Washington, D.C. – Today, U.S. Senator Reverend Raphael Warnock (D-GA) released the following statement after the Supreme Court blocked President Biden’s plan to cancel $10,000 of student loans for Americans earning under $125,000, and cancel $20,000 for Pell grant recipients.
“This ruling is devastating news for millions of borrowers. The Supreme Court’s decision to usurp the President’s executive authority to provide meaningful debt relief isn’t just bad for the everyday, hardworking Georgians who are being held back financially by crippling debt, but it is also terrible for our entire economy and sets a dangerous precedent that binds the hands of the elected executive from taking action that reflects the will of the people.
“In light of this ruling, and as borrowers in Georgia and across the country also brace for the economic punch of the return of loan repayments, we have an even greater moral urgency to deliver relief for these borrowers. And in the long-term, it is imperative that Washington help prevent future students from suffering similar financial burdens by bringing down the costs of college so that the promise of higher education is more affordable and accessible.”