On March 2nd, 2023, President Joe Biden expressed his lack of confidence in the Supreme Court’s potential decision to uphold the proposed $20,000 student loan cancellation plan. The President’s statement came as a response to a question during a press briefing, where he acknowledged the ongoing debate surrounding student loan forgiveness.
President Biden’s proposed plan to cancel $20,000 in student loan debt for each borrower has been a topic of intense discussion and debate, with advocates for and against the plan voicing their opinions. However, the ultimate decision on whether the proposal will come to fruition is ultimately in the hands of the Supreme Court.
Despite his initial proposal, President Biden expressed concern about the likelihood of the Supreme Court’s decision to uphold the plan. He acknowledged the conservative leanings of some of the current justices and how it could impact their decision-making. However, the President remains committed to exploring all possible avenues to provide relief to those burdened by student loan debt.
The student loan debt crisis has been a growing concern for many Americans, with outstanding student loan debt surpassing $1.7 trillion. The burden of this debt has been known to hinder young adults from purchasing homes, starting businesses, or saving for their futures. The President’s proposed plan aims to provide some relief to those struggling with this financial burden, and the possibility of the Supreme Court not upholding it is a blow to these individuals.