The Complicated Future of Student Loans

<p>Last week, the Supreme Court struck down President Biden’s sweeping plan to cancel billions of dollars in student loan debt.</p><p>Stacy Cowley, a finance reporter for The New York Times, explains what the decision means for borrowers now facing their first payments since a coronavirus pandemic-related pause and how an alternative plan could still ease their burden.</p><p>Guest: <a href="https://www.nytimes.com/by/stacy-cowley">Stacy Cowley</a>, a finance correspondent for The New York Times.</p><p>Background reading: </p><ul><li>The proposed debt cancellation of more than $400 billion<a href="https://www.nytimes.com/2023/06/30/us/student-loan-forgiveness-supreme-court-biden.html"> would have been one of the most expensive executive actions in U.S. history.</a></li><li>Millions will now have to repay debts that<a href="https://www.nytimes.com/2023/06/30/us/politics/student-loan-borrowers-reactions.html"> the Biden administration had promised to eliminate.</a></li></ul><p>For more information on today’s episode, visit <a href="http://nytimes.com/thedaily?smid=pc-thedaily">nytimes.com/thedaily</a>. Transcripts of each episode will be made available by the next workday.</p>