Congressional Democrats are urging President Joe Biden to formulate alternative plans for canceling federal student loans, signaling a growing belief that the Supreme Court will strike down the administration's plan to forgive some $400 billion in loans.
Last year, the president enacted a plan to forgive $10,000 in student loans for all borrowers making less than $125,000 and $20,000 if the borrower received a Pell Grant.Since its announcement, the policy has been tied up in legal challenges, ultimately finding its way to the U.S. Supreme Court.
Rep. Ro Khanna told the Washington Examiner in a statement that if student loan payments, which have been paused since March 2020, resume"without relief," the effect would be"devastating for millions of Americans who have been promised help from the administration. The court's ruling in the case is expected before the end of June, and Khanna is one of several Democratic lawmakers who have urged the White House to find a backup plan. The Washington Post reported that Reps. Ayanna Pressley and Alexandra Ocasio-Cortez have also called on the president to find another path to cancel the debt or extend the pause on student loan payments.
The Biden administration agreed to restart payments as part of a negotiated deal with House Republicans to increase the debt ceiling and cut spending. Payments are set to resume before the end of August.
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