Last Wednesday, the bill that would revoke US President Joe Biden’s plan for student debt relief will proceed to the Senate as most Republicans voted in agreement. The bill that would block the plan to waive around $20,000 worth of student loans was passed with 218-203 votes. There were also at least two democrats who sided with the Republicans in favor of the bill.
Americans who would benefit from the plan are students who have less than $125,000 as their individual income. The decision of the Supreme Court regarding the repeal is to be expected before June ends.
Republicans Determined to Stop the Mass Student Debt Relief Plan
Republicans are set on keeping the mass student debt relief plan from happening. Aside from the debt-relief block, the bill would entail resumption of student loan payment collection. The collection will include settlements for student loans that were temporarily postponed due to the global pandemic.
Once the Supreme Court passes judgment on the legislation, student loan payments will resume two months after June 30.
In favor of the repeal, Chairwoman of the House Committee on Education and the Workforce Rep. Virginia Foxx, R-N.C. believed that this would affect working citizens the most, as this would advance inflation.
Last month, the Republican party also voted against Biden’s plan of increasing the debt ceiling.