President Biden’s Student Loan Forgiveness program blocked by Senate

Published: Jun. 2, 2023 at 6:52 PM EDT
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HARRISONBURG, Va. (WHSV) - The Senate recently blocked President Joe Biden’s student loan forgiveness program. Both the House of Representatives and the Senate have passed bills to block the student loans forgiveness plan.

The Supreme Court is expected to have a ruling soon with a decision that will decide if the student loan forgiveness program will go into effect.

Legal analyst AC Rieman said many argue against student loan forgiveness.

“This debt is now going to be shifted to tax payers. There are also people out there who chose not the go to college and what about the borrowers and people who have already paid off their student loans.” said Rieman.

Rieman said others support forgiveness.

“There has been so much debt that has been incurred by the generation that has chosen to pursue higher education that it is needed to balance and equal out our society.” said Rieman.

An individual who made less than $125,000 could have their federal student loans forgiven up to $10,000, this would also apply to married couples who made less than $250,000. Up to $20,000 can be forgiven if you received a federal pell grant.

Rieman said some believe this could effect tuition.

“There are a lot of variables that are going to come into play with this college tuition and inflation is one of them. So while you can predict a rise due to societal and economic standards that are happening in our nation and across the world. There are some people who are thinking if this program takes effect it will make tuition higher for people who are going to school.” said Rieman.

Rieman said it is hard at this point to determine what the Supreme Court’s decision will be.

“This is kind of a hot topic and an issue that is a little grey, it will be interesting to see what the outcome is.” said Rieman