The recent decision by the U.S. Supreme Court to strike down President Joe Biden’s plan to forgive up to $20,000 in student loan debt highlights the limitations of executive power. In a 6-3 ruling, the court’s majority stated that the 2003 HEROES Act does not grant Mr. Biden the authority to erase student debt. While some may argue that the ends justify the means, our editorial board has consistently opposed executive overreach, and therefore, we accept the court’s reasonable decision.
It is worth noting that the skepticism towards this move extends beyond court conservatives. Former House Speaker Nancy Pelosi, for instance, emphasized that debt forgiveness must be an act of Congress, not the President. Thus, the responsibility falls on Congress to address this issue, as the Supreme Court’s decision means that millions of Americans who were relying on debt relief will continue to struggle with their financial burdens.
We recognize that Mr. Biden’s proposal faces significant challenges in a Republican-controlled House that views it as favoring a relatively affluent Democratic constituency. Nevertheless, this opposition should not hinder the President and lawmakers from pursuing a more modest plan. Surveys indicate public support for college debt forgiveness, especially if the relief is capped at around $10,000.
Even a less ambitious plan would bring clear benefits. Targeted debt relief for middle- and low-income borrowers would provide an immediate boost to the economy, giving financially burdened households more disposable income. Moreover, such relief is a moral obligation, considering that many borrowers had no choice but to navigate a college affordability crisis beyond their control.
Addressing the soaring costs of higher education is the larger issue at hand, which Congress has largely neglected for decades. This requires holding lenders and schools accountable for the debts they impose on students and providing borrowers with accurate information about the consequences of borrowing and their expected post-college earnings.
When Congress fails to find solutions to pressing problems, it becomes increasingly tempting for presidents to intervene through executive action. However, the Supreme Court’s decision serves as a reminder that our system of government should not rely on such measures alone. Congress must step up and take action to fix the flaws in our higher education system that are negatively impacting countless students and borrowers. It’s time for Congress to get to work.
