(Reuters) – A U.S. appeals court on Tuesday ruled that Democratic former President Joe Biden’s administration lacked authority to pursue a student debt relief plan designed to lower monthly payments for millions of borrowers and speed up loan forgiveness for some.
The 8th U.S. Circuit Court of Appeals sided with seven Republican-led states that sued to block the U.S. Education Department’s rule, which they say would cost taxpayers hundreds of billions of dollars. President Donald Trump’s administration was expected to roll it back had the court not enjoined it.
(Reporting by Nate Raymond in Boston)
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