In a 6-3 decision, the court’s conservative majority rejected President Biden’s plan to cancel more than $400 billion in student loan debt for millions of borrowers. It would have been one of the most expensive executive actions in U.S. history.
IIRC the special thing about student loans in the US is that you cannot default out of them. So even if I go through bankruptcy, I will still owe this specific debt.
The obvious fix would be to deny student loans this special treatment.
Wasn’t Biden a sponsor of the bill that made that change? It used to be that you could default out of student loan debt, there was a bill passed about twenty years ago that altered that.
Wasn’t Biden a sponsor of the bill that made that change? It used to be that you could default out of student loan debt, there was a bill passed about twenty years ago that altered that.