Biden’s Student Debt Relief Fails to Pass The House

(TargetDailyNews.com) – The U.S. House of Representatives has failed to overcome a presidential veto from President Joe Biden which undid Republican sponsored legislation that would have repealed Biden’s student debt forgiveness plan. The attempted override of Biden’s veto only secured 221 votes, meaning it was still far short of the two thirds majority needed.

This means that the policy of student debt forgiveness will now end up before the Supreme Court, which will determine the legality of forgiving around $400 billion in student debt. Government “forgiveness” of student loans actually means taxpayers will foot the bill for student loans taken out by individuals.

Biden’s policy has been facing criticisms from legal experts since he announced his intention to cancel student debt during his first presidential bid, with many claiming that such a move would be economically devastating for middle class families.

The topic of student debt has been a source of contention for many over the past few years, in part due to rising interest rates and a higher cost of tuition compared to just ten years ago. Some students have even announced their intention to ignore loan repayments when the pause on payments ends in October. The repayment pause was ended as part of the bipartisan debt ceiling deal, meaning that borrowers of student loans will be expected to begin paying their balances as soon as October first. Around 40 million Americans will have to begin paying back loans during this time, raising concerns about whether or not such a plan will have a detrimental impact on the lives of borrowers.

While many top Republicans and more moderate Democrats have openly questioned the legality of Biden’s plan on forgiving $400 million in debt, the final decision ultimately lies with the Supreme Court. Many citizens felt as though the Supreme Court would rule against the Biden administration’s plan during Biden’s initial campaign, but after Justice Clarence Thomas spoke about his own harrowing experience with loans, the future of Biden’s proposed policy seems uncertain. The Supreme Court is expected to rule on the policy of student debt forgiveness before the summer ends.

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