President Joe Biden‘s costly plan to assist millions of student loan borrowers is much more likely to face Supreme Court scrutiny after a Monday federal appeals court decision marked the latest blow to the debt forgiveness program.
A three-judge panel on the 8th U.S. Circuit Court of Appeals in St. Louis issued a preliminary injunction and blocked the program in one of several cases challenging the loan relief plan, which is estimated by the Congressional Budget Office to cost nearly $400 billion over the next three decades.
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