MISSOURI – Missouri and five other states have filed a joint lawsuit against President Joe Biden and the U.S. Secretary of Education, Miguel Cardona, in an effort to stop the president’s college loan forgiveness program.
The complaint was filed on Sept. 29 and the plaintiffs are attorneys general from the states of Missouri, Arkansas, Iowa, Kansas, Nebraska and South Carolina.
Missouri Attorney General Eric Schmitt cites “economic woes” as one motive behind the lawsuit. If President Biden chooses to forgive student loans, Schmitt says that the burden of the economic loss and price increases will hit those who can least afford it, like working-class and poor populations.
The states said in their complaint that the Biden Administration’s response to out-of-control inflation, job loss, and recession, is to give many college students up to $20,000.
The Biden Administration will do that by canceling $10,000 to $20,000 of student loan debt for individuals who make less than $125,000 annually, or $250,000 annually for a married person filing jointly.
The plaintiffs say that there is no statute that permits President Biden to unilaterally relieve millions of individuals from their obligation to pay loans they voluntarily assumed.
As of right now, President Joe Biden is planning to continue the Mass Debt Cancellation Program. To see the entire lawsuit, click here.