HISPANIC FEDERATION: “SUPREME COURT HAS SHORTCHANGED STUDENTS AND ALL PEOPLE WHO DREAM OF GOING TO COLLEGE”

For Immediate Release: June 30, 2023

Contact: media@hispanicfederation.org

NEW YORK – The United States Supreme Court today struck down President Biden’s student loan debt forgiveness plan. Frankie Miranda, President and CEO of Hispanic Federation, issued the following statement in response:

“The Supreme Court’s decision to strike down President Joe Biden’s student loan debt forgiveness plan will only stifle the economic growth of our country and hurt millions of people who were forced to take out exorbitant loans to access higher education. For many young people, college is an unaffordable path to the middle class, leaving them with no other option than to take out six figure loans. For Latino communities, this decision hits close to home. About 35% of Latino students default on their loans, and the fear of taking on debt often deters students from going on to college. President Biden’s plan would have provided much needed relief to people of all ages and backgrounds who used these loans to kickstart their lives. In fact, about half of Latino borrowers would have seen their federal student debt disappear. Instead, the Supreme Court’s latest decision, and their recent decision on affirmative action, shortchanges current and former college students and all people who dream of going to college. The Biden administration and Congress must take action to fix this and provide the much-needed relief our students deserve.”