Chicago student borrowers on the hook — again — after high court rejects Biden’s loan forgiveness program

Luis Perez, 28, an athletic trainer who went to College of DuPage and Northern Illinois University, said he was “frustrated at the fact that they promised something and now it’s not going to happen” when he learned Friday that the Supreme Court rejected President Biden’s plan to forgive student loans. (Pat Nabong/Sun-Times)

Luis Perez is once again facing an avalanche of about $40,000 in student loans after the Supreme Court rejected a program by President Joe Biden’s administration that would have reduced his debt by about $10,000.

Perez, 28, of Hermosa, owes $31,000 in federal student loans and $9,000 more in private loans. In addition, his wife owes $11,000 in federal student loans. The couple believes some of their debt would have been reduced as part of the student loan forgiveness program.