The Biden administration’s most recent student loan debt forgiveness program has drawn the attention of 17 Republican-led state prosecutor generals, who claim that it does not have the authority to remove student loan debt for an estimated 30 million Americans.
Under Biden’s new effort, called the Saving on a Valuable Education plan, “borrowers who originally took out$ 12,000 or less in loans and have been in repayment for 10 years are eligible to get their remaining debt canceled, ” an April 8 news release states.
For those who have made 120 months of eligibility payments, the Protect strategy would also accept debt. ”
“Yet afterwards, the President is formally trying to impose an incredibly cheap and controversial scheme that he could not get through Congress, ” says one of the claims, filed by Missouri, Arkansas, Florida, Georgia, North Dakota, Ohio and Oklahoma.
In an emailed statement to The College Fix, Missouri Attorney General Andrew Bailey’s spokesperson stated that President Biden does not have the power to eradicate student debt without express legislative approval.
“AG Bailey swore an oath to defend our Constitution, so he filed suit to do precisely that in this instance. Every American, including Missouri citizens, benefit from that. ”
The next lawsuit, filed by Kansas, Alabama, Alaska, Idaho, Iowa, Louisiana, Montana, Nebraska, South Carolina and Texas, argues that the last moment the Biden administration wiped out student loan debt officially, the Supreme Court ruled it was immoral.
“Nothing since then has changed, ” the complaint argues.
With this action, Biden boldly boasted about his defiance of the Supreme Court, saying in a Jacksonian manner:” the Supreme Court blocked it. They halted it. But that did n’t stop me, ’” the lawsuit states. This lawsuit is then required to stop plaintiffs from ignoring Supreme Court decisions, which includes breaking the law. ”
A U. S. In a speech to The College Fix, a spokesperson for the Department of Education defended the most recent loan forgiveness program.
“The Department does not comment on pending litigation. But, Congress gave the U. S. The Department of Education was given the power to specify the conditions of income-driven payment plans in 1993, and the Saving plan is its third instance, according to the statement.
No matter how many Republican elected officials try to stop us, the Biden-Harris Administration wo n’t stop fighting to provide support and relief to borrowers across the country.
The fresh plan’s value is unknown.
The federal government may not be able to determine the cost of the new plan, according to the White House. The Wall Street Journal reported on April 8 that Benjamin’s earlier plan would have forgiven around$ 430 billion in student loan debt.
Biden made a significant 2020 election promise, but the Supreme Court rejected Biden’s first test in Biden v. in June 2023. Nebraska, ruling the HEROES Act does not give him the power to reschedule$ 430 billion-plus of student loan principal.
However, Biden made an announcement about the innovative student loan forgiveness program shortly after the ruling was made.
According to the management, the plan is aimed at providing relief to American consumers with large quantities of accrued attention, those who have made timely payment obligations for a number of years, and former students at higher education courses deemed to be of “low-financial-value, ” the White House stated.
Loan relief will take effect on July 1 unless the lawsuits request an injunction to stop the SAVE plan from being implemented, according to the lawsuits.
The Biden administration continues to flagrantly violate the law despite the Court having already resolved this issue. We are fighting back yet more, according to Georgia Attorney General Chris Carr in an email interview with The College Fix. This is election-year politics and an egregious example of federal overreach.
According to Florida Attorney General Ashley Moody, who released a press release about the SAVE plan lawsuit, they will fight in court to prevent hard-working Americans who are unable to purchase groceries because of Biden from being held accountable for other people’s debt. ”
The Wall Street Journal attacked the proposal in an editorial on April 8 and claimed that it would encourage colleges to raise tuition, particularly in graduate programs where there are no federal loan limits. Who cares if students can’t repay? They will be pardoned in some way or another. ”
MORE: Biden’s new student loan bailout plan ignores Supreme Court ruling, tries same thing twice
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