Source: The American Prospect
by David Dayen
“Two federal judges decided minutes apart on Monday that elements of the Biden administration’s income-driven repayment program, versions of which have been in place without legal concerns since 1994, should be temporarily blocked. On July 1, eight million undergraduates in the Saving on a Valuable Education (SAVE) program will not see their payments cut from 10 percent of discretionary income to 5 percent, because Kansas-based judge Daniel Crabtree ruled that this new feature could harm three states that have holdings in student loans. Across the state line in Missouri, judge John Ross then swiped at a different feature of SAVE, ruling that full debt forgiveness after the payment period may not be supported in statute, despite the fact that the government has forgiven loan balances through this program since its introduction. What’s incredible here is how much each ruling contradicts the other.” (06/26/24)
https://prospect.org/justice/2024-06-26-student-loan-rulings-unaccountable-judicial-power/