Biden vetoes bill to cancel student debt relief program | What to know

On new Tonight, a presidential veto is going to impact your student loan payments. Just four hours ago, President Joe Biden gave the fil blow against a congressional measure to overturn his student debt relief plan. Now, the loan forgiveness plan is one of the president's main campaign pledges. It proposes the erasing of up to $20,000 in student loan balances per borrower. Now the future of your payments is left up to the Supreme Court. The justices heard the case of Biden versus. Nebraska as several states have asked the High Court to block the pla, they say the president exceeded his legal authority. There are still 4 weeks left foe justices to announce their deci. Student loan payments were set o resume once again within 60 days of the courts ruling. So far, 16 million borrowers are approved to have some or all of their outstanding balances wipe. The pause began under President Donald Trump during the pandemi. The Department of Education says the pause cost the country. $5 billion per month.

Channel: 11Alive

Views: 51,586

Keywords: [ politics, education, money, national-politics, news ]

Id: KgDEX0BwN3I

Length: 1min 3sec (63 seconds)

Published: Thu Jun 08 2023