Supreme Court Doubts on Biden’s Student Loan Plan – Politics

The Chief Justice of the Supreme Court points to the high cost, estimated at $400 billion over 30 years. Congress should decide on this amount.

Several U.S. Supreme Court justices are skeptical of U.S. President Joe Biden’s plan to write off student loans for millions of Americans. At a hearing on Tuesday local time, Supreme Court Chief Justice John Roberts noted the high cost of the project. They will be worth $400 billion over 30 years. If so much money is spent, the US Congress will have to decide, Roberts said.

He belongs to the court’s conservative majority. Other conservative justices have also expressed concerns that the Democratic-led U.S. government is overstepping its authority by partially writing off student loans. Biden’s plan is currently blocked by lower courts. The U.S. government has extended the moratorium on debt repayments until mid-year and went to the Supreme Court to break a judicial deadlock on the plan.

Tuesday’s hearing lasted more than three hours. A decision is expected by the end of June. Biden announced debt relief in August. Because of the high cost of studying in the US and the high cost of living, many Americans take out loans to start their own businesses. Biden’s plan is to partially waive student loan repayments if victims’ annual salaries fall below a certain threshold.

According to the government, the plan would free 20 million college graduates from debt — whether they graduated or not. With partial debt relief, Biden wants to implement an important campaign promise.