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Biden Vetoes Resolution To Block Student Loan Giveaway

President Joe Biden on Wednesday vetoed a bill aimed at blocking student loan payments, leaving the plan ultimately up to the Supreme Court.

of measurement If the bill passed the House and Democratic-dominated Senate, it would have overturned the Department of Education’s 2022 plan to waive up to $20,000 in loans for some federal loan recipients. The move to overturn Biden’s plan was pushed by the Senate, backed by West Virginia Democrat Joe Manchin, Montana’s Jon Tester, and independent Arizona Senator Kirsten Sinema. (Related: Senate vote to overturn Biden’s free student loan offer)

Biden has vetoed claimed He argued that student loan “bailouts” would offset the economic burden Americans experienced during the COVID-19 pandemic, and that there was a high “demand” for the funds. He also claimed that some lawmakers opposing his student-loan plans received business funding from the federal government during the pandemic.

“Continuing to pursue this unprecedented attempt by lawmakers to deny emergency relief to millions of their own voters, even though some of those same lawmakers have been forgiven for tens of thousands of dollars in business loans. It’s a shame for working families across the country to be “by the federal government,” Biden said.

“I remain committed to making college tuition affordable and continuing to provide this important relief to borrowers as they work to recover from a once-in-a-century pandemic,” he added.

Biden’s Department of Education plan includes a provision to give $10,000 to borrowers earning less than $125,000. Recipients of Pell grants are eligible for waivers of up to $20,000.

The Supreme Court is expected to rule on the plan in the coming weeks.

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