Nov 10 (Reuters) - A federal judge in Texas on Thursday ruled that President Joe Biden's plan to cancel hundreds of billions of dollars in student loan debt was unlawful and must be vacated, delivering a victory to conservative opponents of the program.
The debt relief plan had already been temporarily blocked by the St. Louis-based 8th U.S.
"The Program is thus an unconstitutional exercise of Congress's legislative power and must be vacated," Pittman wrote.
The non-partisan Congressional Budget Office in September calculated the debt forgiveness would eliminate about $430 billion of the $1.6 trillion in outstanding student debt and that over 40 million people were eligible to benefit.
The plan, announced in August, calls for forgiving up to $10,000 in student loan debt for borrowers making less than $125,000 per year, or $250,000 for married couples.