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.
These are the headlines you Need 2 Know for Monday, Dec. 10, 2018.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Times Square is known as the "crossroads of the world," but tell that to Stacey Cunningham. The CEO of the New York Stock Exchange, the first woman to hold the job in the exchange's 226-year history, said it's at the NYSE where capitalism, economics, politics and "the world at large" converge.
These are the headlines you Need 2 Know for Friday, Dec. 6, 2018.
Los Angeles is taking a strong stance against single-use plastic straws: the local City Council is moving forward with its "Plastic Straws on Request" initiative with an ultimate goal to phase them out completely by 2021. "This has been a long time coming," Mitch O'Farrell, Los Angeles city council member, told Cheddar Thursday. "I wish that the city had acted 10, 15 years ago."
These are the headlines you Need 2 Know for Thursday, Dec. 6, 2018.
Medical marijuana is now legal in Utah, but not exactly in the form voters intended. Shortly after the medical marijuana initiative, Proposition 2, was scheduled to go into effect, the Utah state House and Senate swooped in and replaced it with a new law. Wayne Niederhauser, a Republican senator for Utah's 9th district, defended the move in an interview on Cheddar Wednesday.
Financial markets closed, mail delivery stopped, and federal offices shut down as the nation paused to remember the life of President George H.W. Bush, who will be memorialized during a state funeral at Washington's National Cathedral on Wednesday.
These are the headlines you Need 2 Know for Wednesday, Dec. 5, 2018.
The famously stoic president of France may have conceded on fuel taxes to protestors, but his decision was most likely a product of circumstance, not an act of altruism. In this case, said Erin Zaleski of the Daily Beast, Emmanuel Macron had no one with whom he could negotiate. But small concessions, like a fuel tax moratorium, won't be enough to satisfy protesters who are wreaking havoc in the streets of Paris.
Load More