Join Kimberlyn Leary, senior vice president of the Urban Institute, for the next installment in Urban’s conversation series, Evidence to Action. During this virtual event, Fenaba R. Addo, associate professor at the University of Wisconsin–Madison, James Kvaal, president of The Institute for College Access and Success, and Sandy Baum, nonresident senior fellow at the Urban Institute, will join Leary to discuss how pandemic relief efforts should support vulnerable student borrowers.
Much like the impacts of the pandemic, the effects of student debt are not felt evenly. Many borrowers with the largest loan balances have relatively high incomes to show for it, whereas those with small loans tend to have lower incomes and to struggle more with repayment. And those most likely to struggle with student debt, such as Black borrowers and those who left school without a degree, are also among those mostly likely to have lost their jobs because of the pandemic.
The CARES Act suspended federal student loan payments and interest for six months, but this protection is rapidly approaching its end while the economy continues to struggle, and some borrowers could face significant hardship if Congress does not act.
With a debate over the next round of federal relief policies ongoing, our panelists will discuss how policymakers can equitably help borrowers manage their student debt burden during the pandemic and economic crisis.