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Supreme Court Rules Against Biden’s Student Loan Forgiveness Program – The Stream



By The Stream

Published on June 30, 2023

The Supreme Court ruled Friday that Biden’s student loan forgiveness program cannot move forward.

In a 6-3 ruling, the Supreme Court held that the Secretary of Education could not forgive more than $430 billion in student loan debt, Fox Business reported.

According to Chief Justice John Roberts, in the ruling that he wrote on behalf of the majority of the Court,

The Secretary’s plan canceled roughly $430 billion of federal student loan balances, completely erasing the debts of 20 million borrowers and lowering the median amount owed by the other 23 million from $29,400 to $13,600. Six States sued, arguing that the HEROES Act does not authorize the loan cancellation plan. We agree.

Biden does not have the authority to unilaterally forgive student loans, republicans argued. The program would have cost taxpayers around $400 billion. Republicans also argued that Biden’s student debt forgiveness program would not be fair to those who have already repaid their loans, paid their way through college, or never went to college.

A White House official, speaking on the condition of anonymity, said, “While we strongly disagree with the court, we prepared for this scenario. The president will have more to say today.”

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