As the U.S. Supreme Court starts looking more closely at the legality behind President Biden’s proposed student loan handout plan, Americans are voicing their opinions as they weigh the fiscal move’s taxpayer impact.
"I'm currently not a fan because that's just going to make everyone else's taxes higher, because someone's going to have to pay for it," one young person told FOX Business’ Lydia Hu in a man-on-the-street-style "Varney & Co." segment.
Just before the midterm elections, the Biden administration announced a college loan forgiveness plan that would cancel $10,000 in federal student loans for individuals making less than $125,000 per year or households earning less than $250,000 annually as of 2020 or 2021. Recipients of Pell Grants – who typically demonstrate greater financial need – would receive an additional $10,000 in debt cancellation.
