On July 14, the Biden Administration announced a new student loan forgiveness plan to eliminate $39 billion in debt for more than 800,000 borrowers. The announcement comes in the wake of a Supreme Court decision in June rejecting a broader student forgiveness plan.
“Many, many people are going to benefit from this (new plan),” Laura Perna told the Washington Post.
“We essentially have a system right now where, if you want to go to college, many students have to borrow. There’s not a choice,” said Perna, Penn’s Vice Provost for Faculty and a Penn GSE professor. She went on to emphasize the need for a system that minimizes the harm of long-term debt accrued by higher education costs.
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