Mon, Jan 31st, 2022 - 7:17am
June 30, 2023 - 11:28am | By Ty Schonert
(Washington, D.C.) -- The Supreme Court is striking down President Biden's student debt forgiveness plan.
In a 6-3 decision, the justices ruled Biden overstepped his authority when he didn't get authorization from Congress. The plan would have canceled $20,000 in loans for people who got Pell grants, or up to $10,000 for all other federal borrowers.
Top lawmakers are reacting to the Supreme Court's decision to block President Biden's student loan forgiveness plan. Senate Democratic Leader Chuck Schumer said the ruling shows the quote "callousness of the MAGA Republican-controlled Supreme Court," and said the Biden administration has other legal routes for debt cancelation. Republicans meanwhile applauded the high court's ruling. House Speaker Kevin McCarthy said the 87% of Americans without student loans are no longer forced to pay for the 13-percent who do.
