Graduates attend Tennessee State University's commencement ceremony in Nashville on May 7, 2022. Under a new repayment plan, millions of student loan borrowers will see their monthly repayment amounts cut in half or more. Jason Davis/Getty Images hide caption
Student loan borrowers gather near The White House in May 2020. On Thursday, the Senate voted to repeal President Biden's plan to offer up to $20,000 in federal student loan debt relief. Paul Morigi/Getty Images hide caption
Student loan borrowers gather outside the Supreme Court building in February 2023. The court's ruling on President Biden's debt relief plan is expected in June or July. Jemal Countess/Getty Images for People's Rally hide caption
From 2011, at an Occupy DC protest in Washington. A man holds a sign and a ball and chain, representing his college loan debt. (AP Photo/Jacquelyn Martin) Jacquelyn Martin/ASSOCIATED PRESS hide caption
President Biden speaks about student debt relief at Delaware State University in Dover on Friday. Anna Moneymaker/Getty Images hide caption
Student loan borrowers stage a rally in front of The White House on Aug. 25 to celebrate President Biden cancelling student debt. The plan has sparked heated debate, including about its economic fairness. Paul Morigi/Getty Images for We the 45m hide caption
From 2011, at an Occupy DC protest in Washington. A man holds a sign and a ball and chain, representing his college loan debt. (AP Photo/Jacquelyn Martin) Jacquelyn Martin/ASSOCIATED PRESS hide caption
Students attend their graduation ceremony at South Carolina State University. MANDEL NGAN/AFP via Getty Images hide caption
Students wait outside Everest College in Industry, Calif., in April, 2015, hoping to get their transcriptions and information on loan forgiveness and transferring credits to other schools. Christine Armario/AP hide caption
Snap CEO Evan Spiegel and KORA Organics CEO Miranda Kerr attend a gala in Beverly Hills, Calif., on May 4. The couple surprised graduates of a Los Angeles art school by paying off their student debt. David Livingston/Getty Images hide caption
Education Secretary Betsy DeVos appears in Phoenix in October. On Friday, the Education Department announced an extension of pandemic relief measures for federal student loan borrowers. Matt York/AP hide caption
President-elect Joe Biden delivers remarks Monday in Wilmington, Del. Salwan Georges/The Washington Post via Getty Images hide caption
Education Secretary Betsy DeVos testifies on Capitol Hill in Washington, D.C., in December. Alex Wong/Getty Images hide caption
Education Secretary Betsy DeVos faces a new lawsuit filed on Tuesday. It alleges the Dept. of Education has failed to comply with the Borrowers Defense rule, a student loan forgiveness program that would automatically cancel debt for borrowers whose schools have closed. Mark Wilson/Getty Images hide caption
Greg Deckard with his two sons, Julian (left) and Andrew. Courtesy of Gina Deckard hide caption
In 22 states, people who default on their student loans can have professional licenses suspended or revoked. The percentage of Americans who default on student loans has more than doubled since 2003. Butch Dill/AP hide caption
Students at Broward College in Fort Lauderdale, Fla., attend a debt management workshop. Broward is one of 29 colleges that no longer accepts unsubsidized student loans. The effort is part of an experiment to cut down on student loan debt and defaults. John O'Connor/WLRN hide caption
How bright is their future? Students at Barnard College's graduation ceremony last May. Timothy A. Clary/AFP/Getty Images hide caption