Tomorrow's the big day, as the Supreme Court holds a hearing on Joe Biden's student loan forgiveness program. Via CNN:
Biden announced the targeted student loan forgiveness program last August, but the implementation was put on hold by lower courts before any debt forgiveness was granted.
The justices will hear arguments in two cases Tuesday concerning the program, which is estimated to cost $400 billion.
One case was brought by six Republican-led states that say they would be harmed financially if the forgiveness program goes into effect. The other case was brought by two borrowers in Texas who don’t fully qualify for debt forgiveness under the program.
Plaintiffs in both lawsuits argue that the administration does not have the authority to cancel the student loan debt under the proposed rules of the program. But the Biden administration argues that a 2003 law grants the executive branch the power to discharge federal student loan debt in the event of a national emergency, including the Covid-19 pandemic.
However!
So all that remains is, will SCOTUS make up their own interpretation of the intended powers of the law this time, or will they do the right thing for a change? We wait with bated breath.
