June 30, 2023
Media contact: National Consumers League – Katie Brown, email@example.com, 202-823-8442
Washington, D.C. – Today, the Supreme Court of the United States decided to deny relief to more than 40 million student borrowers. Despite the Supreme Court’s misguided ruling, the administration has a number of options still available to deliver relief to borrowers. The National Consumers League (NCL) urges President Biden and Education Secretary Cardona to implement debt cancellation without delay.
“A majority of justices have chosen to ignore the facts of the case, from the plaintiffs’ lack of standing to the administration’s plain legal authority to act, in favor of worsening the student debt crisis,” said NCL Public Policy Manager Eden Iscil. “Fortunately, today’s decision only applies to one statute, the HEROES Act. The administration has a responsibility to protect borrowers by utilizing its remaining options under the Higher Education Act.”
Data on student loan payments estimate that the average borrower will owe between $400 and $500 per month. With repayment set to begin in September, millions of student loan borrowers will default on their debts and face significant financial hardship without debt relief. Indeed, President Biden cited this as a primary reason for his cancellation program. These facts have not changed—9 million borrowers will likely be unable to make payments on their student debts should the Department of Education fail to act.
About the National Consumers League (NCL)
The National Consumers League, founded in 1899, is America’s pioneer consumer organization. Our mission is to protect and promote social and economic justice for consumers and workers in the United States and abroad. For more information, visit nclnet.org.