AssetID: 52873555
Headline: UNCAPTIONED: Supreme Court Derails Biden's Plan for Student Debt Relief
Caption: Supreme Court Derails Biden's Plan for Student Debt Relief. On June 30, the Supreme Court ruled that President Joe Biden's student debt relief plan was an unlawful exercise of presidential power. NBC reports that the justices were divided on the 6-3 ruling along ideological lines. The court also rejected the administration's argument that the 2003 Higher Education Relief Opportunities for Students Act, or HEROES Act, gave the president authority. According to that law, the government could provide relief for student debt under a "national emergency". The plan would have allowed those eligible to cancel up to $20,000 in debt and would have cost over $400 billion. In October, the 8th U.S. Circuit Court of Appeals blocked the plan with a temporary hold. Approximately 43 million people in the U.S. would have been eligible to take part in the program. NBC points out that tackling student debt was a key point made by Biden while speaking on the campaign trail in 2020. According to White House officials, Biden is expected to announce new actions aimed at protecting student loan borrowers. Meanwhile, at the end of August, the student loan repayment process is set to start back up after being put on hold amid the COVID-19 pandemic. First payments will reportedly be due in October. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Supreme,Court,United States,America,President Joe Biden,student debt relief,unlawful exercise,politics,politician,law,justice,covid-19,pressure,payback,loan,repayment process
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