President Biden vetoes congressional effort to block student loan forgiveness
SPRINGFIELD, MA (WGGB/WSHM) - Now that President Joe Biden vetoed a congressional measure to block his student loan forgiveness program, we wondered things now stand as the pandemic loan payment moratorium is about to end.
The congressional efforts led by Republicans to block President Biden’s $400 billion student loan forgiveness plan also had Democratic support. In a video shared by the president after Wednesday night’s veto, he questioned why some members of Congress are against forgiving student debt in the first place.
“Some of the same members of Congress who want to cut student aid personally received loans to keep their small businesses afloat during the pandemic…but when it comes to hard working Americans trying to get ahead dealing with the student debt relief, that’s where they drew the line,” the president explained.
John Rogers, a professor of economics at American International College, told Western Mass News that this isn’t a one-dimensional issue and that there are multiple layers to consider before making a yes or no vote.
“It’s a complex issue because it has this sort of legal-constitutional element to it. Who was the authority to make these decisions? but it’s also a philosophical or moral issue,” Rogers said.
The student loan forgiveness program was introduced last year and could impact up to 40 million Americans. People earning less than $125,000 could get $10,000 of their debt cancelled through the program, while students receiving federal Pell grants could get $20,000 cancelled. It’s a relief that AIC student Paola Marrero said could have a generational impact.
“I feel like it would be very helpful for myself and other generations coming forth, so I feel like, if anything, it should be something that should be considered and looked into. A brighter future for us,” Marrero said.
Rogers also told Western Mass News what we can expect next.
“The president can veto it and it will require 60 senators to override the veto, which they won’t be able to get, so at this point, it’s really now up to the Supreme Court to decide where the whole project goes in the future,” Rogers explained.
With the pause put in place during the pandemic about to officially end, student loan borrowers are expected to start making payments on their debt by late summer. When exactly? That will be decided once the supreme court makes a ruling over the student debt forgiveness plan. That could happen before june 30th in which case the repayments will resume 60 days after that ruling. Reporting live in studio, daniel santiago, western mass news.
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