WASHINGTON — The Supreme Court on Friday rejected President Biden’s plan to forgive millions of student loans, ruling the nation’s chief executive did not have legal authority to waive more than $400 billion owed to the government. The Biden administration had asserted its right to cancel the loans as part of its emergency response to the COVID-19 pandemic. The heavy burden of student loans had become a major issue for Democrats. As a candidate in 2020, Biden promised to forgive up to $10,000 in student loans for many young borrowers, but he did not seek legislation from Congress when it was under Democratic control. They also argued the states had no standing to sue because they were not harmed by the president’s decision to forgive loans.

Source: Los Angeles Times June 30, 2023 15:00 UTC