Supreme Court strikes down Biden’s plan to forgive millions of student loans

[JackSeal]

The Supreme Court on Friday rejected President Biden's plan to forgive millions of student loans, ruling the nation's chief executive did not have legal authority to waive more than $400 billion owed to the government.

The Biden administration had asserted its right to cancel the loans as part of its emergency response to the COVID-19 pandemic and under a 2003 law called the HEROES Act, passed at the time of the Iraq War.

By a 6-to-3 vote in Biden vs. Nebraska, the court's conservatives said that only Congress could authorize such a large- scale cancellation of government-provided loans, and it had not done so.

Writing for the majority, Chief Justice John G. Roberts Jr. said, "The HEROES Act allows the secretary to 'waive or modify' existing statutory or regulatory provisions applicable to financial assistance programs under the Education Act, but does not allow the secretary to rewrite that statute to the extent of canceling $430 billion of student loan principal."

[Joker_007]

16 hours ago, JackSeal said:

The Supreme Court on Friday rejected President Biden's plan to forgive millions of student loans, ruling the nation's chief executive did not have legal authority to waive more than $400 billion owed to the government.

The Biden administration had asserted its right to cancel the loans as part of its emergency response to the COVID-19 pandemic and under a 2003 law called the HEROES Act, passed at the time of the Iraq War.

By a 6-to-3 vote in Biden vs. Nebraska, the court's conservatives said that only Congress could authorize such a large- scale cancellation of government-provided loans, and it had not done so.

Writing for the majority, Chief Justice John G. Roberts Jr. said, "The HEROES Act allows the secretary to 'waive or modify' existing statutory or regulatory provisions applicable to financial assistance programs under the Education Act, but does not allow the secretary to rewrite that statute to the extent of canceling $430 billion of student loan principal."

ayitehy ippudu na friends kattalsinde antavu .... 

[kiran1012]

6 hours ago, Joker_007 said:

ayitehy ippudu na friends kattalsinde antavu .... 

great, if passed it would be a burden to tax payers. Instead they should have waived for people serving in military, law enforcement or in public sectors where most people does not like to work.

Can also help by removing loan interest but complete waiver will effect economy.

[shaktimaan]

3 minutes ago, kiran1012 said:

great, if passed it would be a burden to tax payers. Instead they should have waived for people serving in military, law enforcement or in public sectors where most people does not like to work.

Can also help by removing loan interest but complete waiver will effect economy.

are you aware of PPP loans and how it was enforced 

[kiran1012]

6 minutes ago, shaktimaan said:

are you aware of PPP loans and how it was enforced 

Koncham telusu, Covid appudu   Govt small medium business lake loan ichinavi kadha.

I heard there was misuse here too..

[JaiBalayyaaa]

 

CC @TOM_BHAYYA

[shaktimaan]

56 minutes ago, kiran1012 said:

Koncham telusu, Covid appudu   Govt small medium business lake loan ichinavi kadha.

I heard there was misuse here too..

blatant misuse and corruption

they never had a problem with PPP and as if it didn't "burden the taxpayers" but student loans do

now he will go after PPP loans and will use it as his main point for next election