A COVID-19 emergency excuse is even less persuasive today than it was when Pelosi last year said Biden doesn't have the authority to cancel the loans.
This will be stopped by the courts, same as Biden's illegal vaccine mandate for the private sector was stopped.
Still waiting, however, for the courts to reverse the illegal deprivation of the former president of access to his own papers.
So don't hold your breath.
This out of control and senile old man Joe Biden should be impeached and removed from office.
US Department of Education, Office of the General Counsel, January 12, 2021, here:
All federal student loan programs administered by the Department are funded through annual Congressional appropriations drawn from the Treasury. These appropriations are conditioned on the Department’s faithful execution of the laws authorizing that loans be made available to eligible borrowers and then repaid or collected. See 20 U.S.C. §§ 1077a, 1078, 1078-3, 1078-6, 1078-7, 1080, 1080a, 1082, 1083, 1085, 1087e, 1087-1, 1087gg, 1091b, 1092b, 1092c, 1095a, 1098e. Although Congress could enact legislation authorizing the Department to provide blanket or mass cancellation, compromise, discharge, or forgiveness of student loan principal balances, and/or to materially modify repayment amounts or terms, it has not done so. See 20 U.S.C. §§ 1077-10 – 1077-12, 1087e(f), 1087e(h), 1087ee, 1091b, 1098d. Rather, Congress has explicitly authorized cancellation, compromise, discharge, or forgiveness, and/or material modifications to repayment amounts or terms only in very limited circumstances. See, e.g., 20 U.S.C. §§ 1087e(f), 1087e(h), 1094(b)(3), 1098aa, et seq. ...
Title IV’s plain text and statutory scheme, and controlling interpretative canons, compel us to conclude Congress appropriated funds for student loans with the expectation that such loans would be repaid except in very specific circumstances.
