The uncertain future of Biden’s student loan repayment plan, explained
Washington PostJUN 2024
Biden's Student Loan Repayment Plan Blocked
Image copyright: Antonio Masiello/Stringer/Getty Images News via Getty Images
The Spin
Republican narrative
It looks like Biden's plan to cynically reimburse young voters prior to the election and bill their billions in student loans to taxpayers is backfiring. Luckily, the courts have been able to step in and reiterate that only Congress has the power to forgive student debt. The only unfortunate part is that the courts have opted not to claw back the hundreds of billions in debts that have already been shifted onto the backs of taxpayers.
Democratic narrative
Student loan debt is ruining the lives of millions of Americans, yet Republican lawmakers, and the special interests they're beholden to, have opted to block their constituents' path to relief. While continuing to defend the SAVE plan in the courts, the Biden administration will also seek out other means to unburden young Americans. This is only fair given the predatory nature of these loans and the impact on American citizens and the economy.