“The Supreme Court voted 6–3 on June 30 to strike down President Joe Biden’s controversial plan to partially forgive student loans…
Biden unveiled the plan in August 2022 in a move critics decried as a constitutionally dubious attempt to help Democrats in November 2022 congressional elections. The Congressional Budget Office said the plan could cost about $400 billion, but the Wharton School estimates the price tag could blow past $1 trillion…
The U.S. Department of Education claims that it has the authority under the Higher Education Relief Opportunities for Students Act of 2003 (HEROES Act) to move forward with debt relief on an emergency basis, which would cancel as much as $20,000 in loan principal for 40 million borrowers.
But lawmakers involved in the passage of the HEROES Act have said it was enacted after the 9/11 terror attacks to provide student loan relief to military service members and their families, not to cancel debts en masse.”