<p>The <a href="http://dailywire.com/topic/biden-administration" target="_blank" rel="noopener">Biden administration</a> doubled down on its move to <a href="https://www.dailywire.com/topic/student-loans" target="_blank" rel="noopener">cancel student debt</a> for millions of borrowers after a federal judge nixed the controversial program.</p>
<p>U.S. District Judge Mark Pittman in the Northern District of Texas <a href="https://www.dailywire.com/news/breaking-federal-court-declares-bidens-student-loan-bailout-is-illegal" target="_blank" rel="noopener">declared</a> the debt cancellation plan illegal on Thursday evening in response to a <a href="https://www.dailywire.com/news/shifting-the-burden-to-taxpayers-biden-slammed-with-lawsuit-against-student-loan-power-grab" target="_blank" rel="noopener">lawsuit</a> filed by the Job Creators Network Foundation’s Legal Action Fund. The student loan cancellation plan would <a href="https://www.dailywire.com/news/breaking-biden-announces-details-of-student-loan-cancellation-plan" target="_blank" rel="noopener">eliminate</a> $10,000 in debt for borrowers earning under $125,000 per year and $20,000 for students who attended college using Pell Grants.</p>
<p>White House Press Secretary Karine Jean-Pierre said in a <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2022/11/10/statement-by-white-house-press-secretary-karine-jean-pierre-on-the-district-courts-ruling-on-the-biden-harris-administrations-student-debt-relief-program/" target="_blank" rel="noopener">statement</a> that an appeal has already been filed. “The President and this administration are determined to help working and middle-class Americans get back on their feet, while our opponents — backed by extreme Republican special interests — sued to block millions of Americans from getting much-needed relief,” she remarked. “We will never stop fighting for hardworking Americans most in need — no matter how many roadblocks our opponents and special interests try to put in our way.”</p>
<p>The Department of Education has received applications from 26 million individuals seeking student loan cancellation, of which 16 million have been approved. Jean-Pierre added that the agency will “hold onto their information so it can quickly process their relief once we prevail in court.”</p>
<p>The complaint from the Job Creators Network Foundation, a conservative advocacy group, contends that the student loan elimination policy violated the notice-and-comment processes mandated by the Administrative Procedure Act. Other parties, including multiple conservative state attorneys general, have likewise <a href="https://www.dailywire.com/news/federal-judge-dismisses-republican-led-challenge-to-biden-student-debt-bailout" target="_blank" rel="noopener">filed suit</a> over the debt cancellation effort.</p>
<p>Job Creators Network Foundation President Elaine Parker celebrated the judge’s decision in a statement provided to The Daily Wire. &#8220;The court has correctly ruled in favor of our motion and deemed the Biden student loan program illegal,” she said. “The judge criticized the Biden administration program, calling it &#8216;one of the largest exercises of legislative power without congressional authority in the history of the United States.&#8217; This ruling protects the rule of law which requires all Americans to have their voices heard by their federal government.”</p>
<p>The White House has also extended the <a href="https://www.dailywire.com/news/nationwide-pause-on-student-loan-debt-set-to-expire-biden-officials-expected-to-update-borrowers-soon" target="_blank" rel="noopener">pause</a> on federal student loan repayment to January 2023 and will permit borrowers with undergraduate loans to cap payments at 5% of monthly income. One <a href="https://www.cbo.gov/system/files/2022-09/58494-Student-Loans.pdf" target="_blank" rel="noopener">estimate</a> from the Congressional Budget Office predicts that the overall cost of the debt elimination could reach $400 billion, with another $20 billion incurred by the extended pause on repayments.</p>
<p>“This attempted illegal student loan bailout would have done nothing to address the root cause of unaffordable tuition: greedy and bloated colleges that raise tuition far more than inflation year after year while sitting on $700 billion in endowments,” Parker continued. “We hope that the court’s decision today will lay the groundwork for real solutions to the student loan crisis.&#8221;</p>
<p>Though President Joe Biden <a href="https://www.whitehouse.gov/briefing-room/speeches-remarks/2022/10/21/remarks-by-president-biden-on-student-loan-forgiveness/" target="_blank" rel="noopener">claimed</a> that “not a dime” of the debt cancellation will benefit the top 5% of earners, data have indicated that student loan forgiveness largely helps individuals who are poised to earn the most from their degrees, as graduate-level education is <a href="https://www.dailywire.com/news/schumer-slams-fat-cats-who-dont-want-to-cancel-student-loans" target="_blank" rel="noopener">often necessary</a> for the most lucrative professions. A <a href="https://www.brookings.edu/research/student-loan-forgiveness-is-regressive-whether-measured-by-income-education-or-wealth/" target="_blank" rel="noopener">report</a> from the Brookings Institution observed that one-third of student debt is owed by the wealthiest 20% of households, while only 8% is owned by the bottom 20%.</p>

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Biden Doubles Down On Student Loan Cancellation Despite Federal Ruling