A poll conducted by Intelligent.com has exposed the aftermath of the failed student loan forgiveness plan proposed by President Joe Biden. Shockingly, the survey discovered that nearly one-third of Americans burdened with student loans had indulged in unanticipated spending, fueled by the hope of loan forgiveness. Their misplaced confidence was shattered when the Supreme Court struck down the plan last month. The poll revealed that borrowers had channeled the extra funds towards vacations, retail purchases, and even towards drugs, alcohol, and gambling. The poll also provided insights into the spending habits, with retail items being the most popular expenditure. The thwarted relief has left over half the borrowers feeling financially unprepared, with repayments set to resume soon. The Supreme Court’s decision clarified that the proposed relief did not have the necessary authority.
