Two conservative groups are asking a federal court to block the Biden administration's plan to cancel $39 billion in student loans for more than 800,000 borrowers.
The Education Department called the suit"a desperate attempt from right wing special interests to keep hundreds of thousands of borrowers in debt." The Biden administration announced July 14 that it would soon forgive loans for 804,000 borrowers enrolled in income-driven repayment plans. The plans have long offered cancellation after borrowers make 20 or 25 years of payments, but"past administrative failures" resulted in inaccurate payments counts that set borrowers back on their progress toward forgiveness, the department said.
Biden's action was illegal, the lawsuit says, because it wasn't authorized by Congress and didn't go through a federal rulemaking process that invites public feedback.
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