--- title: How We All Benefit From Student Debt Relief description: Four mayors explain that student debt relief will bolster their states economically. canonical: https://time.com/6258489/student-loan-relief-benefits-supreme-court-decision/ author: TIME article:opinion: true article:content_tier: free article:published_time: 2023-02-27T16:20:06.000Z article:modified_time: 2026-10-19T07:13:33.230Z article:section: Ideas og:title: How We All Benefit From Student Debt Relief og:description: Four mayors explain that student debt relief will bolster their states economically. og:url: https://time.com/6258489/student-loan-relief-benefits-supreme-court-decision/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt83fd434cb9b701b3/698a3aa6b21a9c2ec7507003/Student-Debt-Relief-Supreme-Court-Decision-2023.jpg?branch=production&width=1024&quality=75&auto=webp&crop=16:9 og:image:width: 1024 og:image:height: 576 og:image:alt: Student-Debt-Relief-Supreme-Court-Decision-2023 og:type: article twitter:card: summary_large_image twitter:title: How We All Benefit From Student Debt Relief twitter:description: Four mayors explain that student debt relief will bolster their states economically. twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt83fd434cb9b701b3/698a3aa6b21a9c2ec7507003/Student-Debt-Relief-Supreme-Court-Decision-2023.jpg?branch=production&width=1024&quality=75&auto=webp&crop=16:9 ---  # How We All Benefit From Student Debt Relief > Sponsored content. 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It explains how TIME's journalism is made, from the first pitch through the editorial decisions behind a finished story or cover. #### How can I read about how TIME chooses its covers? Inside TIME is the newsletter where TIME's Editor-in-Chief explains cover selection and the editorial reasoning behind major stories. It is free at time.com/newsletters. #### Who is the editor of TIME? Sam Jacobs is TIME's Editor-in-Chief. He writes Inside TIME, a twice-weekly newsletter about the newsroom's reporting and editorial decisions. #### Is Inside TIME free? Yes. Inside TIME is a free newsletter, available at time.com/newsletters. A paid TIME subscription is separate and available at time.com/subscribe-agent. ### Sources * TIME Newsletters: [time.com/newsletters](/c/time-nl-inside-2026q3/newsletters?i=164391db-c169-4c43-9604-a8f10c7ab65a&cr=time-nl-inside-2026q3-v1) ## Video: Students Protest as Supreme Court Weighs Biden Student Loan Plan [Watch (HLS stream): Students Protest as Supreme Court Weighs Biden Student Loan Plan](https://cdn.jwplayer.com/manifests/d6hsRtzh.m3u8) (2:25)  _Published 2023-02-28. Protesters gathered outside the U.S.The Supreme Court as the high court began hearing arguments in a partisan legal fight over President Joe Biden's plan to wipe away or reduce student loans held by millions of Americans. The high court, with its 6-3 conservative majority, heard arguments on Tuesday in two challenges to the plan, which has so far been blocked by Republican-appointed judges on lower courts._ by [Quinton Lucas](https://time.com/author/quinton-lucas/), [Steven Reed](https://time.com/author/steven-reed/), [Frank Scott Jr.](https://time.com/author/frank-scott-jr/) and [Randall Woodfin](https://time.com/author/randall-woodfin/) Feb 27, 2023 4:20 PM UTC Protesters gathered outside the U.S.The Supreme Court as the high court began hearing arguments in a partisan legal fight over President Joe Biden's plan to wipe away or reduce student loans held by millions of Americans. The high court, with its 6-3 conservative majority, heard arguments on Tuesday in two challenges to the plan, which has so far been blocked by Republican-appointed judges on lower courts. by [Quinton Lucas](https://time.com/author/quinton-lucas/), [Steven Reed](https://time.com/author/steven-reed/), [Frank Scott Jr.](https://time.com/author/frank-scott-jr/) and [Randall Woodfin](https://time.com/author/randall-woodfin/) Feb 27, 2023 4:20 PM UTC On Tuesday, Feb. 28, 2023, the Supreme Court will hear arguments in a case[ challenging the Biden administration’s decision](https://time.com/6235974/supreme-court-student-loan-forgiveness/) to cancel the debt of millions of student borrowers across the country. The attorneys general of our states are seeking to block needed relief—the cancellation of up to $20,000 in student debt per resident—from flowing to our communities. They claim this debt relief will harm our states. They are wrong. As the mayors of four major cities (Kansas City, Little Rock, Birmingham, and Montgomery) with significant Black and brown populations, we hope the justices kick this ill-conceived case out of court. The Biden administration’s debt cancellation plan is not only especially meaningful for our constituents, it will also lift up our cities and states economically. In August 2022, Education Secretary Miguel Cardona [announced steps](https://www.ed.gov/news/press-releases/education-department-approves-39-billion-group-discharge-208000-borrowers-who-attended-itt-technical-institute) to eliminate or reduce debt burdens for millions of student borrowers. The plan was targeted at those who need relief the most, with[ nearly 90% ](https://www.whitehouse.gov/briefing-room/statements-releases/2022/09/20/fact-sheet-the-biden-harris-administrations-plan-for-student-debt-relief-could-benefit-tens-of-millions-of-borrowers-in-all-fifty-states/)of those likely to receive debt relief earning less than $75,000 per year. Importantly, this plan would also help more than [40 million student borrowers,](https://apnews.com/article/student-loan-forgiveness-biden-plan-d9c8e18774a744187c9af634bf4eb728) many of whom are at risk of delinquency or default because of hardships brought on by the COVID-19 pandemic. In fact, more than [half of all student borrowers say](https://www.cnbc.com/2023/02/13/financial-stability-relies-on-student-debt-forgiveness-borrowers-say.html) their entire financial stability depends on loan forgiveness. **_Read More:_**[_The Supreme Court Is Set to Rule on Student Loan Forgiveness. Here’s What Could Happen Next_](https://time.com/6258411/supreme-court-debt-forgiveness-decision/) Instead of celebrating crucial relief of economically burdened residents, our state attorneys general decided to fight the plan in federal court. Though millions of borrowers have applied to receive cancellation, none has happened yet. The plan has been put on hold by the lower courts, despite clear and convincing evidence that the states suing won’t actually be harmed by the debt relief. In partnership with the [Public Rights Project](https://www.publicrightsproject.org/), we [filed a brief](https://static1.squarespace.com/static/592c8640c534a5adf895986b/t/63bf1625dbbc35368c0653da/1673467429465/Biden+v.+Nebraska+--+Local+Govt+Amicus+Brief+--+01.11.23+--+final.pdf) joined by 40 local governments in 24 states across the country. Collectively, we represent more than 30 million Americans, including almost 20 million people of color. The point we made to the Supreme Court was simple: When debt burdens of our residents are lifted, we all benefit. When debt burdens are lifted, student borrowers can start new businesses and in turn, create job opportunities for others. They can buy homes for the first time in their lives, pay down other debts such as their credit card bills, and have less reliance on social safety net programs. Reducing educational debt [improves mental health](https://thehill.com/changing-america/enrichment/education/3658639-majority-of-student-loan-borrowers-link-mental-health-issues-to-their-debt/), allows families to start saving, and gives more people a realistic chance to stay in the professional field they actually chose and are trained for. For our four cities alone, the Student Borrower Protection Center [estimates](https://protectborrowers.org/new-analysis-shows-whats-at-stake-for-borrowers-across-the-country-as-president-bidens-political-opponents-attack-student-debt-relief/) that more than 177,000 thousand residents will receive greater than $1.3 billion in debt relief, which includes more than 85,000 borrowers seeing their entire loan balances eliminated. This debt relief will have [intergenerational impacts,](https://www.tiaa.org/public/pdf/i/infographic%5F914625.pdf) as it will allow families to accumulate wealth and support relatives to pursue and complete their own degrees in higher education. Despite the many benefits of freeing our residents of oppressive debt, our states’ attorneys general, however, are claiming that our states will somehow be “harmed” economically by the debt cancellation plan—a strained attempt to establish what is called standing in federal court. What they are really doing is misusing their power in an effort to score political points, all at the expense of our communities and so many people of color. Across the U.S., student borrowers [owe nearly $1.75 trillion](https://educationdata.org/student-loan-debt-statistics#:~:text=Student%20loan%20debt%20in%20the,of%20all%20student%20loan%20debt.). These burdens are borne disproportionately by people of color. Black women are especially hard hit by student debt, as many have fallen victim to the promises of predatory for-profit schools. One [survey](https://edtrust.org/wp-content/uploads/2014/09/How-Black-Women-Experience-Student-Debt-April-2022.pdf) from the Education Trust found that Black women have more debt—an average of $38,800 in federal loans—after completing undergraduate schooling than any other group. These unique burdens have lasting intergenerational effects, as the Institute for Women’s Policy Research [estimates](https://iwpr.org/wp-content/uploads/2020/08/C481%5FParents-in-College-By-the-Numbers-Aspen-Ascend-and-IWPR.pdf) that nearly 40% of Black women in college are caring for at least one child. Overall Black borrowers have more difficulty paying their student debts back. The average Black borrower still owes [95% of their debt after 20 years,](https://heller.brandeis.edu/iere/pdfs/racial-wealth-equity/racial-wealth-gap/stallingdreams-how-student-debt-is-disrupting-lifechances.pdf) while a comparable white borrower owes only 5%. Debt cancellation is a shot at greater equity. Almost half of Latino borrowers and a quarter of Black borrowers will see their[ debts entirely eliminated ](https://www.whitehouse.gov/briefing-room/statements-releases/2022/09/20/fact-sheet-the-biden-harris-administrations-plan-for-student-debt-relief-could-benefit-tens-of-millions-of-borrowers-in-all-fifty-states/)by the debt cancellation plan. Significant reduction or elimination of debt not only lowers or zeroes out monthly payments but also leaves people less vulnerable to wage garnishment, loss of tax credits, or Social Security offsets—among the strict remedies available to those who enforce student debt obligations. We are four mayors who were lucky to have been able to afford our student loan payments, although not without struggle for some of us. But, there are millions of Americans across the country living paycheck to paycheck and forced to make difficult decisions, including whether to pay their student loan bill, or put food on the table for their families or stay housed. Debt relief is critical for our communities. We are urging the Supreme Court to reinstate the program right away to give everyone an opportunity to thrive and ensure America’s families can live stronger financial lives. ## Transcript Student that has got to go make some noise. We're here, lobbying and talking to lawmakers about higher education, affordability, and mental health and will be found out that the Supreme Court today was going to be hearing arguments about in debt relief. We felt like we had to make our presence here, had to show solidarity with everybody that you know, this affect us in college and even if you want to pursue higher education, that is something that is going to weigh it down and not let us know. Prosper in life as we continue, For me, it's going to mean more than just. My vacation is going to be more to my parents who are honestly were quite scared. What I wanted to go to UT Austin. They felt like it was unaffordable but student loans have really helped me at least, you know, being a low-income students helped me and classes for myself out there be involved in organizations, like Student Government insulation, the education for college students. Now it's significantly more than it was at that time. I think that's similar to a lot of them were able to pursue higher education and be able to get a career. And I feel that they're passionate about. I think that we should be afforded that they wanted a wild horse ale because of the high rate of tuition as a result of her covid. Incubation. It's just really important that we also have the ability to pursue higher education and get to Green. I think that and better educated populace is better for everyone. So I don't understand why you wouldn't want to Grant educational freedom to as many Americans as possible. Young people are the future as we all know and I think it's very important to empower them financially and academically in order to achieve all their dreams to remember their people are young people who simply don't have even the generational wealth don't have, the means don't have the resources to pay their college in full, debt-free and as the cost of college continues to outpace inflation, Circle that supported given to those people don't have, the means to repay their debt right away. ```json [{"@context":"https://schema.org","@type":"OpinionNewsArticle","@id":"https://time.com/6258489/student-loan-relief-benefits-supreme-court-decision/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/6258489/student-loan-relief-benefits-supreme-court-decision/"},"headline":"How We All Benefit From Student Debt Relief","datePublished":"2023-02-27T16:20:06.000Z","dateModified":"2026-10-19T07:13:33.230Z","description":"Four mayors explain that student debt relief will bolster their states economically.","url":"https://time.com/6258489/student-loan-relief-benefits-supreme-court-decision/","keywords":["Education","freelance","Biden Administration"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt83fd434cb9b701b3/698a3aa6b21a9c2ec7507003/Student-Debt-Relief-Supreme-Court-Decision-2023.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Quinton Lucas","jobTitle":"","url":"https://time.com/author/quinton-lucas/"},{"@type":"Person","name":"Steven Reed","jobTitle":"","url":"https://time.com/author/steven-reed/"},{"@type":"Person","name":"Frank Scott Jr.","jobTitle":"","url":"https://time.com/author/frank-scott-jr/"},{"@type":"Person","name":"Randall Woodfin","jobTitle":"","url":"https://time.com/author/randall-woodfin/"}],"articleSection":"Ideas","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt83fd434cb9b701b3/698a3aa6b21a9c2ec7507003/Student-Debt-Relief-Supreme-Court-Decision-2023.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Student-Debt-Relief-Supreme-Court-Decision-2023","caption":"Student Loan Borrowers Gather At The Supreme Court To Tell The Court That Student Loan Relief Is Legal","creditText":"Larry French—Getty Images/We, The 45 Million","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/ideas/","name":"Ideas"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/education/","name":"Education"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/6258489/student-loan-relief-benefits-supreme-court-decision/","name":"How We All Benefit From Student Debt Relief"}}]},{"@context":"https://schema.org","@type":"VideoObject","name":"Students Protest as Supreme Court Weighs Biden Student Loan Plan","description":"Protesters gathered outside the U.S.The Supreme Court as the high court began hearing arguments in a partisan legal fight over President Joe Biden's plan to wipe away or reduce student loans held by millions of Americans. 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