The lawsuit comes less than a week after the US Supreme Court rejected the Biden administration's bid to revive a different student debt relief plan that was designed to lower monthly payments for millions of borrowers and speed up loan forgiveness for some.
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The lawsuit came less than a week after the US Supreme Court rejected the Biden administration’s bid to revive a different student debt relief plan that was designed to lower monthly payments for millions of borrowers and speed up loan forgiveness for some. That could lead to the overnight cancellation of at least $73 billion in loans, the lawsuit said, and billions in further debt relief could follow. The states argue the Education Department has no authority to carry out such debt forgiveness.
The lawsuit is the latest legal challenge to the Democratic president’s efforts to fulfill a campaign pledge and bring debt relief to millions of Americans who turned to federal student loans to fund their costly higher education.
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