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.
A bill to legalize recreational marijuana use in New Jersey passed a panel vote, and now heads to a full vote and governor's desk. State Sen. Gerald Cardinale of New Jersey, explains why he's against it when it comes to traffic accidents and youth usage in this week's episode of Cannabiz.
Since a Supreme Court ruling in May, seven states have legalized sports betting ー and Adam Small, the CEO of gambling magazine USBets thinks Ohio, Virginia, Kentucky, and Louisiana may be next.
Richard Allan, Facebook's vice president of public policy for Europe, the Middle East and Africa, answered inquiries from representatives of nine countries, sitting next to an empty chair left open for Zuckerberg. Early on, Allan, who is a former member of the British Parliament, admitted that the chief executive's absence was "not great."
These are the headlines you Need 2 Know for Tuesday, Nov. 27, 2018.
British Prime Minister Theresa May finally garnered European Union support for her Brexit plan, but unrest at home threatens to dismantle negotiations ー and lawmakers have warned there is no plan B. "The worst case scenario for many, particularly for anyone who is a 'Remainer,' is that we leave the EU without a deal in place at all," Ayesha Javed, Deputy Editor of The Wall Street Journal's WSJ City, told Cheddar on Monday.
Former wide receiver Walter Powell Jr. played for three NFL teams over a span of four years. But now, a year into his retirement, he's decided to tackle a new challenge ー creating a more informed electorate. The athlete created a new an app, Politiscope, to educate political newcomers like Powell with a tool that "broke down politics so people like me could understand it," he told Cheddar Monday.
Just days after releasing a chilling report on climate change, the Trump administration is trying to bury its own findings. The White House released a statement trying to diminish the severity of the report's findings, saying the report is based on the most extreme possible scenario. Andrew Light, Distinguished Senior Fellow at the World Resources Institute and one of the report's co-authors, and Matt Daily, Reporter at Politico, join Cheddar to discuss the details surrounding the report.
Ohio officials will allow businesses to pay taxes in Bitcoin as of this week. While limited in scope, the move represents an important tacit admission by a government body that Bitcoin is an acceptable currency, according to Jimmy Song, a Bitcoin developer.
These are the headlines you Need 2 Know for Monday, Nov. 26, 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.
