Photo Courtesy of CBS News
On February 28, 2023, the Supreme Court heard arguments on the issue of student loan forgiveness. The case centers around the question of whether the government can forgive student loans through executive action, or if it must be done through legislation passed by Congress.
This issue has been a contentious one, with many arguing that the burden of student debt is too high and that forgiveness is necessary to alleviate the financial strain on millions of Americans.
According to CNN, the case was brought to the Supreme Court after the Biden administration attempted to forgive $10,000 of student debt per borrower through executive action and up to $20,000 total for borrowers who received a Pell grant while enrolled in college. Biden announced the plan last August. However, a group of states challenged this action, arguing that it was unconstitutional for the government to forgive student loans without congressional approval.
The Supreme Court was met with a rally outside of the courthouse. Supporters of student loan forgiveness gathered to show their support for the cause, holding signs and chanting slogans. Many argued that the burden of student debt is disproportionately borne by marginalized communities and that forgiveness is a matter of racial and economic justice.
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The Hill reported on some of the key takeaways from the arguments, including the question of whether forgiving student debt would unfairly benefit those who went to college, as opposed to those who did not. The justices also considered the potential economic impact of student loan forgiveness and whether it would be an effective way to stimulate the economy.
At the heart of the matter is the fact that this debt has reached unprecedented levels in the United States. As reported by NPR, the average student loan debt for college graduates in the United States is now over $30,000.
While the outcome of the case remains uncertain, the Supreme Court’s decision on this case could have significant implications for millions of Americans struggling with student loan debt.