Kaine Statement on Supreme Court Decision Striking Down Student Loan Forgiveness Program

WASHINGTON, D.C. – Today, U.S. Senator Tim Kaine released the following statement after the U.S. Supreme Court’s ruling in Biden v. Nebraska, which struck down the Department of Education program to provide targeted student loan forgiveness to millions of Americans:

“Many Americans are saddled with a mountain of student loan debt, and they’re putting off buying a house, starting a family, or opening their own business because they chose to pursue their dreams. The Supreme Court’s decision to strike down the targeted student loan forgiveness program hurts millions of Americans and our economy. I remain committed to easing the burden of student debt, lowering the costs of higher education, and expanding access to post-secondary education.”

Last August, Kaine applauded President Biden’s plan to cancel up to $20,000 of student loan debt for Pell Grant borrowers and $10,000 of student loan debt for non-Pell Grant borrowers. Only Americans with incomes under $125,000 per year or $250,000 per year for married couples who file their taxes jointly were eligible.

Studies have shown that borrowers with less than $10,000 of debt tend to have the hardest time paying off their loans because they might not have finished their degree, or may have entered a less lucrative field. The vast majority of these borrowers are people of color.

Kaine has long supported efforts to lower student loan debt and make post-secondary education more affordable by increasing Pell Grant awards, expanding Pell Grant eligibility to job training programs, expanding access to Public Service Loan Forgiveness, providing financial counseling to students and their families on the front-end, expanding dual enrollment and early college high school programs, and making it easier to transfer from community colleges to four-year schools.

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