Brooklyn, NY – Today, Democratic Leader Hakeem Jeffries released the following statement after the Supreme Court struck down President Biden’s student loan forgiveness program.
Today’s Supreme Court decision will inflict devastating consequences on the tens of millions of Americans who are suffering under the crushing weight of student loan debt. In August 2022, President Biden sought to ease this burden by canceling $10,000 of student debt for most borrowers and up to $20,000 of debt for Pell Grant recipients — the vast majority of whom come from families making $40,000 or less. This relief would provide a lifeline for millions of working class Americans. Revoking the student loan forgiveness program is unconscionable and unacceptable.
Americans across the country are struggling to purchase a home, start a family, begin a small business and save for retirement because they are saddled with tens of thousands of dollars in student loan debt. The extreme, right-wing Supreme Court decision puts an anchor around the aspirations of millions of young Americans. House Democrats will continue to work with President Biden and the administration to put people over politics, tackle the student loan debt crisis and grow the middle class.