Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Investing

Cato Scholars React to Supreme Court Student Loan Decision

by June 30, 2023
June 30, 2023

Thomas A. Berry and Neal McCluskey

Today the Supreme Court issued a decision striking down President Biden’s unprecedented student‐​loan forgiveness program.

Statement from Research Fellow in Constitutional Studies Thomas Berry:

“The Court’s decision today is a victory for the separation of powers and the rule of law. The Court correctly held that the power to ‘waive or modify’ a provision of law is not a power to draft an entirely new law. The Biden Administration attempted to use the ‘waive or modify’ authority in the HEROES Act to create a new $430 billion debt‐​cancellation program, but creating a program of such breadth and scope is a job for Congress, not the executive branch. The Court correctly held that when Congress gave the executive branch the power to ‘waive or modify’ certain provisions of law, it did not grant the power to make basic and fundamental changes that transform federal student‐​loan policy. The Framers designed our system so that such fundamental questions would be debated and decided in Congress, and that is where such decisions must be made.”

Statement from Director of the Center for Educational Freedom Neal McCluskey:

“This is great news for future students and taxpayers. For future students, because allowing sweeping, presidentially decreed student debt cancellation would have signaled to all future borrowers to take on more debt than they otherwise would have—much will just be cancelled. And that would enable colleges to raise tuition at even faster rates. It’s great news for taxpayers because much debt that was supposed to be repaid to the federal government actually will be. And remember, the average person with a bachelor’s degree will make roughly $1 million more over their lifetime than the average person with just a high school diploma. Graduate degree holders—who hold a disproportionate amount of student debt—will earn even more. Cancellation would have largely helped economic winners.” 

0
FacebookTwitterGoogle +Pinterest
previous post
Justice Thomas’s Individualist Concurrence
next post
The Second Half Equities Superbowl

You may also like

Highlights from the Supreme Court’s First Week Back

October 11, 2023

Congressional Oversight: Document Demands Edition

June 8, 2023

Don’t Give Big Businesses Immunity from Litigation

June 27, 2025

David Boaz: A Life Well Lived

June 7, 2024

FTC Gets 2/3 of the Infant Formula Crisis...

March 25, 2024

US Funding of the United Nations

March 19, 2025

The Growing Popularity of DIY Prescription Drugs

September 17, 2024

Powell’s CBDC Puzzle: Deciphering Where the Fed Stands

March 27, 2024

The Black Market Beckons: Biden’s Last-Minute Move on...

January 7, 2025

“Housing First” Homeless Policy Gets a Critical Look

June 30, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Case v. Montana Brief: Limit Loopholes to the Fourth Amendment

      August 7, 2025
    • Trump opens $9tn US retirement market to crypto in landmark executive order

      August 7, 2025
    • What Should We Learn from China’s Nuclear Construction Costs?

      August 7, 2025
    • Closing the Primary Care Gap

      August 7, 2025
    • Veteran Biden insider Anita Dunn appears in House Oversight autopen probe

      August 7, 2025
    • NDAs banning harassment and discrimination disclosures to be void under new UK workplace reforms

      August 7, 2025

    Categories

    • Business (8,704)
    • Investing (2,182)
    • Politics (16,331)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved