The Supreme Court has struck down the Biden administration’s student loan forgiveness plan. In Biden v. Nebraska, the court ruled 6-3 on June 30, 2023, that the secretary of education does not have the authority to forgive US$430 billion of student loans under the Health and Economic Recovery Omnibus Emergency Solutions Act.
That kills the president’s proposed plan to forgive up to $10,000 in student loans per borrower for those with incomes under $125,000 per year, or $250,000 per year for couples. Under the president’s plan, those who received Pell Grants would have been eligible to cancel up to an additional $10,000 in student loans.
