Supreme Court rejects Biden’s student loan transfer scheme. Making hardworking Americans, who paid off or never took out a student loan, pay off the debt of others is unconstitutional.
— Rep. Barry Loudermilk (@RepLoudermilk) June 30, 2023
Fox News: Supreme Court rules against Biden student loan debt handout
The Supreme Court ruled Friday that the Biden administration cannot go forward with its student loan debt handout program.
In a 6-3 decision, the court held that federal law does not allow the secretary of education to cancel more than $430 billion in student loan debt.
“The Secretary’s plan canceled roughly $430 billion of federal student loan balances, completely erasing the debts of 20 million borrowers and lowering the median amount owed by the other 23 million from $29,400 to $13,600,” Chief Justice John Roberts wrote for the majority. “Six States sued, arguing that the HEROES Act does not authorize the loan cancellation plan. We agree.” READ MORE