Forgiving student debt would not make the money owed disappear, it would ultimately be shifted to taxpayers.
The Supreme Court taught college students and grads a harsh fiscal lesson on Friday: When you take out a loan, you have to pay it back.
As reported, a once-again divided Supreme Court iced President Joe Biden’s plan to cancel or reduce federal student loan debts for millions of Americans.
The 6–3 decision, with conservative justices in the majority, said the Biden administration overstepped its authority with the plan to forgive up to $20,000 in student loan debt. Borrowers have to resume payments in the fall.
Reactions from the progressive politicians who pushed this plan were as expected: Sen. Elizabeth Warren tweeted “More than 40 million hard working Americans are waiting for the help that President Biden promised them, and they expect this administration to throw everything they’ve got into the fight until they make good on this commitment.”
Then there’s this post from Rep. Jim McGovern: “It’s no surprise that the same corrupt majority on the Supreme Court that overturned abortion rights, stripped environmental regulations, weakened labor protections & loosened gun laws has now decided that going to college should remain a debt sentence for millions of borrowers.
