Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

Circuit court puts final nail in the coffin for Biden’s $500B student loan forgiveness plan

by February 19, 2025
February 19, 2025

The U.S. 8th Circuit Court of Appeals put a final end to former President Joe Biden’s student loan forgiveness plan on Tuesday.

Missouri Attorney General Andrew Bailey originally sued the Biden administration over its nearly $500 billion effort to wipe away student loans, known as the SAVE plan. The court’s Tuesday ruling found that Biden’s secretary of education had ‘gone well beyond this authority by designing a plan where loans are largely forgiven rather than repaid.’

Bailey noted in a statement that the ruling has no active impact beyond blocking future presidents from attempting Biden’s maneuver.

‘Though Joe Biden is out of office, this precedent is imperative to ensuring a President cannot force working Americans to foot the bill for someone else’s Ivy League debt,’ Bailey said in a statement.

The Supreme Court of the United States denied the Biden administration’s request to lift a block on the SAVE plan last year. A federal appeals court in Missouri had earlier blocked the entire SAVE program from being enforced while litigation over the merits continues in the lower courts. The Department of Justice, which is part of the Biden administration, most recently asked the high court for emergency relief.

The Biden administration argued the court went too far when it issued a nationwide injunction, which effectively put a temporary freeze on the SAVE plan.

‘Our Administration will continue to aggressively defend the SAVE Plan – which has helped over 8 million borrowers access lower monthly payments, including 4.5 million borrowers who have had a zero dollar payment each month,’ a White House spokesperson told Fox News Digital at the time. ‘And, we won’t stop fighting against Republican elected officials’ efforts to raise costs on millions of their own constituents’ student loan payments.’

Biden introduced SAVE after the Supreme Court struck down his initial student loan forgiveness plan. The White House said that the SAVE plan could lower borrowers’ monthly payments to zero dollars, reduce monthly costs in half and save those who make payments at least $1,000 yearly. Additionally, borrowers with an original balance of $12,000 or less will receive forgiveness of any remaining balance after making 10 years of payments.

Fox News’ Greg Wehner contributed to this report.

Read the full 8th Circuit ruling here:

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Howard Lutnick confirmed as Trump’s commerce secretary
next post
‘I didn’t know that’: Musk surprises Trump with revelation about his 2024 endorsement

You may also like

Missouri Sen. Eric Schmitt calls for investigation into...

February 4, 2023

James Carville, here’s what you need to know...

May 17, 2024

Biden admin under fire for offshore wind impacts...

June 28, 2023

Netanyahu rejects Hamas cease-fire deal, says ‘complete victory’...

February 8, 2024

Planned Parenthood Announces Mobile Abortion Unit, Will Patrol...

October 6, 2022

Corrupt Jan 6th Committee Releases Statement Threatening President...

November 15, 2022

Mitch McConnell to set record for longest-serving Senate...

January 3, 2023

Trump sounds off after ‘Highly Conflicted’ Obama-nominated judge...

March 27, 2025

EXCLUSIVE: Petition Filed with the US Supreme Court...

September 30, 2022

RFK Jr says this is ‘2-man race’ after...

July 22, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump signs rescissions package, closes out week with trip to Scotland

      July 26, 2025
    • CHARLIE KIRK: Republicans must seize Gen Z moment or risk losing an entire generation

      July 26, 2025
    • Technology in Hospitality: Innovations Shaping Guest Experiences

      July 26, 2025
    • British Factories Are Getting Smarter—But It’s Not Where You Think

      July 26, 2025
    • Navigating Risk and Reinvention: A Conversation with Krishen Iyer

      July 26, 2025
    • Budget-Friendly Compliance Tips for Growing Operations

      July 26, 2025

    Categories

    • Business (8,580)
    • Investing (2,151)
    • Politics (16,205)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved