Supreme Court Rejects Biden's Student Loan Forgiveness Plan
Subsidy Struck Down
Legal Battle Ends with Conservative Victory
In a significant blow to President Joe Biden's agenda, the Supreme Court has ruled against his administration's plan to forgive federal student loans.
The decision, issued on Friday, June 30, 2023, came after a lengthy legal battle between the administration and Republican-led states that had challenged the plan. The Court, with a conservative majority, voted 6-3 to strike down the program.
President Biden expressed disappointment with the ruling, stating that it would "hurt millions of working families and hinder our economic recovery." The administration had argued that the plan was necessary to provide financial relief to borrowers struggling with student debt.
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