In August 2022, U.S. President Biden pledged to transfer up to $20,000 in student loans per borrower. The $400 billion Student Debt Relief Plan was defended by the White House ahead of a U.S. Supreme Court ruling that could abolish the program.In August 2022, U.S. President Joe Biden pledged to transfer up to $20,000 in student loans per student borrower under the Student Debt Relief Plan. Unfortunately, after the midterm elections, the program was left at a standstill in the courts and could be abolished by the end of June.
According to Willis, on June 27, several reporters raised concerns about whether the Biden administration had a plan B for the program. However, the White House defended the $400 billion Student Debt Relief Plan ahead of a ruling from the U.S. Supreme Court that could get the program abolished.
Supreme Court Ruling on the Student Debt Relief Plan
An article in the Washington Post states that the U.S. Supreme Court heard legal arguments on the Student Debt Relief Plan last February. Reportedly, several members expressed skepticism of the program, estimating that it will spend up to $1 trillion. The Supreme Court has been releasing rulings throughout the month of June but saves the ruling for the program at the end of the month.