A new lawsuit was filed earlier this month to prevent Education Secretary Cardona from implementing Biden’s student debt forgiveness plan.
There’s a new push to block Biden’s student debt forgiveness plan.
In The Daily Signal, it was said that Cardona and Biden used the pandemic as a cover for the unlawful extension of the Americans’ student loan repayments pause. Time after time, the Biden Education Department said this pause was done, only to renew it.
After the court strike down Biden’s student debt forgiveness plan, Cardona created the “on-ramp” repayment in where borrowers can delay their payment for a given time when the payments restart so they won’t struggle even without Biden’s student debt forgiveness.
In line with the ongoing Biden’s student debt forgiveness, if 3.6 million borrowers will have their loans cancelled three years early, each borrower will make 36 fewer monthly payments. This will lead to a total cancellation of 130 million monthly payments but this Biden’s student debt forgiveness plan will cost taxpayers around $175 billion.
After numerous lawsuits to block Biden’s student debt forgiveness plan, he was able to create new plans to disallow such plaintiffs.
The Cato Institute and Mackinac Center For Public Policy have recently filed a lawsuit with the New Civil Liberties Alliance as their counsel. The lawsuit aims to challenge the newly implemented rules that impact the Biden’s student debt forgiveness; the Education Department’s Public Service Loan Forgiveness and Income-Driven Repayment programs.
Hundreds of billions of dollars out of nearly two trillion dollars of student loan debt already have been dropped so far due to Biden’s student debt forgiveness campaigns.
According to The Heritage, the 5th U.S. Circuit Court of Appeals has temporarily blocked a rule that would have allowed Biden’s student debt forgiveness and shift the financial burden to private colleges or to taxpayers. The injunction on Biden’s student debt forgiveness is in effect nationwide.