@nowthisimpact: The Supreme Court issued a decision on June 30 blocking President Joe Biden's student loan forgiveness plan. The plan would have forgiven approx $400 billion in total student debt nationwide by delivering $10,000-$20,000 in relief to individual borrowers. In a 6-3 decision, with all conservatives on the court in favor and all liberals dissenting, the majority held that the Biden admin did not have the authority to issue the debt cancellation plan under the HEROES Act. The HEROES Act is an education bill passed in the wake of Sept 11, 2001, that allows the U.S. secretary of education to make changes to student financial assistance programs in connection with ‘a war or other military operation or national emergency.‘ The majority opinion, authored by Chief Justice John Roberts, also found that ‘mass debt cancellation program of this level of significance required clear congressional authorization,’ according to the the NYT. Almost immediately after the decision was released, a White House source told CNN that Biden plans to unveil ‘new actions to protect student loan borrowers‘ during a speaking event later on June 30. This is a developing story. #studentloanforgiveness #biden #studentdebtcrisis #studentdebtrelief

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Friday 30 June 2023 15:20:22 GMT