Protesters in favor of student loan relief gathered outside the Supreme Court on Tuesday morning, demanding that the top jurists side with President Biden as they hear two cases challenging his signature student loan debt relief policy.
Biden’s relief program looks to cancel $10,000 of student debt for low- to middle-income borrowers and $20,000 for Pell Grant recipients, but the legal challenges have put the program on hold while the Supreme Court hears the arguments for the cases that jeopardize it.
Activists who showed up ahead of oral arguments told Cheddar that Americans should not have to be burdened with so much student debt.
"I went to college as a first generation college student. My FAFSA said we had zero expected family contribution," said Kristin McGuire, executive director of the advocacy group Young Invincibles. "I borrowed $20,000 to finance my college education, and I currently owe over $55,000."
“We're almost 20 years later, and my debt has doubled. And Americans should not have to go through that,” McGuire continued.
Democratic Rep. Ayanna Pressley (Mass. District 7) also made an appearance outside the Supreme Court.
"The people demand and deserve student debt cancellation," Pressley told the crowd. "Student debt cancellation will change and save lives."
Pressley said that Republican officials are “disconnected from the hardship of everyday folks who are burdened by this debt” and “chose obstruction.”
But, Republicans have called Biden’s plan fiscally irresponsible.
“Our nation is facing a staggering $31 trillion worth of debt and we have closed in on the debt ceiling, yet the Biden administration is still attempting to cancel millions of dollars in student loans,” Senator Rick Scott of Florida has said. “The reality is, a blanket forgiveness of student loans only benefits a small percentage of the population at the expense of millions of other hard working Americans."
The Court’s decisions won’t be released until the early summer, but 26 million people have already applied for the program, with 16 million having already been approved.
Prices at the pump have escalated severely during the Russian invasion of Ukraine. Paul Christopher, head of global market strategy, Wells Fargo Investment Institute, joined Cheddar News to explain how he sees the gas prices continuing to spiral despite the International Energy Agency announcing the release of 60 million barrels of oil from the strategic reserves of 31 countries. "We think you could see oil and gas prices continue to rise. Oil prices maybe could hit $140 a barrel. That's possible. And that would add another 50-60 cents on top of the gasoline prices you already have," he said.
President Joe Biden is set to give his first State of the Union address amid both international and domestic crises: the Russia-Ukraine conflict and continued rising inflation and economic worries at home. He's expected to focus on a four-point plan to reduce everyday costs, and promote economic competition, among other key tenets. But will it be enough to persuade Americans that his administration will be able to get rising prices and foreign policy moves under control? Eugene Scott, national politics reporter at The Washington Post, joins Closing Bell to discuss Biden's expected focus, how he will aim to ease Americans' concerns, and more.
Dr. Daniel Bober, psychiatrist and certified addiction medicine physician, joins Cheddar News to offer tips on how parents and guardians can talk to their children about what's happening in Ukraine.
While crypto exchanges have been used to aid Ukraine amid the Russian invasion, critics point to possible sanction evasion on the Russian side using the same technology. Cheddar's Alex Vuocolo takes a closer look.
Airbnb.org has announced that it will provide up to 100,000 Ukrainian refugees with free housing. Airbnb.org is the philanthropic branch of Airbnb that provides free housing for those affected by disasters. Joe Gebbia, co-founder and chairman of Airbnb.org, joined Cheddar News to talk about how the company has helped thousands find shelter in times of crisis. "A lot of people are saying this conflict is likely to be the largest humanitarian crisis since World War II, and I believe Airbnb believes that companies have a responsibility to step up and to help out in times like these," he said.
The International Energy Agency’s 31 member countries have agreed to release 60 million barrels of oil from their strategic reserves “to send a strong message to oil markets” that supplies won’t fall short after the Russian invasion of Ukraine.
Every ten years, there’s a census. That decennial count is long and tedious and arduous…and important. Because it confirms who lives where so the Federal Government properly allocates resources, so services go to the places that need them most and - yes - so states gain or lose seats in congress and have the opportunity to redraw all their state and Congressional lines.
That means, every 10 years, states start what has famously been one of the most partisan and divisive processes in politics. Because one strategic line can mean the difference in party control in not just the state legislatures but also in congress.
Cheddar explains how gerrymandering works and why it exists.
The COVID-19 pandemic disrupted blood donations leading to severe shortages throughout the country. Chloe Aiello reports on the desperate need for new donors.
Russian forces escalated their attacks on populated urban areas Tuesday, bombarding the central square in Ukraine’s second-largest city and Kyiv’s main TV tower.
