July 16, 2024

US: Supreme Court Doubts on Biden’s Student Loan Plan – Politics

US: Supreme Court Doubts on Biden’s Student Loan Plan – Politics

Several US Supreme Court justices are skeptical of US President Joe Biden’s plan to write off student loans for millions of Americans. At Tuesday’s hearing, Supreme Court Chief Justice John Roberts pointed to the program’s high costs. They are estimated at $400 billion over 30 years. If so much money is spent, the US Congress will have to decide, Roberts said.

He belongs to the court’s conservative majority. Other conservative justices have also expressed concerns that the Democratic-led U.S. government is overstepping its authority by partially writing off student loans. Biden’s plan is currently blocked by lower courts. The U.S. government has extended the moratorium on debt repayments until mid-year and went to the Supreme Court to break a judicial deadlock on the plan.

Tuesday’s hearing lasted more than three hours. A decision is expected by the end of June. Biden announced debt relief in August.

Because of the high cost of studying in the US and the high cost of living, many Americans take out loans to start their own businesses. Biden’s plan is to partially waive student loan repayments if victims’ annual salaries fall below a certain threshold.

According to the government, the plan would free 20 million college graduates from debt — whether they graduated or not. With partial debt relief, Biden wants to implement an important campaign promise.

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