U.S. Supreme Court declines to revive Biden’s student debt relief plan

The U.S. Supreme Court declined to revive President Joe Biden’s student debt relief plan, siding with Republican-led states that sued to block it. This decision prevents the administration from implementing the SAVE plan, designed to reduce monthly payments and speed up loan forgiveness for borrowers. The Biden administration estimated the plan would cost $156 billion over 10 years, while Republican states argued it could cost $475 billion. A lower court had already blocked the plan, and the Supreme Court’s decision is a significant setback for Biden’s student debt relief efforts. Another challenge to the plan is pending in the Tenth Circuit Court of Appeals.

Source- CGTN