Several Republican-led states have filed a lawsuit against the Biden administration over its plan to provide relief to millions of Americans burdened by student loan debt, accusing President Joe Biden of bypassing Congress and exceeding his authority.
The program, which was rolled out in August, calculates repayment amounts based on a person’s income and family size, instead of their loan balance. The plan also provides early debt forgiveness for certain borrowers. The White House announced earlier this year that some borrowers who signed up would have their debt canceled beginning in February, months ahead of schedule.
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