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SCOTUS: Student Loan Settlement is legal [1]

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Date: 2023-04-14  

Going to need a bigger schadenfreude

In case you missed it, yesterday afternoon SCOTUS actually did something right. (Sweet v. Cardona)

NPR, YAHOO, REUTERS: Supreme Court leaves student loan settlement in place

While Trump was creatively answering questions in NYC Thursday, the Supreme Court decided to not block the November 2022 settlement regarding applications for canceling 200,000 student loans at 151 for-profit colleges.

Three institutions — Everglades College Inc., Lincoln Educational Services Corp., and American National University Inc. — had asked the high court to step in and prevent the settlement from going forward because of what they said would be "reputational harm." They also maintained that the secretary of education did not have the authority to settle claims by providing "student loan cancellations and refunds."

Those three for-profit schools (Everglades, Lincoln, American National) account for 3,500 of the 200,000 loans. Their hands aren’t clean:

The schools have been accused of boosting enrollment through aggressive sales tactics as well as misrepresentations about the quality of their academic offerings, graduates' career prospects and networking opportunities, according to Eileen Connor, director of litigation at the Project on Predatory Student Lending, a group that represents borrowers involved in the settlement.

There’s a lot more still to be done, though:

This decision is separate from Biden's broad plan to cancel up to $20,000 in student debt [each, totaling $430 billion] for [about 40 million] federal borrowers. That plan was paused in November due to two conservative-backed lawsuits seeking to permanently block the relief, and the Supreme Court heard oral arguments for the cases in February. It's expected to issue a final decision on the legality of the broad debt-relief plan by June.

Tiny bits of progress are being made. ($6 Billion in this case, vs $430 Billion pending.)

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[1] Url: https://www.dailykos.com/stories/2023/4/14/2163918/-SCOTUS-Student-Loan-Forgiveness-is-legal

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