Newly uncovered documents show that the Republican states fighting Joe Biden’s student loan forgiveness plan have made false claims that they will “suffer injuries”, or rather, be financially impacted by the scheme, a debt forgiveness campaign group has claimed.
The supreme court case that will decide the fate of Joe Biden’s student loan forgiveness plan, Nebraska v Biden, rests on one of the plaintiffs, Missouri’s state attorney general, who claims Mohela – as the higher education loan authority of the state of Missouri is known – will be financially affected by the plan for the worse.
The Student Debt Collective, an organization that fights financial exploitation and unjust debts, along with the liberal thinktank the Roosevelt Institute, submitted a Freedom of Information Act request to make public documents that refute Mohela’s claim it will suffer financial consequences as a result of the plan.
Internal emails containing company calculations reveal that even after the debt cancellation is enacted, Mohela would not lose revenue. In fact, the opposite would be true, the groups said. “After President Biden’s proposal is enacted, MOHELA’s direct loan revenue will actually be larger than any prior point in the company’s existence,” the activist groups wrote in a statement.
One internal company document, called the “Forgiveness Impact Summary”, outlines what would happen if the loan forgiveness plan were enacted.
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