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Biden urges Supreme Court to allow stalled student loan forgiveness effort to take effect

President Joe Biden requests the Supreme Court to exempt impeded student loans

The President’s office in America stresses the student loan forgiveness plan to the supreme court. For a healthy public economy to function properly, student loans must be forgiven, which would clear a debt owned by over ten million Americans. 

The supreme court of America has planned to have a hearing next month on the student loan forgiveness plan. Opposition leaders from six conservative states of america lashed out at Biden’s government for unanimously drafting its own forgiveness plan. However, Biden’s government said that they would obey the law of the country, and they assured that they would not act against the court’s order. 

Biden’s government was forced to seek help from the higher court for justice as the lower federal courts of the US suspended Biden’s loan forgiveness program. The current government of Biden argues that over 26 million Americans have applied for the loan exemption program. Still, 14 million people are likely to join the program, making it 40 million in total. 

The government decides to consider student loans up to $20,000 for recipients eligible for subsidy provided by the US federal government (Pell Grant recipients) and $10,000 for other recipients. According to Biden’s administration, the loan forgiveness program will help millions of Americans to cope with the debt during the tight inflation period. 

Take away:

  • Student loan forgiveness will put an end to all of a borrower’s federal student loans taken by American students.
  • This program is an effort to relieve tens of millions of American people from their debts.
  • Student loan forgiveness program will help the public economy to function healthy during the period of inflation.