Six-Republican led states have filed a federal lawsuit against the Biden Administration to stop the debt cancellation for millions of student loan borrowers.
Biden announced the student loan cancelation for million of people in August. In his announcement, borrowers who received a Pell Grant would have $10,000 canceled.
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In a new lawsuit filed in a federal Missouri court, Iowa, Kansas, Missouri, Nebraska, South Carolina, and Arkansas believe the Biden Administration overstepped their authority.
The lawsuit that was filed on Thursday says that the cancellation policy is “not remotely tailored to address the effects of the pandemic on federal student loan borrowers.”
Arkansas Attorney General Leslie Rutledge, representing the collective group, says it is “unfair” to burden others with the debt of “those who chose to go to college.”
Rutledge also says that Biden is “required” by law to collect the debt and cannot override it.
Plan Will Also Cut Monthly Student Loan Payments In Half, Millions Of Borrows To Be Eligible For Relief
In a speech, Biden made it clear he was keeping his campaign promise when he announced debt relief for borrowers.
In keeping with my campaign promise, my Administration is announcing a plan to give working and middle-class families breathing room as they prepare to resume federal student loan payments in January 2023,” Biden tweeted while announcing the plan.
His plan will also reduce monthly student loan payments by 50 percent, repair the Public Service Loan Forgiveness program, and make the existing student loan system easier to manage for current and future borrowers.
Roomies, what do you think of this?