Federal Court Asked to Block Biden's Student Loan Cancellation Plan

The new plan is based on a different principle, though it has a similar goal. It would accurately count the number of years that borrowers enrolled in income-driven repayment plans didn't get the debt forgiveness they were entitled to, as the payments that should have moved them toward becoming debt-free were not accounted for.

President Joe Biden announces new actions to protect borrowers after the U.S. Supreme Court struck down his student loan forgiveness plan, in the Roosevelt Room at the White House on June 30, 2023, in Washington, D.C. Two conservative groups filed a lawsuit in Michigan on Friday asking a federal court to block Biden's plan to cancel $39 billion in student loans for hundreds of thousands of Americans.

It calls for a judge to declare Biden's plan illegal and block the Education Department from carrying out the administration's plan while the case is being decided.

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Groups challenge Biden’s new student loan forgiveness plan in wake of Supreme Court defeatNonprofit organizations are challenging President Biden’s new student loan forgiveness plan, which was rolled out just after the Supreme Court batted down his last attempt in June. The Cato Institute and the Mackinac Center for Public Policy, represented by the New Civil Liberties Alliance, filed a federal lawsuit in Michigan last week against the feds over the “One-Time Account Adjustment” plan, which would give more than 800,000 student loan borrowers forgiveness totaling about $39 billion.
Source: WashTimes - 🏆 235. / 63 Read more »