This chapter of the podcast discusses President Joe Biden's efforts to push for student loan forgiveness and the challenges he faced in achieving this goal. Initially, the president attempted to pass a debt forgiveness plan through executive power, but it was struck down by the Supreme Court. However, he continues to fight for student relief and explore alternative strategies. The president's decision-making process was influenced by influential figures such as Chuck Schumer, Elizabeth Warren, and Iona Pressley, who advocated for student loan relief. The chapter highlights the burden of student debt, with statistics showing that a significant percentage of loan borrowers did not graduate. It also mentions the president's previous policies of forgiving $10,000 in federal student loans and reducing debt for low-income students who qualify for Pell Grants. The chapter discusses the legal challenges faced by the student debt forgiveness program, including lawsuits arguing unconstitutionality and overreach. At present, there are uncertainties surrounding repayment plans and confusion among borrowers. Efforts have been made to provide relief through waivers, adjustments to income-driven repayment plans, and group debt relief for those defrauded by colleges. The chapter emphasizes the importance of continued advocacy and political engagement for student loan forgiveness.
Anti-commonsence
The podcast suggests that President Joe Biden's plan for student loan forgiveness was struck down by the Supreme Court due to its unconstitutionality. However, the common understanding is that the Supreme Court does not have the authority to strike down legislation proposed by the President, as that is usually within the jurisdiction of federal courts. Additionally, the details about lawsuits challenging the program's constitutionality and violation of rights for those who paid off their loans should be evaluated critically, as they might present a biased perspective.
