Joe Biden · Democratic · Major Decision
Student Loan Forgiveness (Struck Down)
Aug 24, 2022
Joe BidenTrade & EconomyMajor DecisionTerm (2021–25)
📜 View the official record on federalregister.gov
What happened
Announced cancellation of up to $10,000 in federal student debt ($20,000 for Pell recipients) for borrowers under income limits — about $430B for ~20 million people.
How it happened
Executive action under the HEROES Act; the Supreme Court struck it down 6-3 in June 2023 (Biden v. Nebraska).
Documented impact
Negative impactsubstantiated
Ruled unlawful by the Supreme Court.
The 6-3 majority held the HEROES Act didn't authorize mass cancellation; the plan never took effect, though Biden later forgave debt through other programs.
Positive impactcontested
Aimed to relieve borrowers; popular with under-40s.
Supporters said it would have erased debt for ~20 million; critics called it costly and unfair to non-borrowers.
Public opinion
📊 Public opinion
Cancelling up to $10,000 in student debt
Support53%
Oppose41%
Support was higher among younger adults and Democrats; opposition centered on fairness and cost.
Sources
Every claim above links to its source. Primary record and cited reporting: