WASHINGTON, D.C. – The Supreme Court heard arguments challenging President Biden’s student loan forgiveness plan. If granted, more than 400-billion in student loan debt would be wiped out.
While the Supreme Court listened to the arguments over the legality of President Biden’s student loan forgiveness plan which would cancel up to ten-thousand to 20-thousand dollars of student loan debt, people who are in favor of canceling the debt crowded outside the Supreme Court.
“I know there are other people out there that are struggling with student debt and it’s impacting how they live everyday,” said university student Tatjana Sowell.
Sowell is finishing up her last year in college. She worries she too will be faced with student loan debt. On average, the federal student loan debt is 37-thousand dollars according to online sources. Under the President’s proposal, which is being challenged by several republican-led states, would allow tens of millions of borrowers eligible for relief.
“So I think this decision can impact a lot of people, even people who are about to go to college or are looking into college,” said Sowell.
While we didn’t hear or see any people at the Supreme Court opposing the plan, concerns about canceling nearly 400-billion in student loans have been raised. Some worry it will have a negative impact on the economy. Others said it’s abuse of presidential authority. For people here, they don’t just want ten or 20 thousand dollars canceled. They want all student debt canceled.
“The first is that it is immoral,” said Carmel Pryor, who is in favor of canceling student debt. “The second: we’ve been able to pause student loan payments for the past three years and guess what? The sky hasn’t fallen. So we can do this. And the third thing is: why can corporations be bailed out if they are in debt? We can do the same thing for us.”
We’ll have to wait until summer to find out how the Court will decide on this.