Sen. Elizabeth Warren lays out the stakes of President Biden’s student loan plan. (via The ReidOut Blog)
, conservatives on the Supreme Court don’t appear willing to accept the Biden administration’s justification for student loan forgiveness, based on Tuesday’s arguments.
The groups sent letters to Warren’s office outlining how people they represent would be affected if student debt forgiveness were to be overturned. The report found that Biden has “the clear legal authority” to carry out his plan, and I’ve listed some of the other important findings below. UNIDOS, an advocacy group for Latinos, said: “Twelve years after starting college, 36% of Latino borrowers owed more than they originally borrowed.”
The National Consumer Law Center told Warren that student debt has been catastrophic for many older borrowers, saying that they “rely entirely on their Social Security payments for income, and, for the majority, the seizure from their Social Security payments either pushed them below the poverty level or further reduced payments that were already below the poverty level.”
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