We finally have a decision… What happens next?
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The Supreme Court Denies Biden’s Plan
- The Supreme Court has just announced their denial of loan forgiveness for all Americans. According to the ruling, “The Biden administration overstepped its authority in trying to cancel or reduce student loans for millions of Americans“.
- The vote was 6 to 3 in favor of rejecting the plan, which surprised me. I did not expect the court to be so divided, and in previous updates, I expected this very outcome.
“Congress authorized the forgiveness plan (among many other actions); the Secretary put it in place; and the President would have been accountable for its success or failure,” Kagan wrote. “But this Court today decides that some 40 million Americans will not receive the benefits the plan provides, because (so says the Court) that assistance is too ‘significant.’ ”
The Three Liberals of The Supreme Court
What Happens Next?
- Millions of borrowers, including myself, have been left in limbo as the final decision has taken months to come down. After several pauses on repayments, another pause is unlikely.
As this landmark ruling develops, I’d like to know your thoughts below.
anxiety authors betterlife blackhistory book boss Breezideezi business career cash college confidence debt development earnmoneyonline earnonline encourage entrepreneur entrepreneurship fear forgiveness growth help loan loanforgiveness makemoneyonline mentalhealth money motivation onlineincome onlineincometips persistence personaldevelopment philosophy poem poetry quote school sidehustle sidehustlesaturday sidehustlesaturdays strength studentdebt studentloans supremecourt
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Discuss!