Federal appeals court blocks remainder of Biden’s student debt plan [Video]

A federal appeals court blocked the implementation of the Biden administration’s student debt relief plan, which would have lowered monthly payments for millions of borrowers.In a ruling Thursday, the 8th Circuit Court of Appeals granted a motion for an administrative stay filed by a group of Republican-led states seeking to invalidate the administration’s entire student loan forgiveness program. The court’s order prohibits the administration from implementing the parts of the SAVE plan that were not already blocked by lower court rulings.Related video above: What to know about new plan to erase student debtThe ruling comes the same day that the Biden administration announced another round of student loan forgiveness, this time totaling $1.2 billion in forgiveness for roughly 35,000 borrowers who are eligible for the Public Service Loan Forgiveness program.The PSLF program, which provides relief for teachers, nurses, firefighters and other public servants who make 120 qualifying monthly payments, was …