US Senate Votes to Scrap Biden's $400B Student Loan Forgiveness Plan

The US Senate rejected President Joe Biden's plan to erase more than $400 billion in student loan debt on Thursday. This move puts forward an anticipated veto from the White House.

By a vote of 52-46, the Senate approved a resolution denouncing the Department of Education's execution of Biden's proposal. Democratic Senators Joe Manchin, Jon Tester, and Independent Senator Kyrsten Sinema joined all 49 Republicans in voting to stop the loan bailout, contributing to this result, Fox News reported.

Republicans contended that the program was unjust to individuals who either never took out student loans or had already paid them off, and the House voted to end it by a margin of 218 to 203. This eventually led to the Senate's decision.

Senators Manchin, Tester, and Sinema voted for the bill as moderate Democrats teamed up with Republicans to approve it.

According to Politico, Joe Biden's student loan relief proposal was condemned by Senator Manchin as being "reckless" and adding to the US debt. He voiced worry that the idea would burden taxpayers who had previously returned their student debts or chose not to seek further education. Senators Mark Warner and Michael Bennet abstained from the vote.

Biden's Student Loan Forgiveness Plan Faces Challenges

The White House noted that President Joe Biden must now decide whether to reject the bill or defend his student debt forgiveness scheme, per NBC News. However, two cases that the conservative-leaning US Supreme Court is anticipated to decide on this month may provide another substantial obstacle for Biden's student debt relief proposal.

Separately, the Senate is also considering the US debt ceiling agreement President Joe Biden and House Speaker Kevin McCarthy reached. If passed, this proposal will recommence federal student loan repayments at the end of August after they were suspended during the COVID-19 pandemic.

Nevertheless, despite Republican efforts to do so, the debt package does not include clauses that would prevent Biden's student debt forgiveness plan from being implemented.