by WorldTribune Staff / 247 Real News February 18, 2025
The 8th U.S. Circuit Court of Appeals on Tuesday blocked the Biden-Harris regime’s student loan bailout plan.
Blocking the bailout will save American taxpayers $475 billion over a decade, according to an analysis by the University of Pennsylvania’s Penn Wharton Budget Model.
The court sided with the seven Republican-led states that filed a lawsuit against the Department of Education’s so-called Saving on a Valuable Education (SAVE) plan.
In the lawsuit, the states argued that Joe Biden was essentially trying to find a roundabout way to forgive student debt after the Supreme Court blocked his sweeping debt cancellation plan in June 2023.
Republicans argued that taxpayers should not be asked to subsidize the loan payments of those who have benefited from a higher education.
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.”
Missouri Attorney General Andrew Bailey, the first to sue the Biden-Harris regime over the SAVE plan, said in a statement: “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.”
Joining Missouri in the lawsuit were Arkansas, Florida, Georgia, North Dakota, Ohio, and Oklahoma.
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