• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

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

by February 18, 2025
written by February 18, 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 $500 million 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 comment
0
FacebookTwitterPinterestEmail

previous post
Vice President JD Vance to speak at CPAC’s opening day
next post
Former USAID official warns China is already looking to fill void left by paused programs

related articles

Hunter Biden seen driving Toyota rental in South...

May 31, 2025

Trump tariff plan faces uncertain future as court...

May 31, 2025

Musk confident DOGE will save $1 trillion as...

May 30, 2025

Who will be Elon’s successor? The top names...

May 30, 2025

Elon Musk sports black eye at farewell presser...

May 30, 2025

Biden says he could ‘beat the hell out...

May 30, 2025

Donald Trump fires National Portrait Gallery director for...

May 30, 2025

‘American hero’ or ‘failure’: Elon Musk’s DOGE departure...

May 30, 2025

Unfinished Business: The budget cuts Musk couldn’t complete...

May 30, 2025

Alleged attempt to impersonate White House chief of...

May 30, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Ozempic, Wegovy covered by Medicare and Medicaid under Biden admin proposal for anti-obesity GLP-1 drugs

    November 26, 2024
  • Trump nominates Harmeet Dhillon, Mark Paoletta to key posts, backs KC Crosbie for RNC co-chair

    December 10, 2024
  • SafeMoon and Litecoin: Litecoin closed yesterday at $76.76

    July 30, 2024
  • Key Trump agency facing ‘unprecedented backlog’ inherited from Biden admin

    April 15, 2025
  • The Potential Effect of the US Election on Cryptocurrency

    October 8, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (4,735)
  • Investing (624)
  • Stock (775)

Latest Posts

  • Japanese eateries hike prices as tourist influx reaches record levels

    July 29, 2024
  • Trump, GOP leaders meet at White House as president plans visit to NC, defends executive orders

    January 22, 2025
  • Blue state Democrats issue scathing reflection on election loss: ‘We’re out of touch’

    November 11, 2024

Recent Posts

  • Taiwan eyes $15B military package in signal to Trump administration it is ‘serious’ on defense: report

    November 11, 2024
  • Lawsuit accuses state department, DOJ of stonewalling FOIA requests regarding climate office personnel

    October 7, 2024
  • Apple announces iPhone event for Sept. 9

    August 26, 2024

Editor’s Pick

  • Former White House lawyer says Trump will not use DOJ ‘for political purposes,’ but to implement ‘his agenda’

    November 8, 2024
  • Jane Fonda says Harris-Walz ticket is ‘only hope’ to beat ‘orange man’ in campaign call with climate activists

    August 16, 2024
  • Elon Musk becomes DNC’s target in high-stakes Wisconsin Supreme Court showdown

    March 28, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.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 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock