Federal appeals court blocks remainder of Biden's student debt relief plan
Last edited Thu Jul 18, 2024, 05:43 PM - Edit history (1)
Source: AP
Updated 3:58 PM EDT, July 18, 2024
WASHINGTON (AP) — A federal appeals court blocked the implementation of the Biden administration’s student debt relief plan, which would have lowered monthly payments for millions of borrowers. In a ruling Thursday, the 8th Circuit Court of Appeals granted a motion for an administrative stay filed by a group of Republican-led states seeking to invalidate the administration’s entire student loan forgiveness program.
The court’s order prohibits the administration from implementing the parts of the SAVE plan that were not already blocked by lower court rulings. The ruling comes the same day that the Biden administration announced another round of student loan forgiveness, this time totaling $1.2 billion in forgiveness for roughly 35,000 borrowers who are eligible for the Public Service Loan Forgiveness program.
The PSLF program, which provides relief for teachers, nurses, firefighters and other public servants who make 120 qualifying monthly payments, was originally passed in 2007. But for years, borrowers ran into strict rules and servicer errors that prevented them from having their debt cancelled. The Biden administration adjusted some of the programs rules and retroactively gave many borrowers credits towards their required payments.
Two separate legal challenges to Biden’s SAVE plan have worked their way through the courts. In June, federal judges in Kansas and Missouri issued separate rulings that blocked much of the administration’s plan to provide a faster path towards loan cancellation and reduce monthly income-based repayment from 10% to 5% of a borrower’s discretionary income. Those injunctions did not affect debt that had already been forgiven.
Read more: https://apnews.com/article/student-loans-biden-debt-relief-appeals-court-abd06890b12073bd39a08deef83a9158
Article updated.
Original article -
WASHINGTON (AP) — A federal appeals court blocked the implementation of the Biden administration’s student debt relief plan, which would have lowered monthly payments for millions of borrowers.
In a ruling Thursday, the 8th Circuit Court of Appeals granted a motion for an administrative stay filed by a group of Republican-led states seeking to invalidate the administration’s entire student loan forgiveness program. The court’s order prohibits the administration from implementing the parts of the SAVE plan that were not already blocked by lower court rulings.
Two separate legal challenges to Biden’s SAVE plan have worked their way through the courts. In June, federal judges in Kansas and Missouri issued separate rulings that blocked much of the administration’s plan to provide a faster path towards loan cancellation and reduce monthly income-based repayment from 10% to 5% of a borrower’s discretionary income.
The 10th Circuit Court of Appeals issued a ruling that allowed the department to proceed with the lowered monthly payments. Thursday’s order from the 8th circuit blocks all aspects of the SAVE plan.
= new reply since forum marked as read
SAVE (Saving for A Valuable Education) is a rework of the RePAYE plan (REvised Pay As You Earn). The rework was done a while back and the Reichwingers never said a word. But mention debt forgiveness/cancellation for students (and borrowers are more likely to be Black and female than whites), and they go apeshit.
I cannot imagine that the GOPQ-balls’ resistance has anything to do with what the borrowers’ ethnic makeup is. I mean, who would ever accuse them of being racist?!?! 
Fuck the fucking fuckers. They can all just fuck off.
Only hedge fund managers and other wealthy people get loan forgiveness.
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