Important Takeaways:

• U.S. District Judge Matthew Schelp snatched the win from the Biden administration in response to a request from six Republican state attorneys general who have challenged the White House’s effort.
• The Republican-led states assert the Department of Education has overstepped its authority by proposing a regulation to cancel student loan debt without an act of Congress.
• The White House counters that the president has used his authority under existing law to ensure borrowers who meet certain qualifications can experience relief from debt accrued in pursuit of higher education.
• Two previous efforts by Biden to fulfill a campaign promise to assist student loan borrowers were defeated in court. His third proposal would hand out $73 billion in student loan debt held by an estimated 27.6 million borrowers.
• In addition to Georgia and Missouri, Republican attorneys general in Alabama, Arkansas, Florida, North Dakota and Ohio are party to the lawsuit challenging the policy.
• Missouri state Attorney General Andrew Bailey celebrated Schelp’s decision on X, calling it a “huge win for transparency, the rule of law, and for every American who won’t have to foot the bill for someone else’s Ivy League debt.”

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