[ad_1]
A U.S. judge temporarily blocked Democratic President Joe Biden’s administration from implementing a plan to forgive student loan debt held by millions of Americans. The ruling by St. Louis-based U.S. District Judge Matthew Schelp handed a victory to six Republican state attorneys general who challenged Biden’s plan. The judge issued a preliminary injunction blocking the debt relief plan pending the outcome of the state’s lawsuit, after the litigation was transferred from Georgia. The state attorneys general accused the U.S. Department of Education of overreaching its authority by proposing a regulation that should be addressed through legislation. The proposed plan would forgive $73 billion in student loan debt held by an estimated 27.6 million borrowers. Biden campaigned on a promise to bring debt relief to Americans who turned to federal student loans for their education. The ruling was called a win for the American people by Missouri Attorney General Andrew Bailey. The Department of Education did not immediately respond to a request for comment. Under the proposed regulation, debt relief would be granted to borrowers in specific circumstances. The rule has not yet been finalized, and the U.S. Justice Department argued there was no final agency action for a judge to review. The White House has called the current student loan system broken and supports debt relief to ensure borrowers are not financially burdened by their education. Republicans argue that Biden’s approach amounts to an overreach of authority and unfairly benefits college-educated borrowers.

[ad_2]
SOURCE