NEW: The lawsuit against student debt relief claimed student loan servicer MOHELA would lose financial revenue and harm the state of Missouri.
We FOIA'd MOHELA's financial documents and this is simply false. After cancelation, MOHELA will earn *more* revenue than ever before.
The Republican AG suit was rushed to SCOTUS without going through a basic fact finding or legal review process.
As a result, some of the basic claims argued before the Supreme Court went untested—until now.
To put it simply, their argument is a lie.
https://rooseveltinstitute.org/publications/the-suit-against-student-debt-relief-doesnt-add-up/
Last August, Pres. Biden announced his decision to cancel up to $20,000 in student debt. In February, six Rep. attorneys general sued to block this cancellation arguing that Missouri’s loan servicing company (MOHELA) would suffer financial revenue losses if enacted. A new analysis, published by the Roosevelt Institute and the Debt Collective, reveals that the financial loss claim is categorically false.
The Debt Collective