CORRECTION: U.S. Supreme Court Rules Against President Biden In First Of Two Challenges To His Plan To Cancel $430B In Student Loan Debt
Portfolio Pulse from Benzinga Newsdesk
The U.S. Supreme Court has ruled against President Biden's plan to cancel $430 billion in student loan debt. This is the first of two challenges to the plan.
June 30, 2023 | 2:43 pm
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NEUTRAL IMPACT
The Supreme Court ruling against the cancellation of student loan debt could have a neutral impact on SPY, as it is a broad market ETF and not directly linked to student loans.
SPY is an ETF that tracks the S&P 500 index. It is not directly linked to the student loan industry, so the impact of the Supreme Court ruling on its price is likely to be neutral.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
The Supreme Court ruling against the cancellation of student loan debt could potentially benefit Navient Corporation, as it services and collects student loans.
Navient Corporation is a student loan servicer. If the student loan debt is not cancelled, it means that Navient can continue its operations without any major disruptions, which could potentially lead to a positive impact on its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Supreme Court ruling against the cancellation of student loan debt could potentially benefit SLM Corporation, as it originates, services, and collects private education loans.
SLM Corporation is a private education loan provider. If the student loan debt is not cancelled, it means that SLM can continue its operations without any major disruptions, which could potentially lead to a positive impact on its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Supreme Court ruling against the cancellation of student loan debt could potentially benefit SoFi Technologies, as it provides student loan refinancing.
SoFi Technologies is a student loan refinancing provider. If the student loan debt is not cancelled, it means that SoFi can continue its operations without any major disruptions, which could potentially lead to a positive impact on its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80