Dear Alray Community,
Last week, the US Supreme Court made two concerning decisions that will make it more difficult for students of color and low-income students to earn a college degree. The court overturned a 45-year-old decision allowing for the consideration of race in college admissions to further campus diversity. Then, it struck down President Biden’s student debt forgiveness plan that would have relieved qualifying students of up to $20,000 in federal student loans. In a single week, the court showed that we are still very far from being the supposed “land of opportunity.”
As a result of these decisions, students of color may be even less likely to get into well-resourced colleges, where they could benefit from generous financial aid packages funded by large endowments and fully-staffed and networked career services offices. This comes after nearly a year of hope that perhaps, with the forgiveness of a significant portion of their student loans, they could potentially go back to college, pursue a graduate degree, buy a house, save for retirement, and work toward building futures for themselves and their families.
The path to a college degree has never been easy, especially for students not born into privilege. But today, as we have for the past 15 years, at Alray Scholars we are prepared to do what we can to help as many students as possible cross that finish line and earn their degrees, with the knowledge that this work now takes on even greater urgency. More specifically, we will continue to supplement insufficient financial aid packages with our scholarship fund, provide a suite of career exploration and advising services to match those of resource-rich colleges, and provide individualized mentoring, resources, and advocacy.
To our partners and supporters, we thank you for your role in allowing us to do this important work. We look forward to your continued support in the months and years ahead, as we support students earning their college degrees and position them to attain rewarding careers, despite the obstacles – new or old – that may be placed in their way.
And to our scholars and graduates, know that we are – and always will be – here for you. In anticipation of the resumption of student debt payments this fall, we are gathering resources regarding other student debt forgiveness plans and repayment options. We have also secured the services of a financial coach to support interested scholars and graduates in developing short- and long-term financial plans to reach their goals. Finally, we are developing an initiative to support a limited number of Alray alumni leaders with student debt. Stay tuned!
Last week’s Supreme Court decisions were disappointing but are not insurmountable. We remain committed to each and every one of our scholars, and will continue to work alongside our partners to achieve our shared goal of making college affordable and accessible to everyone.
In solidarity,
Debbie Nguyen, Executive Director
Student debt resources
Plan your repayment strategy
Explore income-driven repayment plans to potentially lower your monthly payments via the loan simulator
Explore other debt forgiveness programs
Borrower Defense Loan Discharge (check out if you have federal loans from attending a for-profit institution like ITT Tech or DeVry or a college that closed)
Public Service Loan Forgiveness Program (check out if you work for a government entity or nonprofit)
Teacher Loan Forgiveness Program (check out if you work for a public school district)
Get individualized support
Schedule time to connect with me to discuss financial planning and debt management resources from Alray and other community organizations