Jun 08, 2023

🎥 Supreme Court will have final say on student debt loan relief plan

Posted Jun 08, 2023 1:00 PM

WASHINGTON (AP) — President Joe Biden on Wednesday vetoed legislation that would have canceled his plan to forgive student debt.

The measure had been pushed by Republicans, but it garnered a handful of Democratic votes in the Senate as well. Kansas Senators voted to end Biden's plan.

Despite the veto, Biden’s plan still isn’t secure. The Supreme Court will have the final say on the issue. A decision from the court is expected this summer.

“It is a shame for working families across the country that lawmakers continue to pursue this unprecedented attempt to deny critical relief to millions of their own constituents,” Biden said in a statement when announcing his veto.

If enacted, Biden’s plan would forgive up to $20,000 in federal student loan debt for borrowers making less than $125,000 per year.

Student loan payments were paused at the beginning of the COVID-19 pandemic. However, they will resume in August for anyone whose debt is not wiped out by Biden’s plan.