Staff Reports
The Supreme Court recently dealt a blow to the Biden administration by firmly refusing to reinstate its income-driven student loan repayment program. In what can only be described as a relief for taxpayers everywhere, the high court dismissed the administration’s request to lift a pause imposed by a federal appeals court. The Saving on a Valuable Education (SAVE) plan, which was touted as a means to reduce monthly payments based on income and expedite loan forgiveness, has faced a robust challenge from a coalition of states known for their conservative values.
The court’s order pointedly indicates that it expects the Court of Appeals to move quickly in rendering its decision. One cannot help but see this as a hint that the justices are not keen on letting the Biden administration drag its feet while planning its next grand expansion of government spending. With the Supreme Court’s decision, the relentless march toward a massive trial of taxpayer-funded student loan “forgiveness” has hit yet another roadblock.
#BREAKING: The Supreme Court won't reinstate President Biden's SAVE student loan repayment plan, which the Eighth Circuit has temporarily blocked. The circuit court is set to rule on the administration's authority to create the plan soon so no action needed, #SCOTUS says. pic.twitter.com/etW01WsCk5
— Katie Buehler (@bykatiebuehler) August 28, 2024
The Biden team insisted that the halting of this program brings turmoil for millions of borrowers and wreaks havoc on carefully planned changes. Sounds a bit melodramatic, doesn’t it? Meanwhile, Republican Missouri Attorney General Andrew Bailey celebrated the ruling as a notable win for working Americans who would rather not be saddled with the financial burden of yet another federal bailout for those who chose to attend overpriced institutions. It’s hard to fathom why the average hard-working American should foot the bill for higher education choices made by others, especially when many are struggling to make ends meet.
This isn’t the first time the Supreme Court opposed the Biden administration’s higher education aspirations. Back in June 2023, it knocked down another scheme that aimed to forgive student loans for around 40 million Americans using executive powers, which must have been a real surprise for an administration so prone to overstepping its authority. The latest SAVE plan, which could potentially cost taxpayers a staggering $475 billion over the next decade, is just another example of financial wizardry that seems designed to baffle rather than assist.
Missed in the fray is the fact that just ten days after the Supreme Court struck down Biden’s previous student loan plan, the federal government announced yet another scheme that sought to cancel a more substantial amount of student loan debt. This is indicative of an administration that seems undeterred by cost or the long-term fiscal consequences of such decisions. In a time when fiscal responsibility has never been more critical, it seems the Biden administration favors a playground approach to taxpayer money, ignoring the lasting implications of these decisions. With every passing day, it becomes increasingly clear that conservative states are standing up for their citizens against what turns out to be an escalating pattern of financial misadventures from Washington.
