Where Does Biden’s Student Loan Debt Plan Stand? Here’s What to Know.

Published On Aug 28, 2024, 9:30 PM

The Supreme Court has blocked a key part of President Biden's student debt plan, specifically the SAVE (Saving on a Valuable Education) program, which allowed many borrowers to apply for forgiveness based on their income and family size. This decision leaves millions of federal loan holders uncertain about their future relief options. Despite this setback, Biden's administration has previously canceled about $167 billion in loans for 4.75 million borrowers, which represents about 10% of federal loan holders.

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Stock Forecasts

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Education sector stocks focused on traditional routes of education (like colleges) may see a boost as more individuals may consider enrolling due to the uncertainty around loan forgiveness. This could favorably affect stocks associated with educational institutions.

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