President Joe Biden vetoes bill to cancel student debt relief
If enacted, Joe Biden's plan would forgive up to $20,000 in federal student loan debt for borrowers making less than $125,000 per year.
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President Joe Biden on Wednesday vetoed legislation that would have canceled his plan to forgive student debt.
The measure had been pushed by Republicans, but it garnered a handful of Democratic votes in the Senate as well.
“It is a shame for working families across the country that lawmakers continue to pursue this unprecedented attempt to deny critical relief to millions of their own constituents,” Biden said in a statement when announcing his veto.
RELATED: Here's how to prepare to start paying back your student loans when the pandemic payment freeze ends
Despite the veto, Biden's plan still isn't secure. The U.S. Supreme Court, which is dominated by a conservative majority, is reviewing a legal challenge that could eliminate the program. A decision is expected this summer.
If enacted, Biden's plan would forgive up to $20,000 in federal student loan debt for borrowers making less than $125,000 per year.
Student loan payments were paused at the beginning of the COVID-19 pandemic. However, they will resume in August for anyone whose debt is not wiped out by Biden's plan.
