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(The Center Square) – Cancelling hundreds of billions of dollars in student loan debt cannot be done by President Joe Biden and his administration, the U.S. Supreme Court ruled Friday.
In a 6-3 decision, the court’s conservative majority rejected President Biden’s plan to cancel more than $400 billion in student loan debt for millions of borrowers. It would have been one of the most expensive executive actions in U.S. history.
The decision means Joe Biden's proposal to wipe out billions in student debt is effectively axed.
A sharply divided Supreme Court ruled Friday that the Biden administration overstepped its authority in trying to cancel or reduce student loans for millions of...
One of the primary benefits of federal student loans is the ability to have that debt forgiven. But it's not as easy as the stroke of a pen.