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.
somehow every kind of bank, business, and rich person can get tax breaks, and bail outs yet average middle class people can't get some help on their student loans.
The SCOTUS is illegitimate at this point. Prepare for years of terrible decisions. Or, do what I'm doing. Expatriate. This shit's beyond saving during this lifetime.
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.
I could imagine that this would also have a positive effect on the cost of tuition in the US, as the collection of these stupidly high debts would be far from guaranteed.
Disappointed, but it makes sense that decisions with such huge implications should be clearly made by the legislative branch, not just at the whim of some executive department.
Had a feeling this would happen unfortunately. I have a lot of student loans for my graduate degree and even if they would put the interest rate at something reasonable that would be so much better than the rates that are currently set
this is the kind of US-centric topic I don't want to see on main. a tragic story, yes, but not relevant to the instance, lemmy, or the fediverse as a whole, sorry.