Future Forum Co-chairs Statement on the Supreme Court’s Student Loan Decision
Washington, D.C.– Future Forum co-chairs Congressman Colin Allred (D-TX), Congressman Darren Soto (D-FL), Congresswoman Haley Stevens (D-MI), and Congresswoman Brittany Pettersen (D-CO) today released the following statement after the Supreme Court struck down the Biden Administration’s student loan forgiveness plan.
“Today’s Supreme Court decision is deeply disappointing for the millions of Americans who were counting on this targeted relief. For too long, student borrowers — who are overwhelmingly young people — face increasingly higher costs of getting the degree or training they need to get a good-paying job.
“Congress must now prioritize expanding access and making tuition at our universities, colleges, community colleges and other job training institutions more affordable. This includes investing in programs that help support lower-income students, like Pell Grants.
“There is broad agreement that America cannot give up on investing in our young people. This is a priority not only for our students but for our entire economy as we compete with other nations to lead the industries of the future.
"As student loan payments are set to restart in October, we will do everything we can to ensure students are fully aware of any updates or changes to their loans. We encourage them to stay in touch with their respective service providers.
“One positive note from today is that the updated and improved loan repayment plans proposed by the Administration remain intact, which will help many borrowers tremendously. The Future Forum Caucus remains committed to building on these common-sense reforms to make higher education more affordable."
Background on student debt in America:
It is estimated that more than 45 million Americans collectively owe over $1.7 trilling in student debt.
Momentive conducted a study finding that 15% of U.S. adults have federal student loan debt, and women and people of color are disproportionately represented in this group. About 24% of Black adults say they have federal student loan debt, compared to 15% of Hispanic, 14% of White, and 11% of Asian adults. Women (19%) are also more likely than men (11%) to have student loan debt.
According to a Brookings Institute study, Black college graduates held $24,720 more in student loan debt than white graduates on average, pushing Black borrowers to remain more than three times as likely to default on loans within four years as white borrowers.
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About Future Forum Congressional Caucus: Established in 2015, Future Forum is a generational caucus comprised of 51 members from a diverse cross-section of the Democratic Caucus who are 50 years and younger. Future Forum represents the next generation of leaders in Congress and includes members of all ideological and identify caucuses in the House, members of the Democratic leadership, and the first Gen Z Member of Congress.
To learn more about Future Forum: https://futureforumcaucus-allred.house.gov/