SCOTUS cited a a speech that then SpeakerPelosi gave at a press conference in July 2021 in its ruling against POTUS's student loan forgiveness plan. 'People think that the President...has the power for debt forgiveness. He does not,' she said.
The high court ruled 6-3 to cancel Biden's plan to wipe away $400 billion in student debt. In the majority opinion, Chief Justice John Roberts cited a speech that Pelosi gave at a press conference in July 2021."As then-Speaker of the House Nancy Pelosi explained: 'People think that the President of the United States has the power for debt forgiveness. He does not. He can postpone. He can delay. But he does not have that power.
The Supreme Court has been toiling over the constitutionality of Biden's plan for months after six Republican-led states sued the administration. The states alleged the president had exceeded his legal authority when he implemented the program last August to cancel up to $20,000 in debt for people holding federal student loans.
Biden had claimed he had the authority to wipe out student loans through the Higher Education Relief Opportunities for Students Act of 2003, or the HEROES Act.Student loan payments were paused at the beginning of the COVID-19 pandemic, and that pause has been extended several times throughout the Trump and Biden administrations. Now, after a three-year moratorium, interest will start accruing on Sept. 1 and payments are due beginning in October.
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