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What’s next for student debt cancellation? What options exist for New Yorkers if Biden’s plan fails

  • / Updated:
  • Staff Report 

As the fate of President Joe Biden’s student debt cancellation plan remains uncertain, Americans are increasingly looking towards state forgiveness plans as a potential solution. With 47 states and Washington D.C. offering their own state-based student loan forgiveness initiatives, borrowers have numerous options to explore.


These programs often target specific industries or professions, such as doctors, teachers, police officers, and farmers, among others. In many cases, participants must commit to working in designated areas or positions for a certain length of time to qualify for forgiveness.

If the Supreme Court rejects Biden’s proposal to cancel up to $20,000 of student debt for eligible borrowers, these state-based programs may become an essential fallback option. Student loan payments are set to resume this summer, either 60 days after the Supreme Court decision or after June 30.


Various states offer different types of forgiveness programs. Maryland, for example, has three programs, including SmartBuy 3.0, the Janet L. Hoffman Loan Assistance Repayment Program, and the Maryland Dent-Care Loan Assistance Repayment Program. New York has seven programs, six of which cater to specific professions, while Kansas offers three programs designed to support its healthcare industry and rural areas.

Despite the potential benefits, borrowers should carefully consider whether participating in these programs aligns with their long-term career goals and personal preferences. Moving costs, earning potential, and lifestyle factors should also be taken into account before making a decision.