by Morgan Phillips at Daily Mail
- The court ruled in a 6-3 decision that the scheme was unlawful
- The plan would have eradicated $10,000 in debt for borrowers earning less than $125,000 and up to $20,000 for those with Pell Grants
Republicans are celebrating the Supreme Court‘s overturning of President Biden’s student loan plan as a ‘victory’ for taxpayers while Democrats are deeming the high court ‘corrupt.’
The court ruled in a 6-3 decision that the scheme was unlawful.
The plan would have eradicated $10,000 in debt for borrowers earning less than $125,000 and up to $20,000 for those with Pell Grants. Estimates pegged the cost at over $400 billion.
It was challenged by six Republican states and two borrowers who argued Biden should have sought approval from Congress for a plan using substantial taxpayer funds.
‘Today’s Supreme Court ruling overturning President Biden’s illegal student loan scheme is a victory for common sense,’ said South Carolina Republican and presidential candidate Sen. Tim Scott. ‘You take out a loan, you pay it back. This decision frees taxpayers from shouldering debt they never signed up for.’…
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