The Biden administration continues to try to push Biden's student loan handout through the Supreme Court, but it has failed again.
This week, the Supreme Court again denied the administration's request to lift a block on the Saving on a Valuable Education (SAVE) plan.
Talking Points…
- Biden student loan forgiveness plan
- SCOTUS denial
- Analysis
When Joe Biden was campaigning during the 2020 election cycle, he proposed student loan forgiveness. This was widely considered a plan to buy votes from younger voters. However, Republicans resisted Biden's plan during the election and fought him tooth and nail when he released it.
The Pennsylvania University Wharton Business School analyzed the plan, and it was not good. Wharton claimed:
"We estimate that the New Plans will cost $84 billion in addition to the $475 billion that we estimated for President Biden's SAVE plan, for a total cost of about $559 billion across both plans."
The news got worse in terms of how much money this plan would cost taxpayers, with the Committee for a Responsible Federal Budget (CRFB) estimating the cost to be between $870 billion and $1.4 trillion. This was not loan forgiveness, as Biden touted, but rather transferring this debt to taxpayers as a whole.
After SCOTUS shot down Biden's initial plan, Biden started to piecemeal it. He sought loopholes in various legislation and rules that would allow him to offer loan forgiveness in smaller chunks. Numerous states filed suit to block any aspect of the SAVE plan from being put into play in their respective states. One state was Missouri, where Biden just took a direct blow.
A federal appeals court in Missouri blocked any aspect of SAVE from being activated while the cases were being litigated in the lower courts. It being election season, the Biden administration had asked the Supreme Court for emergency relief, but the quest failed. Unfortunately for Biden, the request landed on the desk of Justice Brett Kavanaugh, a Trump appointee, so he has no chance of the request being approved.
After Kavanaugh denied the request on Wednesday, the Biden administration responded, stating:
"Our Administration will continue to aggressively defend the SAVE Plan – which has helped over 8 million borrowers access lower monthly payments, including 4.5 million borrowers who have had a zero dollar payment each month.
"And, we won't stop fighting against Republican elected officials' efforts to raise costs on millions of their constituents' student loan payments."
Missouri Attorney General Andrew Bailey called the decision a "huge win" for all Americans, stating:
"This is the second time the Supreme Court has sided with my office against one of Joe Biden and Kamala Harris' unlawful student loan cancellation schemes.
"This court order is a stark reminder to the Biden-Harris Administration that Congress did not grant them the authority to saddle working Americans with $500 billion in someone else's Ivy League debt."
I have never supported this forgiveness plan, and I think it is a complete and utter joke that this administration is buying votes with our tax dollars. All these people took out these loans, knowing they would have to repay them. This is their responsibility, not that of the American taxpayer. If you want to do something to address the cost of education, start hammering these schools that have tuition costs bordering on six figures. Or, here is a crazy idea: have the kids go to community college instead of creating massive debt by going to schools they cannot afford.
