Biden Vetoes Bill to Block Student Loan Forgiveness Plan, Supreme Court Challenge Looms

President Joe Biden vetoed legislation on Wednesday that would have blocked his plan to forgive student debt. The bill, sponsored by Republican Sen. Bill Cassidy, was passed by Congress and would have canceled Biden’s plan to forgive up to $20,000 in federal student loan debt for borrowers making less than a certain amount.

Lawmakers who voted for the bill argued that Biden’s plan was too expensive and unfairly benefited college graduates at the expense of taxpayers who didn’t go to college. Biden, however, said in a statement that it was a “shame for working families across the country” that lawmakers were attempting to deny relief to millions of their own constituents, even as some of them had tens of thousands of dollars of their own business loans forgiven by the Federal Government.

Biden’s veto is the fifth of his presidency, but his plan to forgive student debt is still not secure. The U.S. Supreme Court, which is dominated by a conservative majority, is currently reviewing a legal challenge that could eliminate the program.

The issue of student loan debt has been a major issue for many Americans, with the total amount of student loan debt in the United States now surpassing $1.7 trillion. Biden’s plan to forgive student debt is seen as a way to provide relief to those struggling with student loan debt, but it is unclear if the plan will be able to survive the legal challenge.