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Published: February 27, 2023

Supreme Court to Hear Lawsuits Against Biden’s Student Debt Relief Plan, Could Cost Taxpayers Billions Over Next 30 Years

By The Editor

The Biden administration’s plan to forgive certain student loans would cost $400 billion. Critics say it’s far too expensive. 

The plan doesn’t address the underlying issue of the high cost of college, It also does not consider those who already paid off their loans or didn’t take out loans at all.  

This has left some to call Biden’s plan plain old government overreach. And now, the U.S. Supreme Court gets to decide. 

The nine justices are set to hear oral arguments in two related cases on Tuesday.

Meanwhile, millions of borrowers are watching and waiting to see the fate of their loans.  

President Joe Biden is hoping the Supreme Court will help him deliver on his campaign promise of granting student loan forgiveness after legal changes put his plan on hold.  

If a majority of justices approve of the president’s plan it will likely be this summer before some of the 43 million borrowers can receive relief.

“It’s not everything but it would certainly help a lot and relieve a lot of that burden,” said student Elise Cooke.

Biden’s plan, announced last August, would grant up to $20,000 in federal debt relief to student borrowers who make less than $125,000 per year.  

“Especially if you’re low income, first generation, sometimes a debt that you will have to take on can affect you and your family for years to come,” Biden said. 

The Congressional Budget Office estimated the program will cost $400 billion over the next three decades. 

“Our student loan program is designed to give just a little more breathing room.  A little breathing room,” the president said. 

One of the lawsuits filed by six Republican-led states argues the program is an illegal abuse of power with federal spending that doesn’t have congressional consent. 

The second lawsuit revolves around two students who claim they should not have qualified for relief under the new program. 

“People knew what they were doing when they signed it and they should pay it off,” one man said. 

As both sides wait for the Supreme Court cases to play out, the White House said of the 26 million people who have applied for debt relief thus far, 16 million have already had their relief approved. 

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The remainder of this article is available in its entirety at CBN


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