People rally in support of the Biden administration's student debt relief plan in front of the the U.S. Supreme Court on February 28, 2023 in Washington, DC.The Supreme Court ruled Friday that President Biden’s controversial program to forgive student loan debt for roughly 40 million borrowers exceeded his executive authority.
The states argued Biden didn’t have the power to cancel the mountains of student debt for borrowers, and instead needed to turn to Congress to enact legislation tied to the loan forgiveness.to unilaterally enact the program under the decades-old Higher Education Relief Opportunities for Students Act, claiming the student loan cancellation is doling out an existing benefit, and not new legislation.
Even though the national emergency tied to COVID-19 ended on May 11 at the direction of Biden, the White House argued to the Supreme Court this February that the economic consequences of the pandemic will last longer, making the forgiveness necessary.
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