Biden vetoes bill to cancel student loan debt relief (2024)

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Biden vetoes bill to cancel student loan debt relief? ›

WASHINGTON (AP) — 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.

House Fails to Override Biden's Veto of Legislation to Repeal Debt Cancellation Program. The House on Wednesday was unable to override President Joe Biden's veto of a resolution seeking to overturn his administration's student loan forgiveness plan and immediately end the pause on federal student loan payments.

Senate passes GOP bill overturning student loan cancellation, teeing it up for Biden veto. WASHINGTON (AP) — A Republican measure overturning President Joe Biden's student loan cancellation plan passed the Senate on Thursday and now awaits an expected veto. The vote was 52-46, with support from Democratic Sens.

The Supreme Court issued a decision blocking us from moving forward with our one-time student debt relief plan. The information below is not up to date.

Biden Jr. has vetoed 10 bills. There have been 2,594 ¹ presidential vetoes since 1789.

A veto can only be overridden by a two-thirds vote in both the Senate and the House. The bottom half of the reverse side of S. 518 shows the House of Representative's attempt to override the veto. This occurred May 23, 1973—the day after the Senate vote.

In a pair of recent cases, the U.S. Supreme Court ruled on the Biden administration's student loan forgiveness program. In Biden v. Nebraska, which was decided 6-3, the court struck down the administration's student loan forgiveness program and agreed with the six challenging states that they had standing to sue.

USA Today: Senate votes to repeal Biden student loan forgiveness; White House plans a veto. The Senate approved a bill Thursday that would repeal President Joe Biden's student loan debt forgiveness plan.

Before President Biden took office, only 7,000 people ever received debt relief through PSLF. After fixing the program, the Biden-Harris Administration has now cancelled student loan debt for nearly 800,000 public service workers.

Having a student loan will affect your credit score. Your student loan amount and payment history are a part of your credit report. Your credit reports—which impact your credit score—will contain information about your student loans, including: Amount that you owe on your loans.

What happens if you don't pay student loans? ›

A loan goes into default after a borrower fails to make a payment for at least 270 days, or about nine months, which can result in further financial consequences. A default can further damage your credit score, making it harder to buy a car or house. It could take years to establish good credit again.

While there are few direct estimates of the effect of debt cancelation in the literature, estimates based on the relationship between wealth and consumption suggest that this forgiveness could increase consumption by several billions of dollars each year in the next five to ten years.

Today, the House of Representatives fell short of overriding President Biden's veto of H.J. Res. 27, a measure that would have overturned the Administration's flawed, burdensome waters of the United States (WOTUS) rule. A two-thirds majority was needed to pass and override the President's veto.

The Senate failed to override President Joe Biden's veto of a resolution that tried to upend the administration's ambitious electric vehicle charging plans. The 50-47 vote was far short of the two-thirds necessary.

But if the president does not sign off on a bill and it remains unsigned when Congress is no longer in session, the bill will be vetoed by default. This action is called a pocket veto, and it cannot be overridden by Congress.

In those circ*mstances, the President can prevent the bill from becoming law simply by declining to sign it, sometimes called a pocket veto. If the President blocks legislation by pocket veto, Congress cannot later override the veto—instead, the legislature must reintroduce the bill and enact it again. Id.