The Supreme Court may soon rule on Biden’s student loan forgiveness plan
VoxJul 04, 2023
The Facts
SCOTUS on Friday voted 6-3 to strike down US Pres. Joe Biden's student loan forgiveness plan, which would have given $10K in loan relief to individuals making less than $125K a year, and $20K for Pell Grant recipients – a total of more than $430B.
Nearly 26M borrowers had already applied for the forgiveness, which would have also forgiven loans for couples making less than $250K combined. Already 16M applications were approved, but due to legal battles, no loans had been forgiven.
The Spin
Republican narrative
SCOTUS just saved the American people from Biden’s unconstitutional power grab. He never had the right to throw around $400B of taxpayer money like his own personal piggy bank without Congressional approval. Democrats will have to find another way to bribe young people for their votes.
Democratic narrative
The HEROES Act is straightforward in granting the executive branch the authority it needs to assist citizens during a national crisis, including forgiving student loan debt during a pandemic. It’s SCOTUS that has made up a new legal approach and overstepped its bounds here, not the Biden administration.
