President Joe Biden’s federal student loan forgiveness program would’ve forgiven $10,000 in debt for individuals earning less than $125,000 per year, or $250,000 per household, and $20,000 for those who received Pell grants for low-income families.
More than 26 million people applied to have some of their loan debt erased, initially crashing the financial aid website.
In the majority opinion, Chief Justice Roberts writes:
Congress opted to make debt forgiveness available only in a few particular exigent circumstances; the power to modify does not permit the Secretary to “convert that approach into its opposite” by creating a new program affecting 43 million Americans and $430 billion in federal debt.
In a statement, Biden said, “My Administration will continue to work to bring the promise of higher education to every American,” and promised more details in a national address later today.
[www.supremecourt.gov]
