FOR IMMEDIATE RELEASE

June 30, 2023

HACU Denounces SCOTUS Decision on Student Loan

The Hispanic Association of Colleges and Universities (HACU) denounces the Supreme Court's decision to block the Biden Administration's plan to forgive $430 billion in student loan debt for nearly 43 million Americans.

"The aspiration of students attending Hispanic-Serving Institutions (HSI) to better their lives are often hindered by the concern of accumulating student debt, which adds to the challenges they face in pursuing social and economic prosperity," said HACU President and CEO Antonio R. Flores.“ It is projected that the number of Hispanic students in higher education will surpass 4 million by 2026, further highlighting the urgency of finding a permanent solution to the student loan debt crisis that affects millions of Americans.”

HSIs are crucial in higher education, enrolling 5 million students and accounting for 31.2% of Pell Grant recipients nationwide. It is worth noting that seven out of the top 10 colleges and universities ranked by the Social Mobility Index (SMI) in 2022 were HSIs, underscoring their contributions to empowering students from diverse backgrounds.

Student loan payment interest will resume on September 1, 2023, with payments restarting in October. Federal student loan borrowers are encouraged to check the Federal Student Aid website for more information.

President Biden is expected to announce new action on student loans later today. HACU stands ready to collaborate with the Biden Administration and Congress in finding a solution that alleviates the burden of student loan debt.

About HACU
The Hispanic Association of Colleges and Universities, founded in 1986, represents more than 500 colleges and universities in the United States, D.C, Puerto Rico, Latin America, Spain, and school districts throughout the U.S. HACU is the only national association representing existing and emerging Hispanic-Serving Institutions (HSIs). The Association’s headquarters are in San Antonio, Texas, with regional offices in Washington, D.C. and Sacramento, California.