Loan

President Biden has tried to bypass gridlock in Congress by using executive power. The Supreme Court is skeptical, and could curb that authority.

Biden can go in responding to the ripples of the pandemic. In June, though, the court ruled that the administration In the student loan case on Tuesday, a majority of the justices appeared ready to place another limitation on how far Mr. In that 2020 case, it was liberals who urged the Supreme Court to prevent Mr. “The case reminds me of the one we had a few years ago under a different administration where the administration tried acting on its own to cancel the Dreamers program, and we blocked that effort,” he said. Biden’s administration argued that Congress had already given the secretary of education the authority to forgive student debt. It was not the first time the court has suggested that Mr. Cardona wrote in the email, “we are fighting to deliver relief to borrowers who need support as they get back on their feet after the economic crisis caused by the pandemic.” Mr. I’m not confident about the outcome of the decision yet.” The ruling could have other broad political implications, forcing Mr. [signaled Tuesday that they are deeply skeptical](https://www.nytimes.com/2023/02/28/us/politics/student-loan-supreme-court-biden.html) that Mr.

On February 28^th, the Supreme Court heard arguments in two cases about the Biden administration's proposed student loan forgiveness program — Biden v.

The Biden administration has announced plans for a [new income-driven repayment plan](https://www.ed.gov/news/press-releases/new-proposed-regulations-would-transform-income-driven-repayment-cutting-undergraduate-loan-payments-half-and-preventing-unpaid-interest-accumulation) that would result in substantially more borrowers having [$0 monthly payments](https://www.brookings.edu/opinions/bidens-income-driven-repayment-plan-would-turn-student-loans-into-untargeted-grants/), but this plan is still in development, and it is unclear if it will be in place when the student loan payment pause ends. The Department of Justice argued that this restart of payments is itself a motivating act for loan forgiveness, as the restart of payments after a substantial pause would cause harm to a significant share of borrowers. [Fresh Start](https://studentaid.gov/announcements-events/default-fresh-start)” initiative in April 2022 to move borrowers who were in default prior to the pandemic into good standing — though borrowers must apply for the program. A key provision of the HEROES Act is that waivers or modification to student loan terms are authorized if they are necessary to ensure individuals “are not placed in a worse position financially” as a result of the national emergency. While the Court may have authority to rule on legal questions of standing and executive interpretation of Congressional acts, other justices argued the economic impact of a policy should not factor in those legal decisions. [Black borrowers](https://edtrust.org/blackstudentdebthub/) at every level of education are more likely to have student loans for the same education, and [the black-white gap in student loan debt](https://www.brookings.edu/research/black-white-disparity-in-student-loan-debt-more-than-triples-after-graduation/) more than triples four-years after students earn bachelor’s degrees. Estimates for the program are high — potentially up to $400 billion over ten years — and the high cost of the program featured heavily in lines of inquiry from Justice Clarence Thomas during Court arguments on Tuesday about whether the Secretary overstepped authority and the policy represented more than a “modification.” Here, though, lines of oral arguments centered on the distinction between a legal question and a policy debate. Drawing on the Higher Education Relief Opportunities for Students (HEROES) Act of 2003 which has provided justification for the ongoing student loan payment pause, the Department argues they have the authority to forgive student loans. The Department of Justice presented the case for the Secretary of Education having the authority to forgive student loans. MOHELA is set up as a third-party from the state and has an obligation to contribute to Missouri state university funds, and petitioners argue that if MOHELA has fewer customers due to loan forgiveness, they will be unable to make those obligations (even though they have not made those payments in about 15 years). Nonetheless, there has been [ongoing debate](https://www.brookings.edu/blog/brown-center-chalkboard/2022/09/20/democrats-high-wire-act-on-student-loan-forgiveness/) about who benefits and the economic implications of widespread forgiveness. The cases focused on two key questions – do the petitioners meet the constitutional requirement for “standing,” or injury, from the policy, and does the Department of Education have the legal authority to forgive student loan debt?

Whatever narrow path the Biden administration has to salvaging its student loan forgiveness plan may depend on the Supreme Court ruling GOP-led states ...

“Conversely, if you really want that contract, you may not want to anger or upset the person who’s deciding whether or not to give it to you.” The issue of standing seemed to be an even greater hurdle for two student borrowers to clear in a second case against Biden’s plan argued Tuesday. You may need to shift your business if you don’t win that contract,” she said. Justice Clarence Thomas asked if the court has ever held that notice and comment provisions of the Administrative Procedure Act are enough for standing. They’re asking the court to strike down Biden’s plan, which Sotomayor said didn’t make sense. Barrett wondered why the state didn’t force MOHELA to challenge the program. Relaxing standing requirements makes “standing seem a lawyer’s game, rather than a fundamental limitation ensuring that courts function as courts and not intrude on the politically accountable branches,” he said in a dissent to the Supreme Court’s 2007 ruling, Massachusetts v. “The focal point was definitely on MOHELA.” A divided court there said states had “special solicitude” to sue the federal government over climate change rules. Solicitor General Elizabeth Prelogar, however, suggested there wouldn’t be a standing issue if MOHELA had brought the suit itself. The court’s standing doctrine, which generally prohibits a third party from suing for injuries to another party, could be critical for the forgiveness plan’s survival. MOHELA is a state-created corporation that services student loan debt.

Pilipinas Shell Petroleum Corp. (PSPC) has secured a P9-billion loan with a five-year term from the Bank of the Philippines Islands (BPI) and Metropolitan .

It is also set to announce this year details of the planned development of a fifth fuel import terminal in the country. In a disclosure to the Philippine Stock Exchange yesterday, PSPC said the amount is evenly split between the two banks and will be used to reduce its exposure to short-term volatilities in the market and benefit from the low interest rate for its cash requirements. (PSPC) has secured a P9-billion loan with a five-year term from the Bank of the Philippines Islands (BPI) and Metropolitan Bank & Trust Co.

Deadly train collision in Greece; Supreme Court justices skeptical of Biden's student loan forgiveness plan; new diversity record for S&P 500 companies; ...

[highest echelon of business leadership](https://www.forbes.com/sites/jaredcouncil/2023/03/01/record-number-of-black-ceos-will-run-sp-500-companies/?sh=48776c8f2f62). [working at a Capitol Hill restaurant](https://www.forbes.com/sites/saradorn/2023/02/28/marjorie-taylor-greene-says-she-was-attacked-in-a-restaurant/?sh=3e1e0ff1cbe3) with her staff. [Register](https://www.forbes.com/connect/event/2023-equal-pay-day/)for the 2023 Forbes Equal Pay Day Forum, an in-person event where business leaders will explore how to close systemic gaps. Join us as top CIOs discuss fostering resiliency in their organizations to navigate current challenges like the pandemic, new supply chains, labor shortages, a crypto crash and more. - Coming up: The Forbes Under 30 Summit Africa is coming back for a second time to the world’s greatest growth market. Last week, a day before the anniversary of Russia’s invasion of Ukraine, she [called for an audit](https://twitter.com/RepMTG/status/1628942404249341954?lang=en) on U.S. [Sign up here](https://www.forbes.com/newsletter/daily-dozen/#115c5a145157) to get the Forbes Daily morning newsletter straight to your inbox. WHY IT MATTERS While speeding up back office tasks may not seem as exciting as asking a chatbot to complete a homework assignment or write a love letter, even incremental improvements may trickle into the exam room. In 2019, an estimated $265 billion went to “wasteful” expenditures necessitated by antiquated technology that undergirds the U.S. Not only did ChatGPT produce a viable letter (that required “minimal editing”), most of the appeal letters were approved by insurers. But generative AI in the doctor's office doesn't mean a robot will check out your odd rash or nudge you to exercise more. Close proximity to customers could mean a 30% cost savings on ice, with a 90% reduction in the carbon footprint for its transportation.

Supreme Court Justices Brett Kavanaugh and Amy Coney Barrett lobbed tough questions at both sides during the student loan forgiveness arguments.

Missouri sued, in part, [based on the potential loss of revenue](https://www.usatoday.com/story/news/education/2023/02/27/student-loan-forgiveness-supreme-court-what-to-know/11357502002/). [conservative states that challenged](https://www.usatoday.com/story/news/education/2023/01/27/student-loan-forgiveness-biden-debt-relief/11128628002/) the Biden plan argued, in part, that a state-created entity known as MOHELA that services student loans would lose revenue if the debt was forgiven. "As Kavanaugh noted more than once, Congress used an 'extremely broad word' when it gave the education secretary the authority to 'waive' provisions related to student debt," said Smita Ghosh, appellate counsel Constitutional Accountability Center. Why, Kavanaugh asked the states' lawyer, didn't "waive" authorize Biden’s plan? "I would not be surprised if she voted to find that no one has standing in either case," said Thomas Berry, editor-in-chief of the Cato Supreme Court Review. Some of its "biggest mistakes," he then added, were when it didn't. But they also posed unexpected questions more favorable to the administration – and that makes both jurists worth watching when the [court hands down its decision](https://www.usatoday.com/story/news/politics/2022/09/30/supreme-courts-tracker-list-of-cases-term/8060925001/) later this year. "Barrett, along with the three liberal justices, seemed deeply skeptical that any of the parties have standing," said Adam Minsky, an attorney, author and expert on student debt. Based on the arguments Tuesday, it's not clear where that fifth vote would come from. "If MOHELA is really an arm of the state...all of this would be a lot easier," Barrett said. - Barrett posed a number of questions suggesting she could side with the court's three-member liberal wing on standing, that is whether the plaintiffs were actually injured by the plan. Drafts of those opinions circulate among the justices, a process that usually takes

The justices heard arguments about the president's college debt forgiveness plan. Conservatives seem poised to strike it down.

[recent](https://www.washingtonpost.com/opinions/2021/10/29/daniel-ortega-rosario-murillo-nicaragua-contempt-human-rights/?itid=cb_box_24L74E7UIJD7BE3N4D5SETUGA4_3) [editorials](https://www.washingtonpost.com/opinions/2021/08/05/democracy-is-under-attack-nicaragua/?itid=cb_box_24L74E7UIJD7BE3N4D5SETUGA4_4) [about](https://www.washingtonpost.com/opinions/2021/08/05/democracy-is-under-attack-nicaragua/?itid=cb_box_24L74E7UIJD7BE3N4D5SETUGA4_5)the situation in Nicaragua. [David Shipley](https://www.washingtonpost.com/people/david-shipley/?itid=lb_the-posts-view--about-the-editorial-board_2&itid=lb_the-posts-view--about-the-editorial-board_2); Deputy Opinion Editor [Karen Tumulty](https://www.washingtonpost.com/people/karen-tumulty/?itid=lb_the-posts-view--about-the-editorial-board_3&itid=lb_the-posts-view--about-the-editorial-board_3); Associate Opinion Editor [Stephen Stromberg](https://www.washingtonpost.com/people/stephen-stromberg/?itid=lb_the-posts-view--about-the-editorial-board_4&itid=lb_the-posts-view--about-the-editorial-board_4) (national politics and policy, legal affairs, energy, the environment, health care); [Lee Hockstader](https://www.washingtonpost.com/people/lee-hockstader/?itid=lb_the-posts-view--about-the-editorial-board_6&itid=lb_the-posts-view--about-the-editorial-board_5) (European affairs, based in Paris); [David E. Read a recent [editorial](https://www.washingtonpost.com/opinions/2022/09/18/greenland-antarctica-ice-climate-change-prepare/?itid=cb_box_24L74E7UIJD7BE3N4D5SETUGA4_10)on how to cope with rising seas, and [another](https://www.washingtonpost.com/opinions/2022/09/03/climate-change-law-what-next/?itid=cb_box_24L74E7UIJD7BE3N4D5SETUGA4_11)on the policies needed to fight climate change. In this dispute, the proper answer is for Congress to revisit the Heroes Act, clarifying it does not permit presidents to offer such poorly targeted loan forgiveness. The straightforward reading of the law’s purpose is that it permits aid targeted at those who would struggle to repay their loans as a direct result of a serious emergency. It is a core judicial principle that courts may only consider cases in which a party is harmed and objects to it. Some of Tuesday’s arguments revolved around MOHELA, a loan-servicing corporation created by the state of Missouri. Biden’s plan would offer $10,000 in loan forgiveness to borrowers making up to $125,000 a year, many of whom can afford to pay back the money they borrowed to obtain degrees that boost their earning power over a lifetime. There are limits that restrict when and how the court can exercise its authority — and this is one of the instances in which it should recognize those limits. Read our most recent [editorial](https://www.washingtonpost.com/opinions/2023/01/31/asylum-immigration-parallel-system-solutions/?itid=cb_box_24L74E7UIJD7BE3N4D5SETUGA4_2)on the U.S. [heard arguments](https://www.supremecourt.gov/oral_arguments/argument_transcripts/2022/22-506_22p3.pdf) Tuesday on a challenge to President Biden’s massive higher-education student loan forgiveness plan, which could impact the lives of at least 26 million Americans. The policy is expensive and ill-targeted, and made worse by the fact that Mr.

Pilipinas Shell Petroleum Corp. is borrowing P9 billion from two local banks for its cash requirements.

The LNG project is being revived in line with the company’s pursuit of clean energy projects and also to utilize existing utilities of Pilipinas Shell. Aside from continuing the expansion of its network of stations, Pilipinas Shell is also preparing for the development of its fifth medium range-capable import terminal. Pilipinas Shell said the loan would reduce the company’s exposure to short-term volatilities in the market as it benefits from the low interest rate for its cash requirements.

Readers respond to the Supreme Court hearing. Also: Israel's path; those who changed Georgia politics; transcending limits; mourning Spencer the dog.

As we read about Spencer, thousands of equally sweet souls, well behaved and adoptable, continue to be killed in shelters each year. Dowd does a disservice to those who have genuinely shaped Georgia politics in the last half century. record that would last for 43 years; and [Jim Abbott,](https://www.mlb.com/news/jim-abbott-no-hitter-streaming-on-mlb) who was born without a right hand, tossing a no-hitter as a New York Yankees pitcher. Many Georgia elected officials paved the way, including Mr. Senator Warnock is the “new face of Georgia politics.” Indeed, since Jimmy Carter was governor, Georgia has made slow but steady strides toward prosperity and social justice, as Atlanta has grown into a major multicultural American city. The undermining of the judiciary is a main mechanism for achieving their objectives. Netanyahu’s legacy therefore may ultimately be the dismantling of Israel’s democracy. The government might also partially match payments for those demonstrating a full year or two of reliability. I thus wonder whether there might be a third way out of this conundrum. It makes me wonder how the court’s Roe v. President Biden’s student loan forgiveness program does not eliminate college student loan debt. Why must obtaining a college degree require students to take out high-interest loans that often take many years to pay back and can cause economic hardship along with high levels of stress?

Chief Justice John Roberts pounded away on the price tag -- "about half a trillion dollars" -- for the Biden administration's student loan forgiveness ...

“And if they haven’t acted on it, then maybe that’s a good lesson to say for the president or the administrative bureaucracy that maybe that’s not something they should undertake on their own.” Last year, in the power plant emissions case, Justice Elena Kagan protested that the relatively recent “major questions” approach usurped the expertise of agencies. “Over the past three years, millions of Americans have struggled to pay rent, utilities, food, and many have been unable to pay their debts,” Prelogar said. “Loan forgiveness is a paradigmatic form of debt relief, and the secretary acted within the heartland of his authority and in line with the central purpose of the HEROES Act (of 2003) in providing that relief here. The lawsuits were brought by six Republican-led states and two borrowers who were ineligible for the full relief of up to $20,000 in individual loan forgiveness. Roberts was especially active in the center chair, asserting the court’s authority and his own, during a session that lasted three and a half hours.

The White House has maintained that President Joe Biden has the legal authority to create the student loan forgiveness plan.

solicitor general’s argument in front of the Supreme Court, calling it “really strong.” The Supreme Court held oral arguments in the student loan debt forgiveness cases on Tuesday. “But I’m not confident about the outcome of the decision yet.”

Pilipinas Shell Petroleum Corporation (Shell PH) has closed a P9-billion medium-term loan that will be used cushion the effects of market volatility.

Pilipinas Shell Petroleum Corporation (Shell PH) has closed a P9-billion medium-term loan that will be used cushion the effects of market volatility. Shell PH also said that that the amount of debt the company would take in would depends on cash inflows from operations and divestment proceeds and cash outflows in the form of capital investment, dividend payments and share repurchases. "Following a competitive tender process, Shell PH secured a five-year loan amounting to P9 billion evenly split with the Bank of the Philippines Islands (BPI) and Metrobank," the company said.

President Biden on Wednesday said he's not confident that the Supreme Court will decide to clear his student loan forgiveness plan, while the ...

The White House has pointed to the law repeatedly throughout the last six months because it gives the Education secretary the authority to “waive or modify” federal student financial assistance programs when deemed necessary in connection with a national emergency. You saw the solicitor general really give a strong argument yesterday in front of the highest court in the land. There’s a reason we took it to the Supreme Court,” Jean-Pierre added on Wednesday. And that’s our plan, and we believe in our legal authority to get that done and get that implemented,” press secretary Karine Jean-Pierre said on Wednesday. And, the White House this week has shied away from discussing any alternative or a “plan B” if the Supreme Court strikes it down. “I’m confident we’re on the right side of the law.

Pilipinas Shell Petroleum Corp. (PSPC) has secured a P9-billion loan from Bank of the Philippine Islands (BPI) and Metropolitan Bank and Trust Co ...

With this new project, PSPC had said it was eyeing 80 new mobility sites in Southern Mindanao by 2025. Earlier this year, PSPC signed a tripartite agreement with Shell Energy Philippines Inc. (PSPC) has secured a P9-billion loan from Bank of the Philippine Islands (BPI) and Metropolitan Bank and Trust Co (Metrobank).

While the fate of President Biden's student loan forgiveness plan is unknown, one thing is certain, industry insiders contend: The case puts a spotlight on ...

As a recovering political scientist and longtime college administrator, the fate of President Biden's student loan forgiveness program at the hands of the ...

But if the Court decides that textualism only counts when it benefits its preferred party, this would be an excellent alternative that would benefit millions of students and take the Court out of the picture. In the case of loan forgiveness, one would think that “standing” would be a tough nut to crack. The second is the “now what?” problem. The Department of Education is empowered to set interest rates on loans, and has changed them serially over decades; there’s no question about its ability to do that. The usual burden to bring a case to the Court is “standing.” That means being able to show that you were actually harmed in some way, and that the harm can be fixed via a Court decision. The previous administration declared COVID a national emergency, and the current administration has maintained that status. If we want to treat the different kinds of debt equally, then we need to make student loans dischargeable through bankruptcy. The Biden administration used the HEROES Act, which allows the Department of Education to waive repayment for people impacted by a national emergency. The administration is right on the letter of the law, but the spirit isn’t as clear. Most people, upon hearing a description of the HEROES Act, probably imagine something like an earthquake, a tornado, or an airborne toxic event. As a recovering political scientist and longtime college administrator, the fate of President Biden’s student loan forgiveness program at the hands of the Supreme Court is very much on my radar. So it may grant someone enough “standing” to move to the merits.

When will the Supreme Court rule on student loan forgiveness? Are payments still on pause? We answer top questions about President Biden's debt relief plan.

The Supreme Court heard opening arguments on student loan forgiveness. Worried borrowers can ask experts at The Washington Post their questions on March 3, ...

[here.](https://www.washingtonpost.com/live-chats/?itid=lb_reader-qas_8) [Ask Eugene Robinson your questions.](https://www.washingtonpost.com/people/eugene-robinson/?itid=lb_reader-qas_4) [Or join Jennifer Rubin on Fridays.](https://www.washingtonpost.com/people/jennifer-rubin/?itid=sf_https%3A-%2Fwashingtonpost.com%2Flive-chats&itid=lb_reader-qas_6) [Send Barry Svrluga your questions on the latest headlines in sports](https://www.washingtonpost.com/people/barry-svrluga/?itid=lb_reader-qas_7). Your question may be edited for accuracy and clarity. [Chat with restaurant critic Tom Sietsema.](https://www.washingtonpost.com/people/tom-sietsema/?itid=lb_reader-qas_2) Send us your question below.

ILex, a company based in Singapore that wants to offer a state of the art technology platform for the syndicated loan and private debt markets, ...

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Fenikso Ltd - Cayman Islands-based litigation asset company with an investment in oil & gas ...

Under current oil prices and production at Otakikpo the company expects to have repaid creditors, excluding Savannah, by the third quarter 2023." The next payment, from the February production, is scheduled for the end of March. Fenikso Ltd - Cayman Islands-based litigation asset company with an investment in oil & gas assets in Nigeria, previously known as Lekoil Ltd - Receives first funds under Lekoil & Gas Investments loan as part of the company's restructuring.

While the U.S. Supreme Court weighs the legal merits of the Biden administration's federal student loan forgiveness plan, borrowers might wonder what ...

Questions on fairness and the scope of the president's power emerged as the Supreme Court justices debated Biden's student loan forgiveness plan.

"If MOHELA is really an arm of the state...why didn't you just strong-arm MOHELA and say you've got to pursue this suit?" "Why didn't the state just make MOHELA come then?" Both accuse the president of [overstepping his authority](https://www.cnbc.com/2023/02/02/explaining-legal-challenges-to-bidens-student-loan-forgiveness-plan.html). [hear two](https://www.cnbc.com/2023/02/24/supreme-court-to-hear-these-cases-on-bidens-student-loan-forgiveness-.html) challenges against [ President Joe Biden's unprecedented plan](https://www.cnbc.com/2022/08/24/biden-expected-to-cancel-10000-in-federal-student-loan-debt-for-most-borrowers.html) to cancel up to $20,000 in student debt for tens of millions of Americans. "There's inherent unfairness in society because we're not a society of unlimited resources," Sotomayor said. One example is the "Why was it fair to the people who didn't get arguably comparable relief?" "There too, you could say, 'Well, that only benefits the specific enumerated affected individuals,' but it's Congress who defined those individuals, and the secretary acted properly here in giving them relief." "And so I think it's not surprising to see in response to this once-in-a-century pandemic." At an estimated cost of about [by the end of June](https://www.cnbc.com/2023/02/21/when-will-student-loan-payments-restart-what-borrowers-need-to-know.html). [outside the court](https://www.cnbc.com/2023/02/28/biden-student-loan-case-argued-at-supreme-court.html) in support of the president's plan, with signs bearing messages such as "Death to student debt" and "Student debt cancellation is legal."

Student loan payments are set to resume 60 days after the Supreme Court's decision on the Education Department's student loan relief plan that was set to ...

“I’m going to keep fighting with folks on the ground who want to make this happen,” Jalloh says. And credit card delinquency rates are also on the rise, showing how difficult things may become for Americans who are relying on loan forgiveness. Hernandez, who is eligible for $20,000 in forgiveness under the debt relief plan, would see her debt decrease to $2,000 if the loan-relief is implemented. “Just because the fire is not still burning, doesn’t mean that you don’t still have cleanup,” Yu tells TIME. “While opponents of this program would deny relief to tens of millions of working-and middle-class Americans, we are fighting to deliver relief to borrowers who need support as they get back on their feet after the economic crisis caused by the pandemic.” [TIME’s Women of the Year 2023](https://time.com/collection/women-of-the-year/?utm_source=roundup&utm_campaign=20230202) [TIME Turns 100](https://time.com/collection/a-century-of-impact/?utm_source=roundup&utm_campaign=20230202) “Even if the national emergency is over, there are still additional steps that we need to take to make sure that people can land on their feet.” Elevated inflation has led to increased car prices, [record high global food prices](https://www.npr.org/2023/01/07/1147660525/global-food-prices-2022-record-high#:~:text=Press-,Global%20food%20prices%20in%202022%20hit%20record%20high%20amid%20drought,Food%20and%20Agriculture%20Organization%20said.) and housing costs that while cooling is still high, in 2022. Many borrowers are notably concerned about the future. Forty million borrowers were expected to receive some relief. Some 16 million were approved for forgiveness, though legal challenges have stopped any of them from seeing their loan balances reduced. The restart of student loan payments would come at a time of high stress for many Americans.

Fitch Ratings-Frankfurt am Main-02 March 2023: Fitch Ratings has assigned Fortuna Consumer Loan ABS 2023-1 Designated Activity Company's class A to F no.

Several of the Court's conservative justices seem highly skeptical of Biden's authority to cancel millions of dollars of federal student loan debt via the ...

The protest was organized by the NAACP, an organization that has been one of the biggest advocates for student debt relief due to the impact the decision will have on Black students. Now that oral arguments have concluded, the Supreme Court justices will hold a private conference to cast tentative votes on the two challenges to Biden’s student loan forgiveness plan. The arguments in favor of student debt relief largely focused on whether or not the plaintiffs in the two cases have the legal standing to sue over the program. Justice Sotomayor made note of these high stakes and the practical implications of student debt relief during her remarks to Nebraska’s legal counsel. The Biden administration’s case relies heavily on the Heroes Act and whether or not the proposed student debt relief plan exceeds the scope of what the act is intended for. She was also sure to emphasize that Biden’s student debt relief plan is an emergency provision and a direct response to the financial fallout of the COVID-19 pandemic, countering the idea that this action is disproportionate to the harm experienced by borrowers. The Court’s liberal justices argued in favor of the program, stating that the COVID-19 pandemic and resulting national emergency gives the administration the right to employ the Heroes Act for student debt relief. This Supreme Court has a history of using the Major Questions Doctrine to strike down sweeping executive actions. The Court heard oral arguments in the two cases against student debt relief- Department of Education v. Several of the Court’s conservative justices seem highly skeptical of Biden’s authority to cancel millions of dollars of federal student loan debt via the Heroes Act. This week’s oral arguments highlighted several key questions in the legal battle over student debt relief. The Supreme Court had its first hearing on President Biden’s student debt relief plan on Tuesday.

The Supreme Court heard oral arguments on President Biden's plan to forgive up to $20000 of student debt for federal borrowers.

But if they do find standing for at least one of the plaintiffs, the justices would then examine whether the Secretary of Education has the authority to forgive student debt in this manner. JCNF is the "How can you have injury if you, the state, have immunized yourself from any liability or any injury that MOHELA can experience?" Justice Roberts highlighted the "half a trillion-dollar" cost on several occasions. Legal experts can comb through the arguments, evidence and relevant past decisions and still not know what's going to happen. Michael Connolly argued on behalf of the plaintiffs. [organization that filed suit on behalf of Brown](https://jcnf.org/fighting-against-government-overreach-in-the-biden-administrations-student-loan-bailout/) and the other plaintiff in that case. Do the plaintiffs have standing? Unfortunately, we probably won't know until June. Her organization has [NCLA supported the challengers](https://www.globenewswire.com/en/news-release/2023/02/03/2601661/0/en/NCLA-Amicus-Brief-Argues-States-Have-Standing-to-Challenge-Student-Loan-Debt-Cancellation-Plan.html) to Biden's debt forgiveness plan. Here's what to know.

With the federal infusion, Washington will operate five distinct programs under SSBCI 2.0: Micro and mall Business Loan Fund – Assists small businesses with ...

“The State Small Business Credit Initiative is helping to unlock the potential of entrepreneurs in underserved communities across the nation who may have otherwise never had the support needed to pursue their business ideas and ambitions.” This includes efforts to support small business growth and expand access to capital in communities across the country,” said Deputy Secretary Wally Adeyemo. Treasury has seen the value of our proposed programming for SSBCI 2.0,” said Chris Green, Commerce Assistant Director, leading the state’s Office of Economic Development and Competitiveness. Treasury Department](https://home.treasury.gov/news/press-releases/jy1316) to operate five capital access programs for small businesses. The new funding will be used to launch an updated version of the state’s highly successful Small Business Credit Initiative (SSBCI) program, which was completed in 2016. Five new programs to be offered through the State Small Business Credit Initiative (SSBCI)