New York Times.

Student Loan Debt has become a crisis in the United States of America. Currently, the cumulative federal student loan debt is at $1.6 Trillion for the 45 million borrowers across the country. 

As Biden’s Student Loan Forgiveness Plan is being contested in the Supreme Court (SCOTUS), students across the country are waiting on bated breath for a decision. 

According to Nicole Belk, Director of Financial Aid and Scholarships at Oakland University (OU), nearly half of the student populus has student loans from the federal government. 

Student Financial Services remark on Biden’s student loan forgiveness plan

Arianna Heyman

On February 28, 2023, the Supreme Court of the United States (SCOTUS), began hearing oral arguments regarding President Biden’s Student Loan Forgiveness Plan. 

The plan, which would relieve qualifying college students thousands in student loan debt has been a hotly contested issue. 

After the plan was implemented,  the Biden administration received multiple lawsuits from republican led states and loan service providers such as Missouri Higher Education Loan Authority (MOHELA).