The Supreme Court has decided that the Biden administration acted unlawfully when it claimed authority to cancel hundreds of billions of dollars in student loans for tens of millions of borrowers.
Student loan cancellation is for now a vain hope for advocates who sought to transfer the debts of college-educated Americans to those taxpaying Americans who already paid their debts, earned their scholarships, or succeeded without going to college. The scheme would have canceled $10,000 in student-loan debt for each borrower earning less than $125,000, up to $20,000 for each borrower under the income cutoff if that borrower received a Pell grant, or less than $250,000 if the borrower files taxes as married or as head of household.
Lindsey Burke, director of the Center for Education Policy at The Heritage Foundation, and I wrote in August 2022 that the plan suffered from several policy and legal infirmities. (The Daily Signal is […]
Excerpt Sourced From: conservativeplaybook.com
