The Supreme Court has ruled against the Biden administration’s proposal to forgive $430 billion in student loan debt, affecting approximately 43 million eligible borrowers.
President Biden has voiced his disapproval of the Republican party’s successful legal action to halt the program and has expressed the view that the Supreme Court may have misinterpreted the Constitution.
Nevertheless, despite this setback, President Biden has introduced an alternative path to offer student loan relief by leveraging the Higher Education Act of 1965. This empowers the Secretary of Education to consider compromising, waiving, or releasing loans under specific circumstances. While the new approach aims to provide relief to as many borrowers as possible, it is expected to proceed at a slower pace.
Read More
The Hill Rating
Discover more from News Facts Network
Subscribe to get the latest posts sent to your email.
