As Republicans consider bringing a legal challenge against President Joe Biden's historic move to forgive student debt, the Biden administration is firing back.
According to Abdullah Hasan, a White House spokesman, the GOP punishes the middle class with double standards.
Those who voted for a $2 trillion tax giveaway for the rich and had their own small business loan debt forgiven would be trying to keep millions of middle-class Americans in debt.
Biden's student loan forgiveness plan, which would cancel up to $20,000 for millions of borrowers, may be challenged by the right.
Some Republicans were working to stop a debt cancellation effort even before the president made his announcement.
Several Republican attorneys general are weighing their options on blocking the president's plan, including those from Arizona, Missouri, and Texas, and the Heritage Foundation.
It is sure to make millions anxious who just celebrated debt forgiveness last week. An extended legal challenge would put 43 million people's debts in limbo for the foreseeable future.
According to Kantrowitz, borrowers should not change their plans until the U.S. Department of Education makes its loan cancellation application available by October.
He advised not to make any big financial changes based on the expectation of student loan balances dropping soon.
“Even if a legal challenge does not succeed in blocking the president's plan, it will probably delay the loan forgiveness program," Kantrowitz said Friday on CNBC Twitter Spaces.