Statement on Federal Student Loan Forgiveness

August 29, 2022

The Biden administration has announced a series of reforms addressing federal student loan debt. As a result of this decision, millions of borrowers who earn less than $125,000 a year could receive up to $10,000 in debt forgiveness. For Pell Grant recipients, this amount increases to $20,000. We recognize that this monumental policy would provide much needed relief for many Mississippians.

We must acknowledge that this decision is just one aspect of addressing a much broader college affordability crisis. While these efforts benefit past borrowers, policymakers must ensure that future student loans act as a responsible tool for opportunity and social mobility, not a cycle of poverty. 

It is our hope that this moment leads to increased discussions and actions around college affordability.  In the meantime, we will continue to serve Mississippi students directly through our Get2College program and engage stakeholders in conversation around increasing college attainment and meeting our workforce needs.