On Friday’s “ABC News Prime,” ABC News Business Reporter Alexis Christoforous stated that the Supreme Court’s decision striking down President Joe Biden’s student loan transfer plan means that taxpayers will no longer “be footing the bill” for student loan debt and government revenue from loan payments will increase. She also said that the ruling will help cool the economy.
Christoforous stated that the ruling could be a financial shock to those who have student loan debt and now have to start making loan payments again after not doing so for three years. After the discussion turned to the economy writ large, she said, “The money that would have been used to do other things will now have to go towards paying off these loans, right? So, that’s sort of the trickle-down effect. Over the course of the life of that loan, it’s thousands of dollars that someone would have saved to perhaps go out and buy a house, a car, or start a family. So, that sort of boost to the economy won’t be happening. Taxpayers, of course, won’t be footing the bill here and any revenue that the government would have seen from these loans will now happen.”
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