Former President Joe Biden’s plan to wipe $500 million in student debts for college-educated voters has finally been shut down by an appeals court.
On Tuesday, the U.S. 8th Circuit Court of Appeals put the final nail in the coffin of Biden’s scheme.
Missouri Attorney General Andrew Bailey originally sued the Biden admin over its half-a-billion-dollar effort to wipe student debts.
The scheme was known officially as the SAVE plan.
The court’s Tuesday ruling found that Biden’s administration didn’t have the authority to wipe the depts.
Biden’s secretary of education had “gone well beyond this authority by designing a plan where loans are largely forgiven rather than repaid,” the court ruled.
In a statement, Bailey noted that the ruling has no active impact beyond blocking future presidents from attempting Biden’s maneuver.
“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.
The U.S. Supreme Court previously denied the Biden admin’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.
Most recently, Biden’s Department of Justice asked the high court for emergency relief.
The Biden admin argued the court went too far when it issued a nationwide injunction.
The injunction effectively put a temporary freeze on the SAVE plan.
At the time, a White House spokesperson said in a statement:
“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.
“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 Biden 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.
However, college attendees who paid their debts, or citizens who chose not to continue into higher education, got nothing under Biden’s scheme.
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