Baller Alert
  • Home
    • News
    • Entertainment
    • The Baller Alert Show
    • Baller Alert Lists
    • Baller Alert Exclusives
    • Let Me Liv
    • Ballerific Music
    • That’s Baller
    • Fashion
    • Metaverse
    • Tech
    • Lifestyle
    • Sports
    • Op-Ed
    • Travel
    • Health
  • EVENTS
  • Videos
  • Shop
  • About
  • Political News
  • en español
No Result
View All Result
  • Home
    • News
    • Entertainment
    • The Baller Alert Show
    • Baller Alert Lists
    • Baller Alert Exclusives
    • Let Me Liv
    • Ballerific Music
    • That’s Baller
    • Fashion
    • Metaverse
    • Tech
    • Lifestyle
    • Sports
    • Op-Ed
    • Travel
    • Health
  • EVENTS
  • Videos
  • Shop
  • About
  • Political News
  • en español
No Result
View All Result
Baller Alert
No Result
View All Result

Supreme Court Blocks Biden’s Student Loan Forgiveness Program, Payments To Resume After Three Years

by Precious Gibson
June 30, 2023
Reading Time: 1 min read
0
Student Loan Collections to Resume for Millions in Default, Including Wage Garnishment

Student Loan Forgiveness

Share on FacebookShare on Twitter

The Biden-backed student loan forgiveness program has been shot down by the Supreme Court, a major letdown to debt-ridden current and former college grads.

The initiative would have forgiven up to $20,000 worth of school debt for millions of Americans. Unfortunately, the Supreme Court has decided that this action is not worth the effort. Experts have long predicted that the high court would strike down the relief agenda, which President Biden has long pushed for. The forgiveness program was struck down in a 6-3 vote, with the majority ruling that Biden doesn’t have the power to nullify such large amounts of debt.

The U.S. Department of Education was also on board to have the cancellations approved. It is believed that pushing borrowers to repay the loans after a three-year pause due to the pandemic will only cause them to fall further into default. Americans are estimated to owe about $1.78 trillion in student loan debt.

Critics of the loan forgiveness have slammed Biden for expecting taxpayers to cover the loans taken out for others’ personal gain. However, research has shown that student loan companies have long used predatory means to trick young, unsuspecting students into taking out the funds to cover tuition. Since nearly half of Americans do not hold a college degree, many have been unable to secure high-paying jobs to pay back the money. Nevertheless, the conservatives within the Supreme Court are not cutting any slack to these individuals incapable of paying back such large amounts.

As loan payments resume, borrowers should prepare for monthly payments. Luckily, income-driven payment plans are available in many cases, which would only require the minimum to be paid.

Share this:

  • Click to share on X (Opens in new window) X
  • Click to share on Facebook (Opens in new window) Facebook
  • Click to share on Mastodon (Opens in new window) Mastodon
  • Click to share on Reddit (Opens in new window) Reddit
  • Click to share on X (Opens in new window) X
  • Click to share on WhatsApp (Opens in new window) WhatsApp
  • Click to share on Tumblr (Opens in new window) Tumblr
  • Click to email a link to a friend (Opens in new window) Email
  • Click to share on Pinterest (Opens in new window) Pinterest

Like this:

Like Loading...

Discover more from Baller Alert

Subscribe to get the latest posts sent to your email.

Related Posts

Texas Floods
News

Texas Flood Horror: 82 Dead, Dozens of Girls Missing from Popular Summer Camp

July 7, 2025

Texas is reeling from one of the deadliest flash floods in its recent history. At least 82 people have been...

Twelve Epstein Victims File Lawsuit Accusing FBI of Cover-Up
News

Epstein Investigation Ends—And It’s Not What You Were Hoping For

July 7, 2025

A long-awaited review by the Department of Justice and FBI has officially wrapped up its investigation into the Jeffrey Epstein...

TikTok Prepping U.S.-Only App as Mystery Billionaire Squad Eyes Buyout
News

TikTok Prepping U.S.-Only App as Mystery Billionaire Squad Eyes Buyout

July 6, 2025

In a dramatic new twist to the ongoing TikTok saga, the popular app is reportedly developing a separate version of...

Tropical Storm Chantal Slams South Carolina Coast, Flood Threats Rise Across the Carolinas
News

Tropical Storm Chantal Slams South Carolina Coast, Flood Threats Rise Across the Carolinas

July 6, 2025

Tropical Storm Chantal has officially made landfall in eastern South Carolina, and she’s not letting up. The National Hurricane Center...

Next Post
Kobe Bryant Would Have Turned 46 Today & His Legacy Continues To Touch Us All

Nike to Relaunch Kobe Bryant's Line This Summer, With Promises of Exciting New Releases

Leave a ReplyCancel reply

Baller News

Subscribe To Our Newsletter

* indicates required

Follow Us

Subscribe to Blog

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

© Copyright 2024, Baller Alert Inc. All Rights Reserved

No Result
View All Result
  • Home
    • News
    • Entertainment
    • The Baller Alert Show
    • Baller Alert Lists
    • Baller Alert Exclusives
    • Let Me Liv
    • Ballerific Music
    • That’s Baller
    • Fashion
    • Metaverse
    • Tech
    • Lifestyle
    • Sports
    • Op-Ed
    • Travel
    • Health
  • EVENTS
  • Videos
  • Shop
  • About
  • Political News
  • en español
%d