Missouri one of six states seeking to block Biden student loan forgiveness

A St. Louis-based federal appeals court has issued an administrative stay temporarily blocking implementation of President Joe Biden's plan to cancel billions in student loan debt.

Eighth Circuit Court of Appeals issued the stay Friday, Oct. 21, while it considers a motion from Missouri and five other Republican-led states to block the loan cancellation program, meaning the Biden administration cannot implement the plan while the court deliberates a decision.

The five states joining Missouri in the motion are Nebraska, Arkansas, Iowa, Kansas and South Carolina.

Biden said Friday nearly 22 million people have already applied for loan relief in the week since the White House made its online application available.

The plan, announced in August, cancels $10,000 in student loan debt for those earning less than $125,000 or households with less than $250,000 in income.

The Congressional Budget Office said the program will cost $400 billion over the next 30 years.

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