SCOTUS Debates Student Loan Cancelation While Penn State Students ‘Really Hope’ for Approval’
UNIVERSITY PARK, Pa. — President Biden’s student loan forgiveness plan is facing a constitutional battle in the U.S. Supreme Court (SCOTUS) this month.
If the plan proves to be legal, it will relieve students of up to $20,000 in federal student loan debt, according to the Associated Press. If the executive order is struck down by SCOTUS, students are required to pay back the entirety of their loan or look to other federal loan cancellation programs.
Penn State student Johanna Damaghi is stressed over her private student loans, especially when she’s paying out-of-state tuition.
Damaghi (sophomore—community environmental development) said she took out about $30,000 in private loans, but she returned half of it this semester and took out a Parent Plus loan instead. Either way, she’s feeling stressed about repayment.
“I definitely have to work really hard [after graduation] and pay attention to how I spend my money, but I think I should be okay,” Damaghi said.
Luckily, Damaghi applied and was approved for loan cancellation. She said she “really hope[s]” SCOTUS doesn’t knock it down.
Freshman Madison Kent didn’t have federal student loans at the time the application opened, but Kent does question why her out-of-state friends chose Penn State.
“I don’t know why they would come here because it’s so much [money], but I guess it’s the experience,” Kent said.
Kent (kinesiology) said her tuition with housing and meal plan is about $27,000 for the year. She said her private student loan is about $14,000 and has a high interest rate.
“It’s a lot of money to be taking out,” Kent said. “It’s a lot to think about how much it will rack up.”
Kent also plans to continue her education in graduate school, and she’s worried about repayment, especially when it comes to supporting herself.
“I think in the long run it’ll be okay because the longer I go to school, the more money I’ll make,” Kent said.
Alison Patton is a second-year majoring in broadcast journalism. To contact her, email axp5935@psu.edu.
