Students, state leader react to SCOTUS student loan forgiveness ruling
HUNTSVILLE, Ala. (WAFF) - The U.S. Supreme Court ruled against President Biden’s plan to forgive billions in student loan debt on Friday in a landmark decision.
The justices said the Biden administration overstepped its authority.
The proposal would have canceled up to $20,000 in student loans for 43 million people. Almost half of those people, all of their student debt would have been completely taken away.
Madisyn Hatter attends Alabama A&M and said she’ll have upwards of $80,00 in loans to pay back when she graduates, and believes every little bit helps.
“That $10,000 would have definitely helped a lot of folks,” said Hatter, “I feel kind of disappointed just because that could have helped a lot of students in need out. Like myself. I’m out of state college student and I need funding because my school is completely paid for by fax or by student loans. "
Head of the Alabama Republican Party John Wahl believes the responsibility of repayment falls on the user.
“I think it’s a good ruling,” said Wahl, “And, you know, it goes back to the fact that the federal government was never designed to pay off people’s individual bills.”
With loan repayment to resume soon after a 3 and half year pause, president of the Institute of student loan advisors Betsy Mayotte believes it’s time to get ahead.
“The goal isn’t forgiveness,” said Mayotte, “The goal is to pay the least amount over time. And for some people that means pursuing an existing forgiveness program like public service, loan forgiveness, or the forgiveness that’s baked into the current income-driven repayment plans.”
Student loan interest will start accruing on September 1 and payments will need to be made by everyone with a student loan starting in October.
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