Another court blocks Biden's student loan forgiveness plan: "No workable path"

A federal appeals court on Monday blocked the Biden administration's student loan forgiveness plan, placing yet another obstacle in the way of a program that had promised to forgive up to $20,000 in student debt for about 40 million Americans. 

The ruling from the 8th Circuit Court of Appeals comes in response to a lawsuit jointly filed six Republican-led states that argued the Biden administration was overstepping its executive powers. The litigation also alleged that Missouri's loan servicer would face a "number of ongoing financial harms" if the loans were forgiven and that the other states behind the suit would also see a disruption in revenue to their coffers.