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Federal court extends block on Biden’s student debt relief plan

Stock Focus Report August 9, 2024

WASHINGTON (Reuters) – A federal appeals court on Friday extended an order blocking President Joe Biden’s administration from further implementing a student debt relief plan designed to lower monthly payments for millions of borrowers and speed up loan forgiveness for some.

The St. Louis-based 8th U.S. Circuit Court of Appeals largely granted an injunction pending an appeal requested by seven Republican-led states of a lower-court order that they said did not go far enough in blocking the U.S. Department of Education’s debt relief plan.

(Reporting by Nate Raymond in Boston; Editing by Leslie Adler)

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