🧵 1. Seven GOP states sue Education Dept to block Biden's student loan forgiveness plan, calling it illegal and accusing admin of mass loan cancellation without congressional approval. #politics
🧵 1. Seven GOP states sue Education Dept to block Biden's student loan forgiveness plan, calling it illegal and accusing admin of mass loan cancellation without congressional approval. #politics
🧵 2. States claim Education Dept already instructed servicers to begin canceling loans in violation of rulemaking process timing.
🧵 3. Lawsuit aiming to prevent Biden's attempt to reduce or eliminate student loan balances just before election, targeting new relief plan estimated at $147 billion for 25 million borrowers.
🧵 4. Education Dept spokesperson declined to comment on pending litigation but vows to continue fighting for struggling federal student loan borrowers.
🧵 5. Biden administration working on revised student loan forgiveness plan after Supreme Court blocked initial policy; new plan aims to help 25 million borrowers with affordable repayment options.
🧵 Read more at: https://www.cnbc.com/2024/09/04/republican-led-states-sue-to-block-bidens-student-loan-forgiveness-plan.html