Supreme Court strikes down President Biden's plan to forgive student loans
The U.S. Supreme Court struck down a plan that would have wiped away or reduced student loans for millions of Americans.
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The U.S. Supreme Court struck down a plan that would have wiped away or reduced student loans for millions of Americans.
WASHINGTON (Reuters) - The U.S Supreme Court on Friday was set to rule on the legality of President Joe Biden's plan to cancel $430 billion in student loan debt - a move intended to benefit up to 43 million Americans and fulfill a campaign promise.
President Biden insisted his administration has the authority to forgive student loan debt under the Higher Education Relief Opportunities for Students Act of 2003.
The justices are expected to issue rulings in two cases challenging Biden’s authority to forgive student loan debt under a 2003 law called the HEROES Act.
The court ruled in favor of the six GOP-led states that alleged President Joe Biden overstepped his authority with his loan forgiveness plan.