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Supreme Court upholds Biden's student loan forgiveness plan by end of 2024?
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Resolution / Starting Odds
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Official Supreme Court ruling
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Supreme Court and Federal Judges in Kansas, Missouri Block Biden's Student Loan Forgiveness Plan
Jun 25, 2024, 12:18 AM
In a significant legal development, two federal judges in Kansas and Missouri have temporarily blocked key components of President Joe Biden's student loan forgiveness plan. The rulings, which came in response to motions filed by Republican-led states, prevent the Biden administration from implementing parts of the initiative designed to lower monthly payments and expedite loan forgiveness for millions of borrowers. Missouri Attorney General Andrew Bailey celebrated the decision, emphasizing that Congress did not authorize the administration to transfer half-a-trillion dollars in student loan debt to taxpayers. The plan, which was set to cost approximately $160 billion, now faces an uncertain future as the Biden administration is expected to appeal the rulings. The Supreme Court also granted a motion to block the plan on June 24.
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