Supreme Court Strikes Down Biden’s Student Loan Forgiveness Plan

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The Supreme Court has blocked the Biden administration’s plan to forgive up to $20,000 in federal student loans.

In a 6-3 decision, the Court ruled that federal law does not authorize the Secretary of Education to wipe out student loan debt. Chief Justice John Roberts wrote the majority opinion.

Biden’s plan was first announced last August, with over 16 million people applying before it was put on hold due to legal challenges from Republicans. The White House says President Joe Biden will announce a new plan for student loans on Friday.

Chief Justice John Roberts said the Biden administration could not rely on the HEROES Act for the loan forgiveness plan.

“The authority to ‘modify’ statutes and regulations allows the Secretary to make modest adjustments and additions to existing regulations,” Roberts wrote, “not transform them.”

Student loan interest will start accruing on September 1, with payments restarting in October.

What will be Biden’s next move?  Do you agree with the Court’s decision?  Is forgiving student loans unfair to people who have already paid theirs back?

Supreme Court Strikes Down Biden’s Student Loan Forgiveness Plan  was originally published on wbt.com