SCOTUS strikes down Biden student loan forgiveness plan
The United States Supreme Court ruled Friday against President Biden's plan to forgive over $400 billion in federal student loans.
The United States Supreme Court ruled Friday against President Biden’s plan to forgive over $400 billion in federal student loans debt.
The plan to forgive up to $20,000 in federal student loans per borrower was struck down in a 6-3 decision. The court ruled that the initiative was an improper use of presidential power, given that it was not approved by Congress.
Earlier this summer the US Senate rejected the Biden’s debt forgiveness program by voting to pass a bill to block it. According to the program, up to $20,000 would be granted to selected American graduates to assist in paying off their student debt. The Senate voted in favor with a 52-46 outcome.
In June, President Biden signed the Fiscal Responsibility Act of 2023, setting the repayment date for student loan payments paused in response to COVID-19, to September 30.
Last week, Florida Governor Ron DeSantis suggested that universities pay the price for the student debt crisis, saying that universities should bear the cost of student debt.
“Incidentally in Florida, we don’t let our universities raise tuition,” DeSantis stated. “So it’s about $6,400 in-state for tuition at the University of Florida, Florida State, and all those places, and we’re holding the line on that. Our view is: you guys deliver an education that is affordable, I don’t want anyone to have to be deep in debt just to get a college degree.”
“If you produce somebody that can’t pay it back, that’s on you,” DeSantis said in reference to universities.
But many academics think the plan is a good idea. Campus Reform recently highlighted multiple instances in which professors promoted the student loan forgiveness plan on social media.
