GOP may try to stop student loan forgiveness.

By The Exchange Team

Republican lawmakers may oppose President Biden's announcement last week to cancel tens of millions of Americans' college debt.

The Washington Post reports that GOP attorneys general from Arizona, Missouri, Texas and others are considering suing to stop loan forgiveness.

"The uncertainty for borrowers in the meanwhile is, I'm afraid, substantial," said Harvard law professor Laurence Tribe.

Last week, Biden stated that the majority of federal student loan holders will be eligible for some form of forgiveness.

The White House produced a 25-page Justice Department letter arguing that debt cancellation is "reasonable" under the Heroes Act of 2003.

This law allowed the executive branch to cancel student loans during national emergencies after Sept. 11.

Those trying to block the forgiveness will likely claim that the Heroes Act of 2003 doesn't grant the president the authorities he is seeking.