Following news that the U.S. Supreme Court will hear full oral arguments in February on President Biden’s student debt forgiveness plan, government watchdog Accountable.US called any potential ruling to strike or water down the plan a win for the greedy student loan service industry and conservative groups funding the legal action.
The Biden program to allow eligible borrowers to cancel up to $20,000 in debt was temporarily blocked by the right-leaning U.S. Court of Appeals for the Eighth Circuit, in St. Louis, at the request of six Republican-led states and has also faced numerous other challenges in conservative-leaning lower courts. This could impact the 16 million borrowers whose applications have already been processed and approved.
This string of rulings are an early Christmas present to the greedy student loan servicer industry and conservative activists that stand in the way of economic relief and security for millions of Americans. The political lawsuits attacking the administration’s relief policies are based on nothing more than industry greed and blind partisan obstruction against President Biden’s policies that prioritize average Americans. The right-tilted Supreme Court now holds in the balance relief for millions of hardworking Americans who are simply trying to get ahead. It would be a giant loss for the economy if Justices rule in favor of the special interests.”