Biden's student loan forgiveness program was rejected by the Supreme Court. Here's what borrowers need to know

Contributing sentiments towards policy:

54% : The president is expected to announce new actions to protect student loan borrowers later Friday.
47% : Most student loan borrowers have not been required to make payments on their federal student loans since March 2020, when Congress passed a sweeping aid program to help people struggling financially because of the Covid-19 pandemic.
46% : An independent analysis from the Penn Wharton Budget Model found that about two-thirds of the student debt cancellation would have gone to households making $88,000 a year or less.
43% : Student loan payments will restart soonRegardless of the way the Supreme Court ruled on the one-time forgiveness program, the Biden administration had said that student loan payments will be due starting in October.
41% : The forgiveness program, estimated to cost $400 billion, would have fulfilled a campaign promise of Biden's to cancel some student loan debt.
39% : But a group of Republican-led states and other conservative groups took the administration to court over the program, claiming that the executive branch does not have the power to so broadly cancel student debt in the proposed manner.
34% : Washington (CNN)The Supreme Court struck down President Joe Biden's student loan forgiveness program Friday, blocking millions of borrowers from receiving up to $20,000 in federal student debt relief, just months before student loan payments are set to restart after a yearslong pause.

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