SCOTUS hears arguments in student loan debt forgiveness case
The financial futures of up to 43 million eligible student loan borrowers are in the state of uncertainty tonight as the Supreme Court prepares to hear two challenges to President Biden's controversial campaign promise federal student loan forgiveness. It's not everything but it would certainly help a lot and relieve a lot of that burden. People knew what they were doing when they signed it and they should pay it off. About one in six adults in the U.S. holds federal student loan debt, $1.6 trillion and rising, the White House says, but their plan would grant up to $20,000 in federal debt relief to student borrowers who make less than $125,000 a year.
The latest Quinnipiac poll shows 53% of Americans approve of the plan, while 43% are against it. Like Masters graduate Lissa Petanotti, the mother of three wants the courts to permanently end Biden's plan. She says she borrowed $80,000 and paid it off within seven years and others should do the same. Anybody help you pay them off? Nope, I paid them because that's how I was raised. I mean, I was raised that you get an education and you get a job. The first challenge to Biden's plan is led by a group of Republican-led states that won their case in the lower courts. They call the program an illegal abuse of power and a $430 billion giveaway without Congress's consent.
The second challenge involves two borrowers who say they were unfairly denied relief under the program, but now it's in the Supreme Court's hands. Especially if you're low income first generation, sometimes the debt that you will have to take on can affect you and your family for years to come. The White House says of the 26 million people who've applied for the program, the government reviewed and authorized 16 million for relief. But no loan forgiveness was granted before the courts paused the program. The High Court will begin hearing the challenges on Tuesday. Ike Jachi, ABC News, Washington.
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