Staff Reports
The Biden administration’s quest to wipe out student loan debt has hit yet another stumbling block, and it looks like the Supreme Court is not rolling out the welcome mat. Joe Biden, still clinging tight to his not-so-secret promise that got him elected in 2020, has found his ambitious student loan forgiveness plan grounded by legal challenges that make wrestling an octopus look easy. The high court recently turned down a request to forge ahead with the administration’s SAVE plan, leaving the President and his running mate Kamala Harris in a state of despair that might rival a toddler losing their favorite toy.
In a twist that could only happen in a political thriller, the Biden administration’s push came to a screeching halt when the Supreme Court declined to allow the implementation of the SAVE plan. The Justice Department was riding high on hopes that a lower court’s injunction would be overruled, allowing the grand plan to bypass ongoing litigation filed by GOP-led states. But alas, the court’s unsigned order didn’t have any enthusiastic cheers for Biden’s plan, sending a clear message that patience may be a bitter pill to swallow while the legal clock runs down.
The SAVE plan, which promises a quick exit for borrowers from their debt prison and a drastic reduction in monthly payments to just 5% of discretionary income, has its critics pointing out the obvious. The proposition of not requiring payments at all for borrowers earning less than 225% of the federal poverty line is seen by many as an extravagant giveaway. Opponents argue that this is less about helping struggling students and more about scoring political points in an election year where Democrats are increasingly looking to turn out their base.
There are not one, but two legal challenges on the table that highlight just how messy this whole affair has become. Back in June and further muddied waters were created by judges in Kansas and Missouri who found significant fault with the plan. While the 10th Circuit Court of Appeals allowed some portions to proceed, chaos erupted once the 8th Circuit decided to halt the entire initiative, essentially cutting the legs out from under the Justice Department’s request for national forgiveness.
Supreme Court rejects Biden bid to restore student loan bailout https://t.co/G9MOt1UVjQ pic.twitter.com/9arsxTbSTL
— New York Post (@nypost) August 28, 2024
As reactions flooded in post-ruling, the Biden White House echoed the doom and gloom of a cartoon character caught in a rainstorm. Their spokesperson expressed determination to fight the legal battles ahead, indicating that they won’t let a little thing like the Supreme Court stand in their way. Meanwhile, on the opposing side of the aisle, legal experts are rejoicing at what they view as a sound victory for the Constitution. The stark divide underscores not only the contentious atmosphere of current legislative actions but also the lengths to which the two sides are willing to go for their respective narratives on student loans. The saga is far from over, but it remains abundantly clear that taxpayer dollars are still in the crosshairs of political maneuvers, and it’s a spectacle not to be missed.
