The left is pushing hard for this behind the scenes and the Biden administration knows how angry they will be if he doesn’t deliver.
The College Fix reports:
Biden’s new billion-dollar student loan cancellation plan faces hurdles, criticsAs President Joe Biden’s latest proposal to cancel billions of dollars in student loan debt winds its way through the administrative process, some cheer the plan while others pan it as just another attempt at circumventing Congress.The proposal has become a major point of contention between proponents who see it as a lifeline to struggling students and critics who view it as an overreach of executive power and a financial pitfall.Steve Israel, a Cornell University professor of government and a former Democratic Representative from New York, said Biden’s new plan to use the federal rulemaking process will allow it to be more successful.“I’m pleased that the president has found a constitutional way to assert its powers in this regard,” Israel said in an email to The College Fix.On June 30, the Supreme Court rejected Biden’s first attempt at student loan forgiveness, arguing the $430 billion bailout of debt held by 40 million Americans was not constitutional under the HEROES Act, calling it an overreach of executive authority. The act is only meant for times of emergency.Within hours of the Supreme Court defeat, the Biden administration announced a new attempt at student loan cancellation, this time using the Higher Education Act of 1965. The act gives the Education Department the authority to “enforce, pay, compromise, waive, or release any right, title, claim, lien, or demand” related to federal student debt.The act requires officials to go through a complex process called negotiated rulemaking, which could delay the arrival of widespread student-debt relief. Given the procedural complexities and likely legal battles, student loan cancellation is expected to remain a hot issue heading into the 2024 campaign season.Richard Bensel, a professor of American politics at Cornell University, said he believes Biden’s new proposal will face lawsuits.
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