How We Can Create a Student Loan System That Doesn’t Crush Americans — Without Cancelling the Debts - Commentary

Cecilia Elena Rouse, former chair of President Biden’s Council of Economic Advisors, and a professor of economics and public affairs at Princeton University (NJ), writes:  Some 44 million Americans owe $1.6 trillion in student loan debt, and more than 7 million of them were in default prior to the pandemic repayment pause. This crushing burden is associated with reduced homeownership, degraded credit ratings, and delayed marriage and childbearing. The Biden administration’s effort to cancel $430 billion of student loan debt, however, was struck down as unconstitutional by the Supreme Court.