Fighting to support the next generation of student parents

In response to the House vote to overturn student debt relief, Sameer Gadkaree, president of The Institute for College Access & Success (TICAS) issued the following statement:

Washington – Today, The Institute for College Access & Success (TICAS) released a new series of papers from leading researchers examining how policymakers can make debt-free college a reality for all students.

“Today, President Biden announced that his administration will cancel up to $10,000 of debt for all student borrowers with federal undergraduate, graduate, and parent loans who earned annual incomes less than $125,000, as well as up to $20,000 of debt for borrowers whose incomes fall below those thresholds and received a Pell Grant to help them pay for college.

We welcome the Biden Administration’s actions to address shortcomings of the IDR system, including forbearance steering and flawed payment tracking. The plans announced today will result in immediate balance cancellation for tens of thousands of borrowers under IDR and Public Service Loan Forgiveness and additionally move millions of borrowers closer ...

We applaud the Biden Administration for extending the payment pause for student loan borrowers today, and for providing a critical “fresh start” for millions of borrowers who were in delinquency or default on their student debt when the pandemic began.

TICAS' sixteenth annual report on debt for bachelor’s degree graduates of public and nonprofit colleges, finds vast variation in debt levels across states as well as colleges.