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.
U.S. and Chinese officials say a trade deal between the world’s two largest economies is drawing closer. The sides have reached an initial consensus for President Donald Trump and Chinese leader Xi Jinping to aim to finalize during their high-stakes meeting Thursday in South Korea. Any agreement would be a relief to international markets. Trump's treasury secretary says discussions with China yielded preliminary agreements to stop the precursor chemicals for fentanyl from coming into the United States. Scott Bessent also says Beijing would make “substantial” purchases of soybean and other agricultural products while putting off export controls on rare earth elements needed for advanced technologies.
A new poll finds most U.S. adults are worried about health care becoming more expensive.
The White House budget office says mass firings of federal workers have started in an attempt to exert more pressure on Democratic lawmakers as the government shutdown continues.
President Donald Trump says “there seems to be no reason” to meet with Chinese leader Xi Jinping as part of an upcoming trip to South Korea after China restricted exports of rare earths needed for American industry. The Republican president suggested Friday he was looking at a “massive increase” of import taxes on Chinese products in response to Xi’s moves. Trump says one of the policies the U.S. is calculating is "a massive increase of Tariffs on Chinese products coming into the United States." A monthslong calm on Wall Street was shattered, with U.S. stocks falling on the news. The Chinese Embassy in Washington hasn't responded to an Associated Press request for comment.
Most members of the Federal Reserve’s interest-rate setting committee supported further reductions to its key interest rate this year, minutes from last month’s meeting showed.
From Wall Street trading floors to the Federal Reserve to economists sipping coffee in their home offices, the first Friday morning of the month typically brings a quiet hush around 8:30 a.m. eastern, as everyone awaits the Labor Department’s monthly jobs report.
The Supreme Court is allowing Lisa Cook to remain as a Federal Reserve governor for now.
Rep. John Moolenaar has requested an urgent briefing from the White House after Trump supported a deal giving Americans a majority stake in TikTok.
A new report finds the Department of Government Efficiency’s remaking of the federal workforce has battered the Washington job market and put more households in the metropolitan area in financial distress.
A new poll finds U.S. adults are more likely than they were a year ago to think immigrants in the country legally benefit the economy. That comes as President Donald Trump's administration imposes new restrictions targeting legal pathways into the country. The Associated Press-NORC Center for Public Affairs Research survey finds Americans are more likely than they were in March 2024 to say it’s a “major benefit” that people who come to the U.S. legally contribute to the economy and help American companies get the expertise of skilled workers. At the same time, perceptions of illegal immigration haven’t shifted meaningfully. Americans still see fewer benefits from people who come to the U.S. illegally.
