In a statement Monday, the 8th Circuit Court of Appeals announced they are blocking President Joe Biden’s Student Loan Forgiveness Plan, saying it would be harmful to the state of Missouri.
The court, which oversees all of North Dakota, South Dakota, Nebraska, Missouri, Minnesota, Iowa and Arkansas, accused the president of overstepping his executive powers.
The 8th Circuit also alleges the enforcement of the plan would put undue harm on Missouri top loan servicer, the Missouri Higher Education Loan Authority, or MOHELA.
The decision is the second nationwide to be handed down, joining a similar ruling by a federal judge in Texas.
President Biden and his administration can appeal the ruling by taking the decision to the United States Supreme Court.
A statement from Missouri Attorney General Eric Schmitt in regards to the decision can be read below:
| “Millions of hardworking Americans have felt the pain of increased inflation and rising prices due to the Biden Administration’s disastrous policies. The Biden Administration’s attempt to forgive student loan debt would saddle Americans who did not take out loans or who have paid their loans off already with even more economic woes. This is a big win for our Office and for Americans across the country, and we will keep up the fight.” |