A federal judge in Missouri is set to hear arguments Wednesday on whether to stop the Biden administration from moving forward with plans to cancel up to $20,000 in student loan debt for more than 40 million people.
The decision will shut out an estimated 770,000 people from the program, according to an administration official. About 1.5 million other borrowers who have both commercial-FFEL and Direct Loans could also receive less debt relief as a result.it might pursue an order requiring borrowers who applied for consolidation before the cut off date to pay the former owner of their loans for the lost interest.
Biden announced $10,000 in relief for student loan borrowers making less than $125,000 annually, and an additional $10,000 for Pell Grant recipients. The Biden loan relief plan will cancel up to $10,000 in federal student debt for borrowers who earn up to $125,000 annually, or up to $250,000 for married couples. Borrowers who receivedIn defending the new loan forgiveness plan, the Biden administration has cited a 2003 law giving the executive branch broad authority to overhaul student loan programs.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Addison-Based Advocacy Group Is Behind a Federal Lawsuit Challenging Student Loan ForgivenessA lawsuit filed in Texas seeks to halt President Joe Biden's Student Debt Relief Plan because there was no public input before its approval.
Read more »
Libertarian group files amended complaint against Biden's debt cancellation planJUST IN | An Indiana man with a Libertarian group challenging plans for student debt cancellation has filed an amended complaint after a federal judge rejected its initial legal challenge saying he cannot be 'irreparably harmed' by the plan.
Read more »
Conservative advocacy group sues to block Biden's student-loan relief planA new lawsuit claims the plan bypassed public input and doesn't address the true cause of debt - college costs.
Read more »
Small business group files suit over Biden student loan plan | amNewYorkA small-business advocacy group has filed a new lawsuit seeking to block the Biden administration's efforts to forgive student loan debt for tens of millions of Americans — the latest legal challenge to the program.
Read more »
Small business group files suit over Biden student loan planA small-business advocacy group has filed a new lawsuit seeking to block the Biden administration's efforts to forgive student loan debt for tens of millions of Americans.
Read more »