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President Joe Biden is determined to provide debt forgiveness to federal student loan borrowers, despite more than a year of having his plans challenged and shot down in the courts.The ...
That debt relief was made possible through fixes to the income-driven repayment (IDR) forgiveness and Public Service Loan Forgiveness (PSLF) — programs President Biden described as “broken ...
President Joe Biden began working on his revised student loan relief plan after the Supreme Court blocked its first program in June 2023. The updated policy targets several groups of borrowers for ...
In the summer of 2023, the Supreme Court ruled to strike down Biden’s student loan forgiveness program, which would have canceled up to $20,000 of debt for roughly 43 million eligible borrowers.
This includes borrowers eligible for forgiveness under repayment plans such as the Saving on a Valuable Education Plan (SAVE) or targeted relief programs, or closed school loan discharges, except ...
In March 2020, the CARES Act passed by Congress included a pause on federal student loans repayments and interest until September 30, 2020. [8] On August 8, 2020, the Trump administration issued a memorandum instructing the Secretary of Education to pause on student loan payments and interest through December 31, 2020 using the authority ...
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