From the superb Rep. Jennifer McClellan (D-VA04):
McClellan Statement on SCOTUS Student Loan Cancellation Decisions
Washington, D.C. – Today, Congresswoman Jennifer McClellan (VA-04) issued the following statement after the Supreme Court released its decisions in Biden v. Nebraska and Department of Education v. Brown:
“Today’s Supreme Court decision is devastating to the 43 million borrowers who counted on President Biden’s one-time relief offered in response to the extraordinary pandemic economic pressures. This decision will inevitably hamper the economic mobility of millions of college students and graduates that are overburdened by crushing student loan debt.
“Since 1980, the total cost of four-year public and private colleges has nearly tripled, even after accounting for inflation. This disproportionately impacts low- and middle-income Americans, first-generation college students, and communities of color, who pursue higher education to create new opportunities for themselves and broaden their future career prospects. These financial strains were only further exacerbated by the coronavirus pandemic, and families felt the pressure of financial instability while attempting to maintain their health and safety.
“Over 20 years ago, Congress enacted the HEROES Act to authorize the Secretary of Education to provide relief to student-loan borrowers when a national emergency struck. The language of the bill was plain and the legality of the Secretary’s ability to provide such relief was clear. Today’s decision by the Court is a blatant overreach of their judicial authority.
“Hardworking families in Virginia and across the nation would have benefited tremendously from this relief, as Americans would finally experience some financial breathing room. Congress must do more to address the student loan crisis millions of Americans currently face.”