{"id":1961366,"date":"2023-06-30T12:02:01","date_gmt":"2023-06-30T16:02:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/scotus-rules-on-400b-student-debt-cancellation-plan-its-bad-news-for-biden\/"},"modified":"2023-06-30T12:03:30","modified_gmt":"2023-06-30T16:03:30","slug":"scotus-rules-on-400b-student-debt-cancellation-plan-its-bad-news-for-biden","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/scotus-rules-on-400b-student-debt-cancellation-plan-its-bad-news-for-biden\/","title":{"rendered":"SCOTUS decision on $400B student debt plan is unfavorable for Biden."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fscotus-rules-on-400b-student-debt-cancellation-plan-its-bad-news-for-biden%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1961366&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Supreme Court Strikes Down Biden&#8217;s $400B Student Debt Cancellation Plan<\/h2>\n<p>The Supreme Court delivered a significant blow to the Biden administration on Friday, ruling that it had overstepped its constitutional authority by assuming responsibility for the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cbo-miscalculated-federal-student-loan-program-budget-by-500-billion\/\" title=\"CBO Miscalculated Federal Student Loan Program  Budget by 0 Billion\">unpaid student loans<\/a> of millions of Americans. This decision effectively killed President Joe Biden&#8217;s $400 billion plan, leaving borrowers on the hook for their loans.<\/p>\n<p>The 6-3 decision, with conservative justices in the majority, highlighted the need for Congress&#8217; endorsement before undertaking such a costly program. The court rejected arguments that a bipartisan 2003 law, known as the HEROES Act, gave Biden the power he claimed.<\/p>\n<p>Justice Elena Kagan, in a dissent joined by the court&#8217;s two other liberals, expressed disappointment in the majority&#8217;s decision, stating that it eliminated loan forgiveness for 43 million Americans and disregarded the combined judgment of the Legislative and Executive Branches.<\/p>\n<p>The forgiveness program would have canceled $10,000 in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-releases-list-of-president-trumps-accomplishments-and-it-is-historic\/\" title=\"White House Releases List of President Trump\u2019s Accomplishments \u2013  And It Is Historic!\">student loan debt<\/a> for those making less than $125,000 or households with less than $250,000 in income. Pell Grant recipients, who typically demonstrate more financial need, would have had an additional $10,000 in debt forgiven. The administration estimated that 43 million people would have been eligible for relief, with a total cost of $400 billion over 30 years.<\/p>\n<p>Repayments are now expected to resume by late summer, following a schedule initially set by the administration and included in the agreement to raise the debt ceiling. Loan payments have been on hold since the start of the coronavirus pandemic more than three years ago.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">In a 6-3 opinion authored by John Roberts, SCOTUS has nuked Biden\u2019s unconstitutional college debt cancellation scheme. <a href=\"https:\/\/t.co\/BUYZidEpQD\">https:\/\/t.co\/BUYZidEpQD<\/a> <a href=\"https:\/\/t.co\/iDgK0SJkrQ\">pic.twitter.com\/iDgK0SJkrQ<\/a><\/p>\n<p>\u2014 Sean Davis (@seanmdav) <a href=\"https:\/\/twitter.com\/seanmdav\/status\/1674790946855321603?\">June 30, 2023<\/a><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">BREAKING: Supreme Court strikes down Biden\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/scotus-rules-on-400b-student-debt-cancellation-plan-its-bad-news-for-biden\/\" title=\"SCOTUS decision on 0B student debt plan is unfavorable for Biden.\">unlawful student loan debt forgiveness scam<\/a>.<\/p>\n<p>I\u2019m proud to have brought this case as Missouri\u2019s Attorney General and save taxpayers a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/senate-votes-against-suspending-debt-limit\/\" title=\"Senate votes against suspending debt limit\">half trillion dollars<\/a>.<\/p>\n<p>\u2014 Eric Schmitt (@Eric_Schmitt) <a href=\"https:\/\/twitter.com\/Eric_Schmitt\/status\/1674791643000754179?\">June 30, 2023<\/a><\/p>\n<\/blockquote>\n<p style=\"font-style: italic\">The Western Journal has reviewed this Associated Press story and may have altered it prior to publication to ensure that it meets our editorial standards.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\/scotus-rules-400b-student-debt-cancellation-plan-bad-news-biden\/\">SCOTUS Rules on $400B Student Debt Cancellation Plan, It&#8217;s Bad News for Biden<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\">The Western Journal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Supreme Court&#8217;s 6-3 decision on Friday declared that the Biden administration exceeded its constitutional authority by making the federal government accountable for the unpaid student loans of numerous Americans. Consequently, President Biden&#8217;s $400 billion plan was terminated, leaving borrowers in a state of uncertainty. Conservative justices formed the majority in this ruling.<\/p>\n","protected":false},"author":136,"featured_media":1961367,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-1961366","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1961366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/136"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1961366"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1961366\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1961367"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1961366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1961366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1961366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}