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

WATCH: Republicans rally behind Trump, continue to support...

June 6, 2025

Dem congressman won’t rule out 2024 challenge to...

September 26, 2023

Biden’s push to protect American tech from China...

February 1, 2024

Native American tribe plans protests, considers suing Biden...

June 11, 2023

The speaker’s race may get worse before it...

October 24, 2023

Rogue RINO Maricopa County Recorder Stephen Richer Violated...

October 29, 2022

Border Patrol agents stop 4 illegal immigrant sex...

August 4, 2023

Hamas refuses to attend Gaza cease-fire talks as...

August 12, 2024

Unhinged Climate Activists Hijack Beethoven Concert and Glue...

November 26, 2022

Fox News Power Rankings: Five themes emerge in...

August 13, 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

    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,570)
    • Stocks (3,136)
    • 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