Conservative Supreme Court justices found that Biden’s plan would hurt Missouri’s finances, and that the president didn’t have the power to cancel so much debt.
The six GOP-led states — Arkansas, Iowa, Kansas, Missouri, Nebraska and South Carolina — that were successful in getting Biden's plan nixed by the justices had argued that the policy would lead to a loss of profits for the companies in their states that service federal student loans., wrote that MOHELA, or the Missouri Higher Education Loan Authority, would lose around $44 million a year in fees it earns from servicing federal student loans after Biden's forgiveness.
Legal experts and consumer advocates were skeptical that Biden's plan would reduce MOHELA's bottom line. They pointed out that the lender's revenue was actually
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Rep. Ayanna Pressley on student loans, the Supreme Court and Biden's reelection - 'The Takeout'President Biden must find a way to deliver student loan debt forgiveness or suffer political consequences from Democratic coalitions that pressed the White House on this issue, Massachusetts Democratic Rep. Ayanna Pressley says.
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Illinois Supreme Court to rule on law ending cash bail next weekCritics of the current cash bail system say it unfairly punishes poor defendants, but critics of ending cash bail say the violates the constitutional separation of powers.
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Hollywood Diversity Initiatives May Be Challenged After Supreme Court Affirmative Action RulingThe Justices' decision to strike down race-conscious admissions could have a chilling effect and cause elevated scrutiny around diversity, equity and inclusion initiatives, experts say.
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Supreme Court asked if 'detrimental' NYC rent control law violates takings clauseThe Supreme Court has been tapped to take up a petition over a case challenging New York City's rent stabilization law, arguing the recently enacted measure has a 'detrimental effect on owners and tenants alike.'
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Twenty states object as Delaware pushes gun ban despite Supreme Court Bruen rulingA Delaware law banning 'assault weapons' and standard-capacity magazines that was signed last year, just days after the Supreme Court issued a Second Amendment ruling, is now being challenged by 20 states led by MTAGKnudsen.
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