Student Loan Forgiveness On Hold

Student loan forgiveness is on hold, attorneys general from Republican-Arkansas, Iowa, Kansas, Missouri, Nebraska and South Carolina have sued the Biden administration in an effort to stop its plan to cancel hundreds of billions of dollars in student debt.

U.S. District Judge Henry Autrey in St. Louis ruled earlier this month that while the states had raised “important and significant challenges to the debt relief plan,” they ultimately lacked legal standing to pursue the case.

The states have filed an appeal, and asked the court to stay the president’s plan, which was supposed to start unfolding as early as this week, while their request is considered.

The 8th U.S. Circuit Court of Appeals has granted the states’ emergency petition, blocking the administration from clearing student debt for until further judicial review.

Source: CNBC