Student Loan Forgiveness Update: Another Court Blocks the Plan

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Joe Biden GIF

President Biden's student loan forgiveness update is here: a US appeals court has extended a block on the plan until further notice.

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Laughing Joe Biden GIF

The case is about barring the US Department of Education from applying student loan forgiveness program based on President Biden's order in August.

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No Joe Biden GIF

The lawsuit was filed by six states: Missouri, Nebraska, Iowa, Arkansas, Kansas, and South Carolina.

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Trumpbidendebate Joebiden GIF

They argue that President Biden skirted congressional authority to implement a student loan forgiveness plan.

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Together Were Gonna Make Sure That Americas Back Joe Biden GIF

Furthermore, the Biden student loan forgiveness plan threatens future tax revenues and money earned by a state that invests in student loans.

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Whoa GIF

On October 21, the court temporarily barred the government from continuing student loan forgiveness applications and discharging student loans.

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Look Joe Biden GIF

Later, the state's lawsuit but dismissed but they are appealing that decision. In a written statement, White House spokeswoman Karine Jean-Pierre said they are still confident about the student loan forgiveness plan.

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Papa Biden Is On Your Side Jeff Bergman GIF

She believes the student loan forgiveness program is essential to help borrowers as they are still recovering from the pandemic.

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Neuro Graduate GIF

The student loan forgiveness plan would write off around $430 billion of the $1.6 trillion outstanding student debt.

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Graduation Hedda GIF

The amount of forgiveness goes up to $10,000 for borrowers making less than $125,000/year (individual) or $250,000/year (household).

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Makarios Lazaridis GIF

Therefore, many people were wondering is the student loan forgiveness passed

Designed by Alexander Rabu

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Katorse Erich Gonzales GIF