And who gave any president that power?
A lawsuit will happen. But this won’t begin until after midterms when lawsuits can begin. Democrats are evil but know how to get voters. They’ll be pissed when a judge stops this but the anger will be on the judge and not the president. Very clever.
Joe Biden will tell you that congress did back in 2003 with the HEROES Act.
Of course, it was only supposed to provide relief on student loans for those who enlisted in the military after 9/11 but I guess there's some fine print in there that allows it to apply to everyone during a national emergency (Covid being today's national emergency).
I wish my recruiter told me about this act. I enlisted in 2003 and, like a chump, paid back all of my student loans.
Biden used the HEROES Act of 2003 to justify this. It states the Secretary of Education can modify (perhaps cancel?) student loan debt in times of “war or national emergency.”
It’s the same law Trump used to start the pause on student loan payments, and the pause on interest, which has been in place since 2020.
Secretary DeVos’ OGC prepared a memo arguing the HEROES Act didn’t support outright cancellation, but Secretary Cardona’s OGC just prepared a memo arguing the opposite.