Student-Loan Forgiveness Risks Losing a Rationale

“The Biden administration’s decision to end the Covid-19 national emergency declaration could undermine a central justification for its student-debt forgiveness plan as the Supreme Court prepares to decide the fate of the program,” the Wall Street Journal reports.

“Mr. Biden outlined a plan in August to cancel up to $20,000 in federal student loan debt for borrowers making under $125,000 a year. Unable to pass the plan in Congress, the White House relied on expanded executive powers tied to the emergency declaration to enact the plan, and Mr. Biden said his intent was to ‘address the financial harms of the pandemic.'”