Biden v. Nebraska
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| Biden v. Nebraska | |
| Court | Supreme Court of the United States |
|---|---|
| Citation | |
| Date decided | 2023-6-30 |
Facts
Biden issued an announcement ( https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/24/fact-sheet-president-biden-announces-student-loan-relief-for-borrowers-who-need-it-most/ ) forgiving up to $10,000 per year of the outstanding student loan debts. If eligible , a student could have up to an $20,000 in total student loan debt forgiven.
The cost of the student debt forgiveness was $430 billion.
As of 2023, the total student loan debt in the United States was $1.75 trillion.Arguments
Opponents argued that the Biden student loan forgiveness didn't address the root cause of the debt which is skyrocketing cost of college education.
Is there a moral hazard in wiping out student debts without putting in place a price control?Holding
Biden has no authority to forgive student loans by means of an executive order.
Biden needed "direct authorization from Congress" to erase student loans.Resources
