Federal judge rules in favor of Biden administration on student loan forgiveness.

• A federal judge will not renew a temporary restraining order against the Biden administration's student loan forgiveness plan, potentially providing relief to millions of Americans.
• The student loan forgiveness plan of President Joe Biden may be implemented, as per the ruling, prior to the November election.

A federal judge will not renew a temporary restraining order against the Biden administration's student loan forgiveness plan, potentially providing relief to millions of Americans.

An estimate by the Center for American Progress suggests that the plan could benefit up to three out of every four federal student loan holders when combined with previous administration efforts.

Late on Wednesday, U.S. District Judge Randal Hall in Georgia, who was appointed by former Republican President George W. Bush, handed the Biden administration a victory.

The student loan forgiveness plan of President Joe Biden may be implemented, as per the ruling, prior to the November election.

The lawsuit against the aid package by seven GOP-led states has led to the development of a new debt cancellation effort by the U.S. Department of Education, which the states claim is illegal.

Georgia was unable to sue against the relief plan and could not serve as the court venue, according to Hall's findings.

The judge ordered the case to be transferred to Missouri because the states believe that Biden's plan would negatively impact Mohela, the Missouri Higher Education Loan Authority.

The U.S. Department of Education spokesperson commended the judge's decision that Georgia lacked legal grounds for the lawsuit, but criticized the Republican effort to halt the relief.

Republican elected officials are continuing to fight against providing relief to their own constituents on their student loans, as reflected in this ongoing lawsuit, according to their statement.

"We will persist in our efforts to repair the faulty student loan system and offer assistance and relief to borrowers nationwide."

Biden's plan proposes to absolve student debt for four categories of borrowers: those who borrowed more than they repaid, long-term repayers, attendees of low-value schools, and those eligible for existing loan forgiveness but haven't applied.

This is breaking news. Please refresh for updates.