for the Biden administration, politically and legally. It is only the latest such defeat where the president has overreached on his authority. Previously, the president argued that he could use the CDC as the basis for the eviction moratorium during the pandemic, even though many of us said that he clearly lacked that authority, he went ahead and did it anyway. In fact, he admitted that by the time the courts might strike down his efforts, he could get a lot of money out the door.
In a 6-3 decision, the court held that federal law does not allow the Secretary of Education to cancel more than $430 billion in student loan debt. "The Secretary’s plan canceled roughly $430 billion of federal student loan balances, completely erasing the debts of 20 million borrowers and lowering the median amount owed by the other 23 million from $29,400 to $13,600," Chief Justice John Roberts wrote for the majority."Six States sued, arguing that the HEROES Act does not authorize the loan cancellation plan. We agree."
President Biden strongly disagrees with the court's decision and will make an announcement later today detailing new actions to protect student loan borrowers, a White House source told
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