Kentucky, what does the Supreme Court decision on student loan forgiveness mean to you?
The Supreme Court struck down President Joe Biden’s student loan forgiveness plan Friday, saying he did not have the authority to forgive more than $400 billion owed by borrowers.
The court’s conservative majority said only Congress could authorize large-scale debt cancellation of government-provided loans. Biden’s plan would have forgiven student loan debt for more than half a million Kentuckians if it had been enacted.
Under the proposed plan, people who earn less than $125,000 a year, or families earning less than $250,000, would have been eligible for $10,000 of loan forgiveness. Recipients of Pell Grants, which are reserved for students with the most significant financial need when attending college, would have had up to $20,000 of debt forgiven. The ruling issued Friday means that will not happen.
The student loan repayment pause comes to an end later this year. Student loan interest will resume on September 1, 2023, and payments on student loans will be due starting in October, according to the U.S. Department of Education.
The Herald-Leader wants to hear from Kentuckians about how this will impact them.
Results from this poll may appear in a future Herald-Leader story. If you have any questions about the poll, or would like to share more of your thoughts, you can contact Higher Education Reporter Monica Kast at mkast@herald-leader.com or 859-334-0595.
If you are having difficulty accessing the survey, it can also be completed by clicking here.
This story was originally published June 30, 2023 at 1:54 PM.