The Republican-led governments of seven states have filed suit to halt a Biden Administration student loan forgiveness program that could save as much as $20,000 in accrued interest for each of 25 million borrowers, the Washington Post reports.
Introduced in April, the executive rule has yet to go into effect, but the Republicans from seven states–Georgia, Alabama, Arkansas, Florida, North Carolina and Ohio led by Missouri Republican Attorney General Andrew Bailey–says they have evidence the Administration is illegally planning to implement the loan forgiveness before the rule is issued. They claim they have communications between the Department of Education and loan servicers directing them to wipe $73 billion in interest payments off the books days before the rule is to be issued.