The Complicated Future of Student Loans

The Daily

The New York Times

Daily News, News

4.4 • 102.8K Ratings

🗓️ 7 July 2023

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

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Summary

Last week, the Supreme Court struck down President Biden’s sweeping plan to cancel billions of dollars in student loan debt. Stacy Cowley, a finance reporter for The New York Times, explains what the decision means for borrowers now facing their first payments since a coronavirus pandemic-related pause and how an alternative plan could still ease their burden. Guest: Stacy Cowley, a finance correspondent for The New York Times.

Transcript

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0:00.0	From the New York Times, I'm Natalie Ketroweth, in for Michael Barbaro.
0:07.0	This is the Daily.
0:18.0	Last Friday, the Supreme Court struck down President Biden's sweeping plan to cancel billions
0:23.4	of dollars in student loan debt.
0:26.0	Today, my colleague Stacey Callie on what the Court's decision means for borrowers, now
0:31.0	facing their first payments since the pandemic, and how an alternative plan could still ease
0:37.0	their burden.
0:46.0	It's Friday, July 7.
0:55.0	Stacey, welcome back.
0:57.0	And Natalie, welcome back.
0:58.0	Your guest hosting again.
1:00.0	Yes, imagine my surprise.
1:01.0	The last time I was guest hosting the Daily, there was big student loan news.
1:07.0	And now, here I am, back with you to talk about more student loan news.
1:13.0	It's a wonky but fun duo act we have going.
1:17.0	So last time, you and I spoke about President Biden's plan to forgive billions of dollars in
1:23.5	student debt.
1:24.5	That was a plan that had generated a lot of controversy.
1:27.5	And now, just last week, the Supreme Court struck it down.
1:33.5	Remind me how that issue got to the Supreme Court.
1:37.0	What was Biden trying to do?
1:38.5	So, the problem the President was trying to tackle here was the issue of crippling student
	...

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