In a 6-3 decision, the Supreme Court struck down President Biden’s student loan forgiveness plan. The plan, which would have canceled up to $400 billion in student loan debt for millions of Americans, was challenged by a group of Republican-led states. The Court ruled that the plan exceeded the Secretary of Education’s statutory authority.
The decision was a major blow to borrowers who were hoping for relief from their student loan debt. It was also a setback for President Biden, who had made student loan forgiveness a key campaign promise.
In the wake of the decision, there is a lot of uncertainty about what will happen next. Borrowers who were expecting to have their loans forgiven are now facing repayment.
What are your thoughts on the ruling by the Supreme Court?