BREAKING: Federal Court Freezes Biden’s Student Loan Bailout
A federal appeals court temporarily froze President Joe Biden’s (D) controversial student loan bailout Friday evening.
The U.S. Court of Appeals for the 8th Circuit ordered the Biden administration to not begin cancelling student loan debt after millions of people began signing up for the program.
The court granted an administrative stay while it considers a request for an injunction from six states that are seeking to block Biden’s program.
Biden’s controversial loan relief plan would cancel up to $10,000 of student debt for individuals who earn less than $125,000 per year, or less than $250,000 for married couples.
“Our student loan plan lowers costs for Americans as they recover from the pandemic to give everybody a little more breathing room,” Biden claimed in a speech on Friday. “Republican members of Congress, Republican governors are doing everything they can to deny this relief. Their outrage is wrong and it’s hypocritical.”
Legal experts have argued that Biden’s use of the HEROES Act, a 2003 law meant to aid Iraq War veterans and their families, as justification for the student loan bailout is “flagrantly illegal.”
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