Supreme Court and Student Loan Forgiveness: What You Need to Know
The U.S. Supreme Court just heard arguments on President Biden’s student loan forgiveness.
More than 40 million borrowers who have student loans were excited to learn of President Biden’s student loan forgiveness plan.
The administration would forgive up to $10,000 of student loan debt for eligible borrowers, and up to $20,000 in student loan debt for eligible Pell Grant recipients.
Those borrowers applied for student loan forgiveness and were essentially approved, applications for the program were put on hold.
The hold is due to legal challenges from organizations claiming that student loan forgiveness violates the law.
The U.S. Supreme Court has heard arguments on student loan forgiveness and is expected to officially weigh in by June.
The weigh is in by June, when student loan payments are scheduled to resume.
If you have a student loan, you’re probably wondering what all of this means for you.
The Biden administration unveiled its student loan forgiveness plan during the pandemic.
The plan was designed to provide debt relief to millions of borrowers by forgiving up to $10,000 of student loan debt.