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HomeTrading NewsBiden administration asks Supreme Court to allow student debt forgiveness plan to continue

Biden administration asks Supreme Court to allow student debt forgiveness plan to continue

U.S. President Joe Biden speaks about student loan debt at the White House on Aug. 24, 2022 in Washington, DC.
Alex Wong | Getty

The Biden administration on Friday asked the Supreme Court to reinstate its federal student loan program after a federal appeals court issued an injunction against the plan.

That ruling by the federal appeals court for the 8th Circuit in St. Louis was the latest in a series of legal challenges to President Joe Biden‘s plan to cancel up to $20,000 in student debt for millions of Americans. The Biden administration stopped accepting applications for its relief earlier in the month after a federal district judge in Texas struck down its plan last week, calling it “unconstitutional.”

This is a developing story. Please check back for updates.

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