Missouri Attorney General Andrew Bailey announced today that his office has secured a temporary restraining order against the Biden-Harris Administration’s new student loan scheme. The court order follows just two days after the suit was filed to challenge the unpublished rule.
“Today is a huge victory for every working American who won’t have to foot the bill for someone else’s Ivy League debt,” said Attorney General Bailey. “I paid for my education in blood, sweat, and tears in service to my country, so this fight is personal for me. We will continue to lead the way for working Americans who are being preyed upon by unelected federal bureaucrats in Washington D.C.”
The lawsuit claims that documents obtained at the end of August show that the Secretary of Education has been planning to implement this plan without publication since May. The States argue, “The Secretary of Education (1) is unlawfully trying to mass cancel hundreds of billions of dollars of loans, and (2) has quietly instructed federal contractors to ‘immediately’ begin cancellation as early as September 3, 2024 (but possibly beginning on September 7).”
“The actual cost of the Third Mass Cancellation Rule is thus the $146.9 billion estimated by the Department plus much of the $475 billion cost of the SAVE Plan,” states the lawsuit. “This is the third time the Secretary has unlawfully tried to mass cancel hundreds of billions of dollars in loans. Courts stopped him the first two times when he tried to do so openly. So now he is trying to do so through cloak and dagger.”
The United States Supreme Court had previously ruled in favor of Attorney General Bailey’s challenges against similar student loan cancellation schemes proposed by the Biden Administration.
Joining Attorney General Bailey in filing suit are attorneys general from Alabama, Arkansas, Florida, Georgia, North Dakota, and Ohio.