The United States Supreme Court is currently deciding on the validity of President Biden's student debt relief plan. Complaints have been raised that the President has exceeded his authority and that states could lose tax revenue as a result. Supporters argue that the plan is necessary due to the financial hardship caused by the national emergency.

As of present, 26 million people are eligible for the plan's one-time relief with 1.2 million from New Jersey being among them. Up to $20,000 per borrower is available if said borrower meets certain criteria such as income limits. These funds come with opposition from those holding the moral stance that college graduates, who will enjoy higher earning potential, should pay for their own education.

However, perspective is needed on two key issues. First, for those with enough money to invest in 529 plans, college education can cost as much as $84,000/year at private universities, such