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According to the top court, the Biden administration needed to take the US Congress's opinion before making such a move. The court also refuted the idea that the HEROES Act gave the President the power to enact such a decision.
A sharply divided Supreme Court on June 30 effectively killed President Joe Biden’s $400 billion plan to cancel or reduce federal student loan debts for millions of Americans.
The court held that the administration needs Congress' endorsement before undertaking so costly a program.
The 6-3 decision leaves borrowers on the hook for repayments.
The 6-3 decision, with conservative justices in the majority, said the Biden administration overstepped its authority.