00:00It's Benzinga, and here's what's on the block.
00:03Seven Republican-led states have filed a lawsuit against the U.S. Department of Education challenging
00:07President Biden's latest student loan forgiveness plan.
00:11The states argue the plan is illegal following previous court-blocked efforts.
00:15They claim the administration aims to cancel loans without congressional approval and allege
00:19that loan servicers were instructed to begin canceling eligible loans prematurely.
00:24The plan, estimated to cost $147 billion, targets 25 million borrowers.
00:29For all things money, visit Benzinga.com.
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