The Jed Foundation (JED) is disappointed by the Supreme Court’s decision to sustain challenges to President Biden’s student debt relief plan, which would have forgiven up to $10,000 in debt for borrowers earning less than $125,000, or up to $20,000 for those who received Pell Grants, impacting the financial wellness of up to 40 million Americans.
At JED, our mission is to protect mental health and prevent suicide for our nation’s teens and young adults. Research shows that accumulating student loan debt increases psychological distress in those ages 18-28. Young people are particularly vulnerable to debt-related distress because they tend to have fewer assets at this phase in their life: The higher the debt, the worse the distress.
Research also show that:
Although today’s ruling is discouraging, JED remains fully committed to advocating for equitable legislation that will best support the mental health and wellness of all students. In line with our mission and commitment, we call on all leaders and organizations focused on youth mental health to join us in identifying opportunities and clear policy levers in advancing youth well-being.
About The Jed Foundation (JED)
JED is a nonprofit that protects emotional health and prevents suicide for our nation’s teens and young adults. We’re partnering with high schools and colleges to strengthen their mental health, substance misuse, and suicide prevention programs and systems. We’re equipping teens and young adults with the skills and knowledge to help themselves and each other. We’re encouraging community awareness, understanding, and action for young adult mental health.
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Vice President, Communications, The Jed Foundation