President Joe Biden's plan to provide millions of borrowers with up to $20,000 apiece in federal student-loan forgiveness has been blocked by a second federal court, leaving millions of borrowers to wonder if they'll get debt relief at all.
The Congressional Budget Office has said the program will cost about $400 billion over the next three decades.
The White House encouraged borrowers to continue applying for relief, saying the court order did not prevent applications or the review of applications.from a Wisconsin taxpayers group. A federal judge had earlier dismissed the group’s lawsuit, finding they didn’t have the legal right, or standing, to bring the case.Pittman’s decision strikes down the underlying legal argument used to justify Biden’s plan.
The case before the 8th Circuit could end up in the Supreme Court soon, since the six Republican-led states have asked the appeals court to keep the program on hold while the case plays out. If the appeals court grants that request, the administration will likely ask the Supreme Court to intervene. The states also could go to the high court if their request is denied.
After the Texas ruling, many hit the internet, asking Google: “Is student loan forgiveness canceled?” Overall search traffic for “student loan forgiveness” quadrupled Thursday night and had increased nearly tenfold by Friday morning, according to Google Trends data.Brenna Zimmerman, who graduated from Kansas State University in 2021 with about $30,000 in debt, called the debt forgiveness “a little bit too good to be true.
“All I want to do is make them proud and make this process much easier for them, especially because I have a younger brother who’s going to be starting next fall,” Pete said.
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