Tag Archives: Student Loan Debt Cancellation

The Department of Education yesterday announced a proposed rule that aims to lower the student loan payments being made by those with student loan debt, while completely pausing payments for individuals who make less than $30,600 per year. A copy of the proposed rulemaking can be accessed by clicking here. …

The Supreme Court yesterday agreed to hear arguments this term in a lawsuit over the Biden administrations plan to cancel up to $20,000 of student loan debt, while another appeals court issued a ruling upheld a lower court’s decision to temporarily halt the program, after 26 million individuals had applied …

The Biden Administration yesterday announced it was extending the moratorium on student loan payments until 60 days after litigation surrounding the plan to forgive up to $20,000 in unpaid student loans is resolved. If the litigation has not been resolved by June 30 of next year, payments will resume 60 …

A District Court judge in Texas yesterday granted summary judgment in favor of plaintiffs who sued the federal government seeking to block a program that would cancel up to $20,000 of student loan debt for individuals making less than $125,000 annually, ruling that the Biden Administration overstepped its authority when …

Individuals with student loans that had their payments paused during the pandemic are now falling behind on other credit products, according to data released this week by the Consumer Financial Protection Bureau. More than 7% of student loan borrowers who were not in default at the start of the pandemic …

Nearly 22 million individuals applied for the federal government’s student loan forgiveness program in its first week of operation, President Biden said on Friday, the same day that the Court of Appeals for the Eighth Circuit temporarily stopped the program from going into effect, following a lawsuit that was filed …

A group fighting to block a plan to forgive student loan debt has submitted a petition to the Supreme Court seeking an emergency injunction after a website went live this week accepting applications for the program. The group joins seven different state Attorneys General who are also fighting to keep …

The legal challenges to the federal government’s plan to cancel student loan debt for individuals making less than $125,000 a year have started, with a pair of suits claiming the administration failed to take the proper steps before announcing the plan. One lawsuit was filed by the Pacific Legal Foundation, …

The Biden Administration’s student loan debt cancellation plan will cost the government $400 billion, according to a report released yesterday by the nonpartisan Congressional Budget Office. The plan — under which individuals earning less than $125,000 annually will have $10,000 of their student loan debts forgiven, unless they received Pell …

Nearly two dozen governors — all of them Republicans — have sent a letter to President Biden, saying they “fundamentally oppose” the plan to cancel up to $20,000 of student loans for individuals across the country, saying that the price each American is going to have to pay to cover …