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The Supreme Court strikes down Biden's student-loan forgiveness plan, blocking debt relief for millions of borrowers (www.businessinsider.com)

submitted 3 years ago by SeeStars@kbin.social to c/politics@kbin.social

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The Supreme Court ruled Biden's student-loan forgiveness is illegal, meaning borrowers will resume payments without debt cancellation this year.

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[–] Tgnome@lemmy.world 12 points 3 years ago

Wow, so all those PPP loans that were forgiven for businesses are acceptable but forgiving loans given to students isn't?

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[–] InisSieferI@kbin.social 12 points 3 years ago (2 children)

Through the HEROES Act specifically which was a pretty dumb way to do it.

But still, how the hell did they have standing? Wtf? I have no idea how I'm going to budget these with how rampant inflation has been.

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[–] BraveSirZaphod@kbin.social 4 points 3 years ago (1 child)

The legal basis was always a little shaky. The majority opinion actually coyly cites Pelosi stating that actual cancellation would require an act of Congress. The standing issue seems pretty severe and will likely have some messy ramifications going forward.

The (very) sight silver lining is that this is itself deflationary, not that that's much solace.

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[–] Bojimbo@kbin.social 3 points 3 years ago*

The legal standing was not as shaky as news media keeps telling people. The Secretary of Education has the right to modify or waive loans. Roberts acknowledged this right, but claimed that partial loan forgiveness is neither of these things, when it's kind of both.

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[–] Col3814444@kbin.social 5 points 3 years ago

SC basically just making any old shit up to justify whatever right wing position they want nowadays. Something needs to be done.

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[–] rafoix@kbin.social 2 points 3 years ago

We must uncancel PPP loans. Make those leeches pay us back.

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