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Economic news

Federal court extends block on Biden’s student debt relief plan

08/09/2024

Less than a minute

2024.08.09 17:45

© Reuters. U.S. President Joe Biden delivers remarks to commemorate the 60th anniversary of the signing of the Civil Rights Act at the LBJ Presidential Library in Austin, Texas, U.S., July 29, 2024. REUTERS/Kaylee Greenlee Beal/File photo

WASHINGTON (Reuters) – A federal appeals court on Friday extended an order blocking President Joe Biden’s administration from further implementing a student debt relief plan designed to lower monthly payments for millions of borrowers and speed up loan forgiveness for some.

The St. Louis-based 8th U.S. Circuit Court of Appeals largely granted an injunction pending an appeal requested by seven Republican-led states of a lower-court order that they said did not go far enough in blocking the U.S. Department of Education’s debt relief plan.

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08/09/2024

Less than a minute