WASHINGTON — The Supreme Court on Friday invalidated President Joe Biden’s student loan debt relief plan, meaning the long-delayed proposal intended to implement a campaign trail promise will not go into effect.
The justices, divided 6-3, ruled that the program was an unlawful exercise of presidential power because it had not been explicitly approved by Congress.
The plan, which would have allowed eligible borrowers to cancel up to $20,000 in debt and would have cost more than $400 billion, has been blocked since the 8th U.S. Circuit Court of Appeals issued a temporary hold in October.
About 43 million Americans would have been eligible to participate.
The student loan proposal is important politically to Biden, as tackling student loan debt was a key pledge he made on the campaign trail in 2020 to energize younger voters.
Continued…
Approved ~ MJM
