Supreme Court Decision On President Biden’s Student Loan Debt Relief Approach Is Bigger Than What You Think

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Last week, the Supreme Court decided on President Biden’s Student Loan Debt Relief Approach that will impact public policymaking for decades.

Supreme Court Decision On President Biden’s Student Loan Debt Relief Approach Is Bigger Than What You Think
Supreme Court Decision On President Biden’s Student Loan Debt Relief Approach Is Bigger Than What You Think (Photo: Bloomberg)

 

The Supreme Court turned down President Biden’s Student Loan Debt Relief plan

The Supreme Court decided on Friday to strike down President Biden’s Student Loan Debt Relief plan to cancel hundreds of billions of dollars in student loan debt relief that could prove to be the most significant but perhaps not for the reason Americans think.

In Biden v. Nebraska, the Supreme Court decided that Biden’s administration broke the law when the President attempted to cancel $10,000 in student loan debt relief for Americans who earn less than $125,000 annually and up to $20,000 for Pell Grant receivers.

The primary issue in the student loan debt relief case centered on the text included in the 2003 Heroes Act, which granted Education Department the authority to modify regulatory provisions applicable to the student financial assistance programs, and one of them is the student loan debt relief.

Read Also: Biden’s Student Loan Forgiveness Plan Rejected; Swindlers Arose

Biden used the power to give massive student loan debt relief

Biden’s student loan debt relief plan will have a massive impact.

The Supreme Court noted that the Education Department estimates that the student loan debt relief program will cover 98.5% of all student borrowers. Biden’s student loan debt relief plan cost $430 billion.

Read Also: President Biden’s Student Loan Forgiveness Plan Invalidated By The Supreme Court

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