UMD student discusses the possibility of loan forgiveness
The Supreme Court is deciding on whether or not the President has the constitutional powers of student loan debt forgiveness. President Biden’s campaign promise of forgiving student debt includes $10,000 for individuals making less than $125,000 annually. However, for individuals who applied with the Pell grant, would have $20,000 of debt forgiven.
Clancy Heath, a freshman at UMD says he knows how loan forgiveness would help college students. However, he understand the other side of the issue. “I kind of get the other perspective of people who don’t have a lot of student loans,” Heath said. “I mean, they kind of have to pay more taxes in order to help out other people pay off their debt.” Heath said.
The Supreme Court is reviewing two separate lawsuits filed by two student loan borrowers and six republican led states. These states argued the president’s plan is an illegal abuse of power and is unfair to some borrowers. “So I kind of see the unfairness of that.” Heath says about college students. “We’re kind of like, just getting money to pay for school. Why not take it?”
However, more than half of American support the president’s plan for student loan debt forgiveness. If the high court decided the President does not have these emergency powers it could potentially limit other presidential powers in the future. The Supreme Court is expected to release their decision by June of 2023.
For more information on student debt you can look here https://studentaid.gov/manage-loans/forgiveness-cancellation/debt-relief-info.
For another story about student debt you can read more here https://www.wdio.com/front-page/world-national/supreme-court-student-loan-case-the-arguments-explained-2/.