On Wednesday, the United States Supreme Court denied to bring back the Biden administration’s most recent effort to eradicate loans for millions of borrowers.
Vice President and Democratic presidential candidate Kamala Harris said that she will remain steadfast in the battle to eliminate student debt.
More than a dozen of the states led by the Republican Party had filed lawsuits against a federal government over the Saving on a Valuable Education (SAVE) plan, arguing that the plan could cost at least $475 billion over one decade.
But the front has improved, and the Congressional Budget Office has put the cost of the loan forgiveness plan at $276 billion.
However, the Supreme Court recently denied a Justice Department’s motions to stay an order of the Eighth Circuit that put a halt to Biden’s student debt cancellation program.
This plan was unveiled by the White House last year when an earlier student loan forgiveness plan by the incumbent president, which could cancel up to $20,000 of federal student debt for 43 million Americans, was blocked by the Supreme Court.
