Supreme Court Denies Biden Administration’s Newest Proposal for Student Loan Forgiveness – One America News Network
OAN Staff Abril Elfi
12:07 PM – Wednesday, August 28, 2024
The Supreme Court has declined to reinstate the Biden Administration’s latest announced plan to cancel student loan debt.
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On Wednesday, the justices declined a request from the Justice Department to lift an appeal that had blocked the “SAVE Plan,” which would cancel student debt for a portion of borrowers.
The court said in an unsigned order that it “expects that the court of appeals will render its decision with appropriate dispatch.”
Because of its ruling, the U.S. Court of Appeals for the 8th Circuits’ injunction remains in effect for the time being.
Due to the ongoing legal proceedings, the Education Department also put a pause on loan payments for borrowers who were enrolled in the program earlier this month.
Additionally, the Supreme Court overturned an earlier plan last year that would have affected 40 million Americans by “forgiving” nearly half a trillion dollars in loans, while putting the financial burden on U.S. taxpayers.
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