The Supreme Court is hearing a case to determine whether or not Biden’s student loan forgiveness program can continue. The Supreme Court’s decision is expected in June, but it is very likely that the court will overturn Biden’s program, given the reactionary political perspectives of the Supreme Court Justices and their continuous assault on our basic rights and dignities. For students and college graduates, it feels like there must be no end to the chains of student debt weighing us down. This Supreme Court case for many feels like a matter of life and death, between having enough money to pay for both food and rent; for being able to afford both healthcare and fuel.
But Biden’s plan was never going to solve the crisis of student debt in the first place. It has always been a mediocre and inadequate crumb compared to what we need to really end student debt bondage. Biden’s plan offers up to $20,000 of debt relief to Pell Grant recipients and $10,000 to those who did not get a Pell Grant. But average student loan debt in the U.S. is over $37,000 – far more than what Biden has pledged to cancel. If every single person eligible for this debt relief received it, student loan debt would still stand at a staggering $1.3 trillion – which is not a solution to the student debt crisis!
Furthermore, there’s no guarantee that everyone will get relief. In order to have your debt canceled, it’s first necessary to apply to the Department of Education. This is a completely unneeded bureaucratic process and will add yet another hurdle to people trying to find any debt relief. Both Biden and Trump were able to pause student loan payments indefinitely. So why is it necessary now for people to file for mediocre debt relief?
Biden’s plan for student debt relief is a slap in the face for borrowers. The Supreme Court potentially striking down even this mediocre student debt relief program is another. Biden and the Supreme Court care more about the interest that the government and loan collection agencies can earn off of our debt than they do about our lives.