The Republican proposal would eliminate Grad PLUS loans, set strict limits on Parent PLUS loans and create a system in which colleges would be on the hook if their students don't repay their loans.
The 5th Circuit Court rejected a Education Department appeal on Wednesday, the latest setback in several parallel lawsuits. The administration is expected to ask the Supreme Court to weigh in.
The president has extended the student loan repayment pause into 2023. Biden said he wants to give lawsuits against debt cancellation time to play out, and the Supreme Court time to weigh in.
