17 states sue Biden over latest student loan bailout plan

Attorney generals for 17 Republican-led states have sued the Biden administration over its latest student loan debt forgiveness plan, arguing it does not have the authority to wipe out student loan debt for an estimated 30 million Americans.

Under Biden’s new effort, called the Saving on a Valuable Education plan, “borrowers who originally took out $12,000 or less in loans and have been in repayment for 10 years are eligible to get their remaining debt canceled,” an April 8 news release states.

The SAVE plan would also forgive debt for “borrowers in public service for 10 years who have made 120 months of qualifying payments.”

“Yet again, the President is unilaterally trying to impose an extraordinarily expensive and controversial policy that he could not get through Congress,” states one of the lawsuits, filed by Missouri, Arkansas, Florida, Georgia, North Dakota, Ohio and Oklahoma.