You know what else we should be paying attention to student debt. If you are paying attention to the Saga or if you have student debt yourself, you are gonna wanna listen up. There's a good chance that we get a response from the Supreme Court of do we have to pay the student debt back as we might find out tomorrow. I Want to talk about how this could actually have a pretty adverse effect on the overall economy and thus the stock market? The fate of millions of Student Loan Borrowers is set to be decided this week.

The final week of June I Hope you're watching this in time. It's a big week for millions of student loan borrowers. The Supreme Court is entering the last week of its term and it's set to hand down all remaining decisions on pending cases. That means borrowers banking on.

President Joe Biden's plans to cancel up to twenty thousand dollars in student debt will likely soon find out whether they will resume payments this fall with a reduction to their balances or if it will be thrown back into repayment without any relief. The earliest the court could hand down a decision on the student debt relief plan is Tuesday June 27th with the option for additional decision days to be headed for the rest of the week. So basically we're going to be finding out pretty soon and obviously, individually, there's a lot of people wanting to know. Hey, are they gonna have to start repaying cup 100 a month? Or are they gonna get to Coast a little bit longer? Is it going to be completely forgotten? There's a lot of people who are currently in limbo I 100 feel for you and obviously it's a big issue.

and beyond that, as I alluded to before I Think there's going to be a huge, huge impact on the economy and thus the stock market for it. So just for a little bit more detail: Advocates Of Student Debt Relief Want President Joe Biden to use a 1965 law to cancel student debt if the Supreme Court overturns his loan forgiveness program. Biden's current plan to forgive as much as 20 000 in Federal loans for certain borrowers making less than 125 000 per year 250 000 per household is based on his authority in the 2003 Heroes act. A Supreme Court ruling invalidating the loan forgiveness program looks likely as the court issues some of its most monumentous decisions this week.

So as of now, if you were a betting person, it looks like Biden's concept of loan forgiveness won't go through. But I'm not saying that as a guarantee. it's just if we were odds makers, we would be betting on the Supreme Court knocking this down. so that's how things currently look.

But also, there's gonna be a fair chance that some of this changes, the restart of student loan payments is going to pressure the strong U.S Consumer: As 34 of borrowers say they'll be unable to make payments, this is where there could be a huge legitimate impact on the economy, and it might also Drive some of the old stock market world. To the downside, the upcoming restart of student loan payments could begin to weigh down a U.S consumer that has been remarkably resilient over the past year and a half according to a recent survey of 2 000 consumers. By Morgan Stanley concerns over upcoming debt and mortgage payments has soared to the highest level since the survey began. The average payment is between 300 and 400.

Based on various estimates, only 29 of consumers who have federal student loans are confident that they will have enough money to start making payments without adjusting spending in other areas. Obviously I have more to say about this, but that's a large percentage of people who are like Dude where's this money gonna come from Meanwhile, 37 of respondents said they will need to cut their spending in other areas to make the student loan payments, while a whopping 34 of respondents said they will not be able to make the payments at all, in this case, the restart of the payments will negatively impact low-income households the most. So I hope you can understand the seriousness of this situation. Obviously, we are going to be getting some sort of update to wrap up the week and the month of June here in 2023 and before I Get into sharing my own opinion on this I Want to talk about two things.

but really I want your thoughts in a comment below and the first thing is, do you think it will also have a negative impact on the economy I Don't think that's the biggest brain call out here. the fact that money is currently going into the economy, stimulating it, pushing it up and up and up. Obviously, if people just don't have that disposable income anymore, well, that's not going to be the best for the economy or the stock market. So I don't think that one's too contentious.

But hey, maybe if you have a different thought I would love to hear it more so I Want to talk about this concept of the student Loan payments repayments, not paying it all that stuff. In my humble opinion, yes, there is going to be a negative adverse effect on the economy and the stock market when students have to keep repaying. but I'm not necessarily against them repaying. and I'm particularly against the fact of just forgiving all this debt.

Now before you go to Up in Arms in my chat and in the comments, they're like, how dare you the government around all that stuff. My whole point is: I Think the Collegiate system within the US and probably arguably the world is one of the most corrupt systems ever. I Think it is exclusively exclusively preying on people who are not of age to make serious financial decisions. It should be illegal at the age of 16 or 17 to sign up for for six figures worth of debt when you don't understand what six figures is I Believe that the Collegiate system is predatory.

That's my opinion. The amount of money that goes in and the average payments that people get in terms of their salary afterwards, it simply does not add up. And if all of a sudden, we just forgive all this debt that doesn't fix the college system. So all of a sudden, if we're forgiving debt.

but it was also in one way or another associated with fixing the college system. Yeah, I might be more amenable to that particular idea, but as things currently stand, I Don't see how we're fixing the root issue here. So in terms of the payments, in a weird argument like I I suppose I Kind of just feel like, well, this is the one we should be talking about. The real issue is why is college inflating so incredibly much? and yet the people who are going there aren't getting their dollars worth? I Think that's where the government should be stepping in and looking at the extraordinary cost of college and the extraordinary percentage increase of the cost of college? I Think we just need to reframe the problem opposed like it's framed in a way that I just simply don't agree.

I Think whenever you're fixing a large large problem such as this, you gotta start at the root. You gotta start at the thing that initially caused it. you don't come in in the ninth inning and just be like, okay, we're gonna try to fix this part of it because inherently, it doesn't stop the problem. This is something we'll just have to deal with and deal with and deal with When in reality, if we're throwing around tons and tons of money, we better be doing it appropriately and fixing the actual problem.

Now once again, I'm these are just my own opinions. so I would love to get your thoughts in a comment below.