Republican States Challenge Biden’s Student Loan Repayment Rule

Eleven Republican-led states filed a lawsuit against President Joe Biden Thursday seeking to invalidate the administration’s rule to cut monthly student loan costs and quicken loan forgiveness for some borrowers.

The complaint, filed in the US District Court for the District of Kansas, takes aim at a July 2023 US Department of Education rule allowing borrowers to enroll in income-driven repayment plans that lowered their monthly federal student loan bills to as low as zero. The rule also cancels loans after 10 years of payments for those who borrowed $12,000 and after additional years for those who borrowed more. ...