2023-06-30 18:56:57
The US Supreme Court put the brakes on the Joe Biden administration’s student loan relief plan on the 30th.
Chief Justice John Roberts stated on this day that the so-called’Heroes Act’, which the Biden administration used as the basis for the student loan relief plan, does not give the Secretary of Education the authority to establish a new $430 billion student loan program. .
He pointed out that the administration must seek congressional approval before implementing a program that would cost a fortune.
As a result, those subject to the policy will have to resume repayment of their loans from October.
Meanwhile, President Biden issued a statement that day and said that although the Supreme Court’s decision was very disappointing, “the fight is not over.”
President Biden emphasized that nearly 90% of student loan debt is going to go to borrowers with an annual income of $75,000 or less, and announced that he would announce a specific response this followingnoon.
Earlier, in August of last year, President Biden and Minister of Education Miguel Cardona promised to forgive $10,000 in student loans only for those with an individual annual income of less than $125,000 and a combined couple of less than $250,000.
Additionally, Pell Grant recipients can have their student loans forgiven up to $20,000.
VOA News
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