US Circuit Court of Appeals temporarily blocks Biden’s student loan delivery

The 8th Circuit Court of Appeals on Friday granted a motion to temporarily block President Biden’s student loan plan.

The appeals court ruled in favor of six Republican-run states that requested that Biden’s handout plan be stopped while the court processed his request for a restraining order.

Biden’s plan, which aims to eliminate up to $20,000 in student loan debt for college Pell Grant recipients and up to $10,000 for others who borrowed on federal student loans.

Handout requirements include an adjusted gross income of less than $125,000 for individuals and less than $250,000 for married couples.

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The appeals court’s decision comes just days after the White House approved the online application for the handout.

President Biden said the application portal easily accepted over 8 million applications during its testing phase last weekend.

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U.S. President Joe Biden delivers a speech following a tour of Volvo Group Powertrain October 7, 2022 in Hagerstown, Maryland. (Chip Somodevilla/Getty Images/Getty Images)

“As millions of people fill out the application, we will ensure that the system continues to function as smoothly as possible so that we can provide student loan relief to millions of Americans as quickly and efficiently as possible,” Biden said.

President Biden spoke on Friday about student loan issuance at Delaware State University.

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President Biden speaks Friday, October 7, 2022 at the Volvo Group Powertrain Operations facility in Hagerstown, Maryland. (AP Photo/Julio Cortez/AP Newsroom)

“Our student loan plan is lowering costs for Americans as they recover from the pandemic to give everyone a little more breathing room. I want to make it clear who will benefit most working people. Middle-class people,” Biden said. “More than 40 million Americans will benefit from this relief.

This is an evolving story. Fox Buisiness’s Aislinn Murphy and Reuters contributed to this report.

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