Friday, April 19, 2024

U.S. Supreme Court strikes down student loan forgiveness plan

(BBC News) The U.S Supreme Court has struck down President Joe Biden’s proposal to wipe out billions in student debt

The 6-3 ruling effectively cancels the plan, which would have forgiven about $10,000 per borrower — and up to $20,000 in some cases.

The decision affects the loans of more than 40 million U.S. residents.

It has left the U.S. public “angry,” Biden said. He pledged to put in place new measures to reduce university debt using other existing laws.

The loan-forgiveness plan has been in limbo since some conservative states sued, arguing the president overstepped his authority. The Supreme Court agreed.

The total federal student debt has more than tripled over the past 16 years, rising from about $500 billion in 2007 to $1.6 trillion today.

BIG Media
BIG Media
Our focus is on facts, accurate data, and logical interpretation. Our only agenda is the truth.

BIG Wrap

Police make arrests in ‘largest gold theft in Canadian history’

(Al Jazeera Media Network) Police in Canada have arrested multiple people accused of stealing thousands of gold bars worth more than $20 million CDN...

After stalling for months, Ukraine aid vote heads to House of Representatives

(BBC News) US President Joe Biden has said he "strongly supports" a new $61-billion aid bill for Ukraine, arguing it will "send a message...