It created a crisis in the country! Thousands of people have their student loan debts erased

In a written statement from the White House, it was noted that Joe Biden approved the cancellation of $9 billion in student loans for 125,000 Americans within the framework of the student loan amnesty policy.

Thus, the Biden administration has forgiven a total of $127 billion in credit debts for approximately 3.6 million Americans to date.

In the United States, where a college education is expensive, many people take out student loans to attend college. Students who study with loans have a serious financial burden to pay off the loans after graduating.

THE SUPREME COURT REVOKED BIDEN’S AMNESTY

US President Biden announced on August 24, 2022 that they were postponing student loan payments for the last time until December 31 and that they would amnesty up to $20,000 in debt for people with an annual income of less than $125,000.

However, Biden’s student loan amnesty program was blocked by the Federal District Court of Texas on November 11, 2022.

Texas Federal District Judge Mark Pittman ruled that Biden’s amnesty for those with student loan debt, which amounts to $20,000 per person, was an “unconstitutional use of Congress’ legislative power.”

The Biden administration argued that it had that right under the Higher Education Amnesty Act passed by Congress in 2003, and the case was taken to the Supreme Court by red states.

In June, the Supreme Court overturned the decision by a 6-3 vote, ruling that the amnesty Biden issued last year to erase or reduce $430 billion in student debt was unconstitutional.

Reacting to the decision, Biden said the amnesty plan could save the lives of millions of Americans affected by the Covid-19 epidemic and that he believed the court’s decision was “wrong.” (AA)