The Supreme Court is holding hearings on President Biden’s Student Loan Forgiveness Program. CBS News reports:
Ambalika Williams watched the first day of the Supreme Court hearing on Biden’s student-loan relief program with a feeling of hope, but also with a measure of anxiety. Williams has almost $10,000 in student loans, and the case will determine whether her entire debt could be erased in one swoop.
The arguments the justices heard Tuesday represent the culmination of a political and constitutional clash that has left 40 million student loan borrowers in limbo, including Williams, who is the national director of Organizing at Rise, a student advocacy group. If the high court strikes down the program, she worries she will need to delay plans to buy a home.
“I would have to make pretty hard financial decisions, because I would still have this debt,” Williams, 33, of Washington, D.C., noted, adding that she had already whittled down her debt from its original $40,000 balance.
The pair of cases before the Supreme Court forced a halt in the Biden administration’s plan to provide up to $20,000 in student-debt relief per borrower. Before the program was frozen, the administration had approved 16 million applications out of the 26 million people who had applied for relief.
Without the legal challenges, many of those borrowers would have had their debts forgiven by now, said Melissa Byrne, executive director of the student debt activist group WeThe45Million.
That and much more on The Vince Coakley Radio Program.
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