Students' loans are being forgiven under Biden's program
President Biden's expansive plan to cancel student loan debt will be discussed before a Supreme Court that is wary of the administration's audacious assertions of authority.
A battle worth over half a trillion dollars that might have an impact on more than 40 million People.
In Tuesday's oral arguments, an ambitious plan to fulfill a campaign promise for Biden's political base was brought together with a number of explosive concerns.
It is a spectacular display of authority to cancel hundreds of billions of dollars' worth of student loans through a decree that affects almost all borrowers.
In a brief submitted on behalf of his state and five others that are run by the Republicans, Nebraska Attorney General Michael T. Hilgers writes.
According to Miguel Cardona, secretary of education, the Higher Education Relief Opportunities for Students Act of 2003 gives the administration the power to cancel student loan debt.
For debtors making up to $125,000 per year, or up to $250,000 for married couples, Cardona's plan would remove up to $10,000 in college debt.
Forgiveness of an extra $10,000 is available to students who earned Pell Grants, a type of financial help for low- and middle-income students.
The amounts of almost 20 million borrowers may be cleared.
Cardona is also precisely what Congress had in mind when it created the HEROES statute in the wake of the 9/11 terrorist attacks, according to the U.S. Solicitor General Elizabeth B. Prelogar.