The Latest Breaking News on Student loan borrowers struggle as payments resume amidst confusion

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The president slammed Republicans for having ‘snatched away the hope’ for student loan borrowers

A sharply divided Supreme Court on Friday effectively killed President Joe Biden’s $400 billion plan to cancel or reduce federal student loan debts for millions of Americans. But he declared, “This fight is not over."

The article goes over the main reasons why the Court's decision was justified.

The Supreme Court has struck down the Biden administration’s student loan forgiveness plan. In Biden v. Nebraska, the court ruled 6-3 on June 30, 2023, that the secretary of education does not have the authority to forgive US$430 billion of student loans under the Health and Economic Recovery Omnibus Emergency…

Supreme Court ruling could mean more Illinois residents will have to tighten their budgets. More than 1.5 million people in Illinois out of an estimated 26 million people across the country with student debt applied for the federal program.

President Biden detailed three ways his administration will seek to forgive student debt or otherwise ease financial stress as loan payments resume.

The administration will try this pathway as an alternative to the HEROES Act of 2003, which pathway was shut down by today's Supreme Court decision.

At a press conference addressing the SCOTUS' decision, President Joe Biden said that Republican 'hypocrisy is stunning' as he slammed the party for not supporting student loan forgiveness. He also said that the Supreme Court 'misinterpreted the Constitution'