https://www.foxbusiness.com/politics/biden-unveil-new-student-loan-
handout-slash-debt-millions-election-day

President Biden will unveil yet another student loan handout plan on
Monday in his ongoing attempt to circumvent the Supreme Court.

The court has struck down multiple versions of Biden's plans for a student
loan bailout, and 11 Republican-led states filed a lawsuit against the
version he announced in February. The new Biden plan is expected to affect
up to 30 million Americans, who will see sizable portions of their student
debt slashed before the November election, according to the Wall Street
Journal.

Biden is scheduled to unveil the plan during a public event in Wisconsin
on Monday.

The plan's central pillar focuses on cutting loans that have exceeded
their principal amount due to interest. It would cut up to $20,000 in
accrued interest while borrowers who make less than $120,000 or couples
who make less than $240,000 would be allowed to cut all of their accrued
interest beyond the principal amount, WSJ reported.

The result would see roughly 23 million Americans having their loans cut
down to the principal amount.

The plan would further cancel debt for borrowers who have held onto their
loans for decades without fully paying them off. The forgiveness would
apply to any undergraduate debt lasting more than 20 years and any
graduate debt lasting more than 25 years, according to WSJ.

The new plan is sure to face legal challenges from Republican states
across the country. In late March, Kansas Attorney General Kris Kobach led
10 other states in a lawsuit blocking the student loan program Biden
launched in February.

Kansas was among the six states who successfully challenged Biden's
original student loan forgiveness program last year. Kobach says the
latest program flies in the face of the Supreme Court's 2023 ruling and
breaks many of the same rules.

"Not since the civil war has a president told the Supreme Court, �Yeah you
blocked me, but I�m gonna do it anyway.�" Kobach told Fox News Digital in
an interview. "Biden is trying to twist federal law once again, and his
new plan is just as illegal as the old plan.

The states joining Kansas in the lawsuit are Alabama, Alaska, Idaho, Iowa,
Louisiana, Montana, Nebraska, South Carolina, Texas and Utah.

--
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Thank you for cleaning up the disaster of the 2008-2017 Obama / Biden
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Under Barack Obama's leadership, the United States of America became the
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President Trump boosted the economy, reduced illegal invasions, appointed
dozens of judges and three SCOTUS justices.