How Students Are Reacting To The Supreme Court Decision Striking Loan Forgiveness

Rising tuition prices and interest rates leave students questioning if they can ever achieve financial freedom in the future with the burden of student loans.

Nationwide, students are both financially and mentally impacted by the Supreme Court’s recent decision on federal student loan forgiveness, as they struggle with the burden of the exorbitant cost of higher education in their foreseeable futures.

On June 30, the high court struck down President Joe Biden’s student loan forgiveness plan one day after it barred race-conscious affirmative action in college admissions. Biden’s plan would have canceled up to $20,000 of debt for approximately 40 million people, including Black borrowers who are burdened with a disproportionate amount of federal student debt.

RELATED: Supreme Court Rules Against Biden’s Student Loan Forgiveness Program spoke to a handful of students who will be affected by the decision and they were not shy about their opinions, expressing that students’ decisions to attend or continue college have been largely affected by the recent ruling.

“The federal government continues to underserve students and those who want to pursue higher education. Higher education is NOT affordable and the cost just continues to rise. So as a result more people are accumulating student loans and the interest is so high that so many people will actually not pay them off.”

—Ashlyn Reviere, recent Rutgers University graduate

“I feel as if our economy will take a giant hit from this being that most people are not able to buy homes or sustain themselves even though they have jobs such as teachers, HR workers, etc. Financial freedom is essential for people in the United States to build families and to become sustainable adults. I fear for a future where student debt continues to cripple the youth and prohibits opportunities.”

—Andrea Urrea, senior at Rutgers University

“I feel disappointed considering that a majority of people our age want to further their education, but money is a large part of making the decision on going to college or not. With the loan forgiveness plan, many students, including me, would feel less stressed about the loans building up and be able to just focus on their education.”

—Kaya Buckman, senior at Rutgers University

“I think that education should be free compared to other countries' education. The U.S. is already in debt and holding people back to purchase other things that could possibly go into the economy. I think the least they can do is cancel half of [our loans] because I feel like students are not going to pay off their loans anyway."

—Corey Thompson, senior at Temple University

“I feel really let down by my government. So many young people are struggling to get by due to student loan debt. This was a chance for so many to have more hope and strengthen their financial wellbeing. Student debt relief would have given countless people a new start to better lead their lives with less if not no debt.”

—Molly Clark, senior at Temple University

“The root of the problem is the excessive cost of college in the first place. Student loan forgiveness would’ve been helpful to offset the debt that students incur as they make their way into society. Especially in a time where the weight of a college degree is diminishing,  students should be able to pursue their interests without the hefty price tag and looming cloud of loan debt after graduation.”

—Gianna Sgotto, junior at Texas State University

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