Six Republican states on Thursday sued President Joe Biden to block his planned cancellation of hundreds of billions of dollars of student loan debt, arguing it was unlawful and harmful to working-class Americans.
President Joe Biden's plan to forgive hundreds of billions of dollars in student loan debt is facing its first serious legal challenge alleging it violates federal law and the Constitution, according to a lawsuit filed by the Pacific Legal Foundation on Tuesday.
Estimates vary widely on how much President Joe Biden’s $10,000-20,000 per borrower cancellation of student loans will cost taxpayers, but a new analysis estimates the significant cost of a less-covered aspect of Biden’s plan.
There’s a fun new heresy circulating on social media, and it goes a little something like this: “Bold of Christians to be mad about student debt forgiveness while professing a faith that is literally based on forgiving debts.”
President Joe Biden’s expansive student loan forgiveness plan drew a pointed response from Gov. Ron DeSantis, who declared that the Universities graduating students with “worthless” degrees should be held responsible for the debt, not the American taxpayers.
A watchdog group claims President Joe Biden’s newly announced student loan forgiveness scheme stands to benefit a number of Biden appointees who qualify for the debt wipeout scheme that Republicans have panned as “wildly unfair redistribution.”
The purpose of income-driven repayment plans for student loans is in the name: Give borrowers affordable monthly payments based on the income they're bringing home, with the promise of loan forgiveness after about 20 years.
