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    Home»News»US appeals court rejects Biden’s bid to revive student loan plan
    News

    US appeals court rejects Biden’s bid to revive student loan plan

    R innissBy R innissDecember 1, 2022No Comments3 Mins Read
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    (Reuters) – A federal appeals court on Wednesday suspended a Texas judge’s ruling that President Joe Biden’s plan to cancel hundreds of billions of dollars in student loan debt was illegal. refused.

    The New Orleans-based Fifth Circuit Court of Appeals has dismissed the Biden administration’s request to suspend a November 10 judge’s order to rescind the $400 billion student debt relief program after conservative advocacy groups. Dismissed in the lawsuit pursued.

    A decision by Judge Mark Pittman of the U.S. District Court, based in Fort Worth, Texas, nationwide prevented the U.S. Department of Education from making progress granting debt relief to millions of borrowers under a Democratic president. It was one of two decisions made.

    The administration, at the request of six Republican-led states, asked the U.S. Supreme Court to similarly lift an order from the St. Louis-based Eighth Circuit Court of Appeals that barred student loan cancellations.

    A panel of three Fifth Circuit judges, in a brief order Wednesday, refused to suspend Pittman’s sentencing while the administration appeals his decision, but the court said it would expedite the appeal. instructed to examine.

    The committee included two Republican appointees and one judge nominated by then-Democratic President Barack Obama. Pittman was appointed by then-Republican President Donald Trump.

    The White House did not immediately comment, but said it would ask the U.S. Supreme Court to intervene if the Fifth Circuit refused to stay Pittman’s order.

    Biden announced in August that the U.S. government would forgive up to $10,000 in student loan debt for borrowers earning less than $125,000 a year, and $250,000 for married couples. Students who receive a Pell Grant to benefit low-income college students will have up to $20,000 of debt written off.

    During the 2020 presidential election, Biden promised to help debt-ridden former college students. Biden’s program drew opposition from Republicans who portrayed it as shifting the burden of debt from wealthy elites to low-income Americans.

    The Congressional Budget Office calculated in September that implementing the debt forgiveness program would cost taxpayers about $400 billion.

    About 26 million Americans have applied for student loan forgiveness, and the U.S. Department of Education had already approved 16 million applications when Pittman rendered his ruling.

    Mr. Biden announced last week that the administration would suspend student loan payments to reduce uncertainty for borrowers while lawsuits over the debt relief plan are underway.

    Pittman is partially or fully ineligible for loan forgiveness, backed by the Job Creators Network Foundation, a conservative advocacy group founded by Home Depot co-founder Bernie Marcus. Judgment was rendered in a lawsuit filed by a person’s borrower.

    The judge said it didn’t matter if Mr. Biden’s plan was good public policy. Because the plan was “one of the greatest attempts in American history to exercise legislative power without the power of Congress.”

    Pittman wrote that the HEROES Act — the law that provides financial assistance to military personnel and which the Biden administration relied on to enact its relief plan — did not approve the program.

    Elaine Parker, president of the Job Creators Network Foundation, said in a statement that Wednesday’s Fifth Circuit Court order prevented the pending administration from “paying debtors money and claiming victory.” rice field.

    Reporting by Nate Raymond of Boston.Editing by Tom Hoag, Robert Barthel

    Our standards: Thomson Reuters Trust Principles.

    Nate Raymond

    thomson Reuters

    Nate Raymond reports on federal justice and litigation. You can contact him at his nate.raymond@thomsonreuters.com.



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