FILE - President Joe Biden answers questions with Education Secretary Miguel Cardona as they leave an event about the student debt relief portal beta test in the South Court Auditorium on the White House complex in Washington, Oct. 17, 2022. The Biden administration is no longer accepting applications for student loan forgiveness after a second federal court shut down the program.
The Congressional Budget Office has said the program will cost about $400 billion over the next three decades. In a separate lawsuit filed by six states, a three-judge panel of the 8th U.S. Circuit Court of Appeals in St. Louis also put the plan on hold, and that case is before the Supreme Court. Conservative attorneys, Republican lawmakers and business-oriented groups have asserted that Biden overstepped his authority in taking such sweeping action without the assent of Congress. They called it an unfair government giveaway for relatively affluent people at the expense of taxpayers who didn’t pursue higher education.
In putting the program on hold, the 8th Circuit panel said there was little harm to borrowers because repayments have been suspended. Allowing the cancellations to proceed before a definitive court ruling would have had än “irreversible impact,” the appeals court said. The 8th Circuit judges, two Trump appointees and one judge selected by former President George W. Bush, determined there might be financial costs to the Missouri Higher Education Loan Authority, and said that was enough.
How does it feel to be used for a vote students?
Education Education Latest News, Education Education Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CBSNews - 🏆 87. / 68 Read more »
Source: nypost - 🏆 91. / 67 Read more »
Source: WSJ - 🏆 98. / 63 Read more »