The Supreme Court on Friday struck down the Biden administration’s plan to cancel student-loan debt, giving opponents and proponents of loan forgiveness the chance to square off again on a debate that’s gripped Americans for months.
— The Heritage Foundation, a conservative think tank Draeger’s comments were just one example of the chorus of voices, each with their own take on how student-loan cancellation would have been a boon or a disaster for millions of Americans. Liberals cry foul over ruling The liberal-leaning National Consumer Law Center, a nonprofit based in Boston, Mass. that advocates for low-income people, was in stark disagreement. Abby Shafroth, the organization’s co-director of advocacy, “We are deeply disappointed by this decision: It is wrong on the law and threatens the financial security of millions of low-income Americans who are struggling with unaffordable student-loan debt.
Pell Grants are means tested and so recipients come from low-income families, Looney said. Some 42% of dependent Pell Grant recipients’ parents were in the bottom 25% of the income distribution when they started college, and almost none are in the top quintile, he said. Very few of their parents had either a bachelor’s or a graduate degree . “They are a substantially disadvantaged group,” he concluded.
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