The 8th U.S. Circuit Court of Appeals has granted an emergency stay pending the appeal of a lawsuit seeking to delay the scheduled rollout of the Biden administration’s promised student debt relief.
On Oct. 21, Biden said 22 million borrowers had already submitted their applications since the form first went live in beta form a week prior. The White House has stated an estimated 40 million borrowers would be eligible for cancellation. The debt relief application is still open. In response, the Biden administration in late September reversed cancellation eligibility for borrowers with commercially held FFELP loans.
If you qualify for debt relief and haven't applied, do so. It can't hurt, and you'll secure your spot in line if legal obstacles are cleared.
Source: Education Headlines (educationheadlines.net)
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