Supreme Court weighs Biden student loan plan worth billions

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Millions of Americans’ student loan debts, which President Joe Biden intends to eliminate or decrease, are the subject of a partisan legal dispute currently being examined by the Supreme Court, the Associated Press reported.

On Tuesday, the Supreme Court, which currently has a conservative majority of 6-3, is hearing two legal challenges to the student loan plan. Republican-appointed judges on lower courts have previously blocked the plan.

According to the Biden administration, 26 million individuals have submitted applications for federal student loan forgiveness, and 16 million have been granted approval for up to $20,000 in loan forgiveness. The estimated cost of the program over a period of 30 years is $400 billion.

“I’m confident the legal authority to carry that plan is there,” Biden said Monday, at an event to mark Black History Month, as reported by the AP.

The student loan plan is facing opposition from Republican-led states, Congress members, and conservative legal groups who view it as a direct breach of Biden’s executive power.

On the other hand, Democratic-led states and liberal organizations support the Biden administration’s proposal and are advocating for the plan to be implemented by the court.

Written by staff