President Biden's plan to forgive student loan debt for millions of borrowers was handed another legal loss when a federal appeals court panel agreed to a preliminary injunction halting the program while an appeal plays out.
while it considered an effort by the states of Nebraska, Missouri, Iowa, Kansas, Arkansas and South Carolina to block the loan forgiveness plan.
“This unanticipated financial downturn will prevent or delay Missouri from funding higher education at its public colleges and universities,” the 8th Circuit ruling stated. Lawyers for the administration contend the COVID-19 pandemic created a national emergency and that student loan defaults have skyrocketed over the past 2 1/2 years.
White House Press Secretary Karine Jean-Pierre has said that so far, 26 million people had applied for debt relief, and 16 million people had already had their relief approved. The Department of Education would “quickly process their relief once we prevail in court,” she said after the ruling in Texas.
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