Pelosi Once Admitted That President Doesn’t Have Authority To Cancel Student Loans

Pelosi Once Admitted That President Doesn't Have Authority To Cancel Student Loans

OOPS! – Nancy Pelosi’s Past Comes Back to Haunt Her – True Colors Exposed!

( – The Democratic-led spending spree in Washington, DC, continues. On August 24, President Joe Biden announced he forgave $300 billion in federal student loans. Biden said those who qualified for Pell Grants would be eligible for $20,000 in forgiveness. Those who didn’t receive the low-income grant would receive $10,000 taken off their balance. The catch is that individuals must make less than $125,000 annually. For months, some Constitutional experts have expressed concern that the president was on shaky ground. Even House Speaker Nancy Pelosi (D-CA) recently noted he couldn’t forgive the loans.

In July 2021, Pelosi told reporters that Biden didn’t have the authority to forgive student debt unilaterally. She argued such a move could be illegal and that any forgiveness might need to be an act of Congress. She stated he could postpone or delay payments, but he couldn’t wipe the debts off their credit reports. Additionally, the speaker emphasized that voters might be furious, with many likely questioning the fairness of such a bold move.

To justify the plan, the Justice Department told the president he could use the HEROES Act of 2003 to give “sweeping authority” to reduce or eliminate college debt. Still, it’s highly debatable. Congress used the law to expressly authorize student loan forgiveness for military personnel involved in wartime service.

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