WASHINGTON >> A federal judge in Missouri temporarily blocked a Biden administration plan to cancel student debt less than a day after another judge had allowed it to proceed, throwing into uncertainty the fate of a program that could affect more than 27 million borrowers.
The decision, which came down late Thursday, stymied the administration’s efforts to finalize the program before President Joe Biden leaves office in January, and was the latest roadblock in his halting efforts to fulfill a campaign pledge to provide mass student loan relief. Legal challenges have held up several programs.
The program would cancel up to $20,000 in accrued interest on the loans and would forgive outstanding balances for borrowers who started repaying their loans decades ago, among other measures. It is the biggest piece of the president’s multipronged effort to offer broad student debt cancellation.
— The New York Times