The US Supreme Court has inflicted a political defeat on President Joe Biden by blocking his plan to cancel $430 billion in student loans. The measure was intended to relieve 43 million Americans with student debt.
26 million U.S. debtors have asked for forgiveness since Biden announced the plan in August 2022. Only low- and middle-income Americans could apply for the program, and the maximum forgiveness was $20,000 per borrower.
Six against three
The Republican-led states of Arkansas, Iowa, Kansas, Missouri, Nebraska and South Carolina had jointly requested that the court block Biden’s plan. They received the support of the court’s six conservative justices. The three liberal judges voted against.
2020 campaign promise
With his plan, Biden had wanted to deliver on a 2020 campaign promise. At the time, the Democrat proposed forgiving a portion of $1.6 trillion in outstanding federal student loans. Republicans have criticized the plan, among other things, arguing that waiving it would give highly educated people an unfair advantage over people without a student loan. They often have other debts, but they are not forgiven.
Source: BNR
Sharon Rock is an author and journalist who writes for 24 News Globe. She has a passion for learning about different cultures and understanding the complexities of the world. With a talent for explaining complex global issues in an accessible and engaging way, Sharon has become a respected voice in the field of world news journalism.
