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The Supreme Court strikes down Biden's student-loan forgiveness plan, blocking debt relief for millions of borrowers (www.businessinsider.com)

submitted 1 year ago by SeeStars@kbin.social to c/politics@kbin.social

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The Supreme Court ruled Biden's student-loan forgiveness is illegal, meaning borrowers will resume payments without debt cancellation this year.

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[–] BraveSirZaphod@kbin.social 0 points 1 year ago (1 children)

The legal basis was always a little shaky. The majority opinion actually coyly cites Pelosi stating that actual cancellation would require an act of Congress. The standing issue seems pretty severe and will likely have some messy ramifications going forward.

The (very) sight silver lining is that this is itself deflationary, not that that's much solace.

[–] Bojimbo@kbin.social 1 points 1 year ago

The legal standing was not as shaky as news media keeps telling people. The Secretary of Education has the right to modify or waive loans. Roberts acknowledged this right, but claimed that partial loan forgiveness is neither of these things, when it's kind of both.