President’s latest approval brings total debt cancellation under his administration to $127bn for nearly 3.6 million people
President Joe Biden has announced an additional 125,000 people have been approved for student debt relief in a total of $9bn.
Biden’s latest approval brings the total approved debt cancellation under his administration to $127bn for nearly 3.6 million Americans, the White House said in a statement.
Continue reading...Announcement comes two months after supreme court struck down Biden’s original debt forgiveness plan
Federal student loan borrowers can expect “the most affordable student loan plan ever”, Biden said in a video address on Tuesday announcing significant changes to the debt from higher education held by over an eighth of the country.
The announcement comes nearly two months after the US supreme court struck down Biden’s original student debt forgiveness plan that would have forgiven $20,000 of federal student debt for borrowers who were Pell grant recipients and up to $10,000 of debt for other borrowers.
Continue reading...Ro Khanna of California said he will support another relief plan that Joe Biden is proposing under the Higher Education Act
The US supreme court’s decision to strike down Joe Biden’s student debt forgiveness plan late last week “usurped the authority of Congress”, Democratic House representative Ro Khanna said on Sunday.
Khanna, of California, argued that if anyone thought Biden was unduly empowered by the legislation which the president used to issue the debt relief program, “then the solution is Congress can repeal the … act”.
Continue reading...President says ‘the court misinterpreted the constitution’ as he announces intention to use another law for debt forgiveness
Joe Biden vowed the “fight was not over” on Friday after the US supreme court ruled against his landmark student debt forgiveness plan.
“I think the court misinterpreted the constitution,” the president said, delivering remarks at the White House and announcing his intention to pivot to another law to find another path forward.
Continue reading...Republican states fighting Joe Biden’s plan falsely said they’d be financially impacted by the scheme, debt forgiveness group claims
Newly uncovered documents show that the Republican states fighting Joe Biden’s student loan forgiveness plan have made false claims that they will “suffer injuries”, or rather, be financially impacted by the scheme, a debt forgiveness campaign group has claimed.
The supreme court case that will decide the fate of Joe Biden’s student loan forgiveness plan, Nebraska v Biden, rests on one of the plaintiffs, Missouri’s state attorney general, who claims Mohela – as the higher education loan authority of the state of Missouri is known – will be financially affected by the plan for the worse.
Continue reading...Federal appeals court temporarily halts Biden’s cancellation of student debt after motion brought by six Republican-led states
The Biden administration is urging student loan borrowers to continue applying for debt relief despite a federal appeals court order late on Friday that temporarily halted this program.
“[This] temporary order does not prevent borrowers from applying for student debt relief,” White House press secretary Karine Jean-Pierre said in a statement following the eighth circuit court of appeals’ temporary stay.
Continue reading...Program has been paused as the court considers a motion filed by six Republican-led states
Joe Biden’s plan to cancel billions of dollars in federal student loans has been temporarily halted by a federal appeals court as it considers a motion from six Republican-led states to block the program.
The eighth circuit court of appeals issued the temporary stay on Friday, ordering the Biden administration not to act on the program while it considers the appeal.
Continue reading...Many have been paying thousands of dollars in interest alone, with their principal debt hardly affected despite monthly payments
In 2001, Karen Herrera of Minnesota took advice from a Sallie Mae representative to consolidate her student loan debt with her husband’s. They both worked in the public sector, but due to their type of loans, they did not qualify for public service forgiveness. Herrera lost her job in 2009 due to the economic recession, and though the couple filed for bankruptcy, their student loan debts remained.
Herrera and her husband have continued to make monthly payments throughout the pandemic, as their loans through the Federal Family Education Loan Program were not eligible for the pause on payments.
Continue reading...Many of the workers risking their lives amid the pandemic are burdened with student debt. We owe them more than just applause
Every day at 7pm, New Yorkers have cheered, applauded and banged pots and pans for frontline workers. One of those they have cheered for is Shana-Kay Henry, a physician assistant in the city, who, like thousands of others, is praised as a hero for her brave caretaking efforts during the pandemic.
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