The Supreme Court is expected to issue a decision soon on whether President Joe Biden has the authority to uphold student loan forgiveness, including $10,000 for all borrowers and $20,000 for those who had Pell Grants.
Strike Down or Uphold Student Loan Forgiveness?
While many believe that the Court is likely to strike down the loan forgiveness, recent developments suggest that there is a possibility of the Court ruling will uphold student loan forgiveness, a published news article reported.
In a recent ruling, the Supreme Court decided the case of Haaland v. Brackeen, where Texas challenged the federal Indian Child Welfare Act. The majority, in a 7-2 decision, stated that Texas lacked standing to sue on behalf of its citizens for equal protection.
They also emphasized that a direct pocketbook injury is not sufficient to establish standing unless it can be traced back to unlawful conduct.
Those who responsibly repaid their loans and missed out on forgiveness may remember this when voting in 2024, particularly if a reasonable Republican candidate is running.
Conversely, if loan forgiveness is struck down, it is unlikely to cause Democrat-leaning voters to switch parties.
When Will SC Uphold Student Loan Forgiveness?
The Supreme Court has yet to rule on the legality of affirmative action, which allows universities to consider race in admissions decisions.
Some commentators speculate that the conservative majority on the Court may either strike down affirmative action or impose further limitations on its application in university admissions.
To potentially address tensions surrounding these issues, the Court could issue simultaneous decisions upholding loan forgiveness while striking down affirmative action.
Hardcore party loyalists are likely to vote based on party lines regardless of the Court’s decision. However, for some voters, the outcome of this issue may significantly influence their choices.
In conclusion, the Supreme Court holds the key to potential debt relief for borrowers, as its decision could lead to a debt jubilee. However, future instances of loan forgiveness would ultimately require explicit congressional approval.