Supreme Court Weighs Biden’s Plan to Cancel $400 Billion in Student Debt

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The Supreme Court weighs if Biden’s plan of canceling $400 billion in student debt should be allowed.

Cancel Student Debt
Supreme Court weighs if it will allow Biden’s plan of canceling $400 billion in student debt. (Photo: Northeastern Global News)

Biden Administration Plans to Cancel Student Debt

President Joe Biden’s plan of canceling billions in student loans will aid and provide relief to many individuals with loans and help resolve the past years’ economic damage.

CNBC reported that the relief program was initially implemented under the emergency declaration to cater to the needs of people affected by the pandemic and other health crises that hit the nation.

However, Biden’s plan to continue the student loan forgiveness plan garnered different opinions. Some experts claimed that the president and his administration only used the pandemic and other emergencies as excuses to implement his proposal.

READ ALSO: Parent PLUS Loan Borrowers Excluded From Latest Repayment Plan Overhaul

Experts Predict the Supreme Court’s Decision

Following the current discourse about Biden’s plan, some experts revealed their predictions of the Supreme Court’s decision regarding the cancellation of student debt.

A professor from the University of Illinois Chicago and other professors predicted that the Supreme Court would rule against Biden’s plan with 6-3 votes despite its benefits.

Suppose the Supreme Court does not allow Biden’s plan for the relief program. In that case, millions of individuals will be disappointed and continue to face student loan payments without any relief.

READ: ALSO: Tick Tock: Biden Faces Decision On Student Loan Payments As Summer Deadline Approaches

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