Economy & Business, Politics

Appeals Court Temporarily Blocks Biden’s Student Loan Bailout

The 8th U.S. Circuit Court of Appeals granted a motion on Friday to temporarily block President Biden’s estimated $500 billion student loan handout plan.

The appeals court ruled in favor of six Republican-led states who requested that Biden’s handout plan is halted while the court works through its request for an injunction.

Biden’s plan, which aims to cancel up to $20,000 in student loan debt for Pell Grant recipients in college and up to $10,000 for others who borrowed using federal student loans.

Qualifications for the handout include having an adjusted gross income of less than $125,000 individually, and less than $250,000 if married.

The decision by the appeals court comes just days after the White House released the online application for the handout. Read more…

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