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.

Associated Press

Jun 8, 2023, 10:39 AM

Updated 347 days ago

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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.
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.


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