Student loan debt has ballooned to over $1.6 trillion with more than 45 million borrowers. A third of borrowers never attain a degree and the weight of this debt can be crushing to Americans. President Joe Biden fulfilled his campaign promise by forgiving a portion of student loans for borrowers. After launching the application, courts blocked the continuation of the plan due to opposing cases from republicans, states and individuals. The Supreme Court heard the case and now borrowers are awaiting the decision.
Chapters:
0:00 Introduction
1:09 Ch. 1: The challenge to Biden’s plan
3:14 Ch. 2: The Supreme Court case
4:44 Ch. 3: What if SCOTUS blocks Biden’s plan?
6:37 Ch. 4: What’s next?
Produced by: DeLon Thornton
Edited by: Dennis Donovan
Graphics by: Jason Reginato
Reporting by: Annie Nova
Supervising Producer: Jeff Morganteen
Additional Footage: Getty Images
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Connect with CNBC News Online
Get the latest news: https://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
#CNBC
Will The U.S. Supreme Court Strike Down Biden’s Student Debt Plan?
