Supreme Court Rejects Biden's Student Loan Forgiveness; Millions of Borrowers Brace for Repayments
- The Supreme Court has ruled that President Biden's student loan forgiveness plan is unconstitutional, leaving millions of borrowers responsible for repayments starting in October.
- Biden has vowed to find an alternative path to student debt relief and announced new protections for borrowers, including a temporary repayment program.
- The ruling deals a blow to Biden's agenda and campaign promise, raising political stakes ahead of 2024 elections.
- Economists worry resumed payments could negatively impact consumer spending and slow economic growth.
- Advocates argue court's action highlights need for meaningful higher education and student debt reform.
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