Over 16 million people have been approved for debt relief under Biden's student loan forgiveness plan in the less than four weeks that the application was available, the White House announced.
The Biden administrationsubmitted Friday, the coalition of six GOP-led states — Arkansas, Iowa, Kansas, Missouri, Nebraska and South Carolina — laid out its main claims, arguing that they will suffer financial losses as a result of Biden's plan.
Missouri argued it would deal a blow to the state's own student loan service, while four of the states said the plan would significantly decrease their tax revenues. They also doubled down on the claim that the program exceeds the authority of the education secretary.If the court strikes down the program, it's unclear what actions the Biden administration will take to minimize the impact on borrowers whose applications have already been approved.
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