TOPEKA (KSNT) – The Kansas Attorney General’s Office has joined five other attorneys general in filing a lawsuit against the Biden Administration’s student loan cancellation program.
The AG’S Office asserts that the Biden Administration lacks legal authority to make unilateral decisions to forgive debt without congressional authorization. The attorneys general, who represent Nebraska, Missouri, Arkansas, Iowa and South Carolina, seek a temporary restraining order to pause the program.
In addition to being economically unwise and downright unfair, the Biden Administration’s Mass Debt Cancellation is yet another example in a long line of unlawful regulatory actions. No statute permits President Biden to unilaterally relieve millions of individuals from their obligation to pay loans they voluntarily assumed.Statement from the attorneys general
The attorneys general go on to argue that the majority of the Mass Debt Cancellation will accrue to the debt of borrowers in the top 60% of the income distribution. This is “fundamentally unfair” to those who can least afford it to provide through their tax dollars relief to the well-off who can afford to pay their own loans, according to the attorneys general.
Student loans may begin to be cancelled as early as next week, according to the AG’s Office. Loan repayments and interest accruals have been paused since March 2020.