The Supreme Court has ruled against Joe Biden’s student loan forgiveness plan, which would have allowed eligible candidates to cancel up to $20,000 in debt and would have cost the U.S. over $400 billion.

In August of last year, the Biden administration unveiled an executive order to cancel up to $20,000 in student debt for individuals making less than $125,000 a year. However, the opposition argued that the executive branch did not have the power to authorize such a program.

On Friday, the Supreme Court ruled that the Biden regime had overstepped its authority to try and forgive student loan debts for about 26 million Americans. This 6-3 decision squashed Biden’s campaign promise to deliver student debt relief.

In the Supreme Court majority ruling, Chief Justice John Roberts said that the Biden administration created a “novel” and “fundamentally different” loan forgiveness program than the HEROES Act was meant to.

“The Secretary’s plan canceled roughly $430 billion of federal student loan balances, completely erasing the debts of 20 million borrowers and lowering the median amount owed by the other 23 million from $29,400 to $13,600,” wrote Roberts. “Six States sued, arguing that the HEROES Act does not authorize the loan cancellation plan. We agree.”

Roberts wrote that the Court’s precedent “requires that Congress speak clearly before a department secretary can unilaterally alter large sections of the American economy.”

Also included in the ruling was a quotation from former Speaker of the House Nancy Pelosi who had made it very clear that the President of the United States did NOT have the authority to forgive student debt.

Pelosi was quoted saying,

“People think that the President of the United States has the power for debt forgiveness. He does not. He can postpone. He can delay. But he does not have that power. That has to be an act of Congress.”

Sean Davis, the CEO and Co-Founder of The Federalist tweeted screenshots of the ruling:

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