Hi friend,

My name is Keely Magee and I’m the Youth Coordinator for NJDSC. Like so many of you, student loan forgiveness is a top priority for me. 

As you probably know, last month, the Supreme Court ruled to block the Biden-Harris Administration’s student debt forgiveness plan. To say that this ruling is devastating would be an understatement.  

While this ruling didn’t go the way we had hoped, I am still hopeful. In the aftermath of the decision, the Biden-Harris Administration announced concrete actions they are taking to support students and borrowers. Here’s a quick rundown of the three steps the Administration is pursuing: 

• The development of a new, alternative route for providing debt relief to as many working and middle-class borrowers as possible, using the rulemaking process. This approach will provide a broader range of support for those in need.
• The most affordable repayment plan to date: the Saving on a Valuable Education (SAVE) plan. This income-driven repayment plan will cut borrowers’ monthly payments in half, allow many borrowers to make $0 monthly payments, save all other borrowers at least $1,000 per year, and ensure borrowers don’t see their balances grow from unpaid interest.
• The introduction of a temporary "on-ramp" to repayment for up to one year, starting September 1, 2023. Although payments will be due and interest will accrue during this time, this measure will protect borrowers who miss payments from severe consequences, such as default, collection, or negative credit reporting.

NJDSC believes that a college education should serve as a pathway to the middle class. However, for many, the burden of student loan debt has kept this dream out of reach. I’m confident these actions taken by the Biden-Harris Administration will help alleviate this burden for more Americans.

Thank you,

Keely Magee

Youth Coordinator

New Jersey State Democratic Committee

 Paid for by the New Jersey Democratic State Committee (www.njdems.org) and not authorized by any candidate or candidates committee.

New Jersey Democratic State Committee
142 West State Street
Trenton, NJ 08608
United States

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