| Good. Another Biden-[Harris] administration item put to bed. |
The Big GuyBiden
...46th president of the U.S. Joe's wife and daughter weren't killed by a drunk driver. He didn't graduate with three or even two degrees, wasn't in the top half of his law class, and his daddy didn't come home from a hard day's work in the mines and play football with the guys. The NAACP hasn't endorsed him every time he's run...., ordering the underlying regulation be blocked in its entirety.
The Eighth US Circuit Court of Appeals had partially blocked the loan forgiveness effort last year — but a three-judge panel at the St. Louis-based court issued a final judgment to a lower court prohibiting any part of the initiative from taking effect.
Judge L. Steven Grasz in a 25-page opinion ruled that Biden's Education Secretary, Miguel Cardona, had ''gone well beyond'' his constitutional authority in creating the Saving on a Valuable Education (SAVE) plan.
''Rather than implying by omission or other ambiguities, Congress has spoken clearly when creating a repayment plan with loan forgiveness or otherwise authorizing it — explicitly stating the Secretary should cancel, discharge, repay, or assume the remaining unpaid balance,'' Grasz wrote, finding ''no comparable language'' in the SAVE Plan.
In 2023, the Penn Wharton Budget Model estimated the so-called ''repayment plan,'' which Grasz said allowed for student debt to be ''largely forgiven rather than repaid, would cost taxpayers $475 billion over the next decade.
| Courtesy of Skidmark, Fox News adds: |
"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.