Supreme Court Strikes Down Biden's Student Loan Forgiveness Plan
6-3 Ruling Finds Administration Overstepped Authority
By Kenny Holston, The New York Times
**First published on June 30, 2023, 10:54 AM EDT**
In a significant blow to the Biden Administration, the Supreme Court has struck down the President's plan for federal student loan forgiveness.
The Court ruled 6-3 that the Biden Administration overstepped its authority in implementing the plan, which aimed to cancel up to $20,000 in federal student debt for eligible borrowers.
The ruling comes as a major setback for the Biden Administration, which had prioritized federal student loan forgiveness as a key campaign promise.
Though, even before the Supreme Court's decision, the Biden Administration had already committed to a similar timeline. The Administration had announced that it would stop accepting new applications for the forgiveness program on December 31, 2023.
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