Biden and Harris Overstep Supreme Court on Student Debt Forgiveness

Biden's Repeated Attempts to Overrule the Courts

President Biden has been accused of acting as though he is above the law, with his latest move being an attempt to overrule the Supreme Court on the issue of student loan forgiveness. Despite the Supreme Court blocking his $430 billion student loan write-off in 2023, Biden has unveiled another debt forgiveness scheme. The Education Department's proposed rule would authorize forgiveness for approximately eight million borrowers experiencing "hardship". The department would be able to discharge debt if it calculates a borrower has an 80% likelihood of defaulting on payments within the next two years based on factors such as income, debt balances, and assets.

Concerns Over Broad-Based Debt Forgiveness

This rule would essentially allow the department to forgive the debt of any borrower at any time. The administration has suggested that high childcare costs could qualify as a hardship, raising questions about other potential qualifying factors such as high auto loan or credit-card payments. Critics have argued that this could create a moral hazard. In April, the department released a plan that cancels accrued interest for 25 million borrowers and forgives the debt of those who entered repayment over 20 years ago or who enrolled in low-financial-value programs. However, a federal court blocked this plan last month. Despite this, the department claims its new rule would operate separately and distinctly.

The Role of Harris

Vice President Harris has been supportive of Biden's policies, including his energy policy to ban gasoline engines, his immigration policy, the Inflation Reduction Act, Medicare for All, and student loan forgiveness. Despite previously stating she supported fracking, Harris has since reversed her stance.

Public Reaction to Immigration Policies

While there has been a public backlash against immigration, it is suggested that this is more a reaction to inflation and economic struggles. The New York Times has reported a tie in national support for Trump, indicating a shift in public sentiment.

Bottom Line

The actions of the Biden administration in attempting to overrule the courts on student loan forgiveness raise questions about the balance of power and the role of the courts in upholding the law. What are your thoughts on this issue? Do you agree with the administration's approach to student loan forgiveness, or do you believe it oversteps its authority? Share this article with your friends and sign up for the Daily Briefing, delivered every day at 6pm.