Supreme Court Strikes Down Biden Student Loan Forgiveness

Chris Menahan
InformationLiberation
Jun. 30, 2023

Joe Biden knew from day one that his student loan forgiveness plan would be struck down by the Supreme Court but did it anyways for political gain.

Nancy Pelosi says Biden DOES NOT have the power to cancel student loans.

“People think that the president of the United States has the power for debt forgiveness. He does not.” pic.twitter.com/0iz8uQeKXG
— RNC Research (@RNCResearch) April 29, 2022

Tons of young adults were teased with the prospect of this debt jubilee just so Democrats could muster up more votes and make the Supreme Court look like meanies by taking their ball away.

From Fox News, "Supreme Court rules against Biden student loan debt handout":

The Supreme Court ruled Friday that the Biden administration cannot go forward with its student loan debt handout program.

In a 6-3 decision, the court held that federal law does not allow the secretary of education to cancel more than $430 billion in student loan debt.

"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," Chief Justice John Roberts wrote for the majority. "Six States sued, arguing that the HEROES Act does not authorize the loan cancellation plan. We agree."

[...] "I will stop at nothing to find other ways to deliver relief to hard-working middle-class families," Biden said in a statement.

The White House source said Biden intends to blame Republicans for denying student borrowers the relief he promised to deliver to them.

Student debt relief should come from raiding colleges' massive endowments, not US taxpayers.

[Header image by Marie Lam, CC BY-SA 4.0]

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