The move excludes at least hundreds of thousands of borrowers initially told they qualified for the program.
September 30, 2022, 3:31 PMMaddie Meyer/Getty Imagesto protect against legal challenges by six states, with new guidelines that excluded at least hundreds of thousands of borrowers initially told they qualified for the program.
START HERE: Anne, is it possible that the government pulls like a take-backsy? What is going on here? The other thing is he's relying on a lot of what was enacted after 9/11. This was a law that said the president can reduce or erase student loan debt during a national emergency. But he's also the same president who went on national television recently and said the pandemic is over. That's the Republican argument on this.
FLAHERTY: We've got six states that have filed their case in a federal court in St. Louis. All red states, all conservative, say, "Look, the president is saying the pandemic is over. What's the emergency here? You can't erase these loans." At the same time when you read this complaint in court, it reads like a political statement. It talks about the economy [and] how miserable it is.