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(The Center Square) – A U.S. appeals court killed President Joe Biden’s SAVE plan to cancel hundreds of billions of dollars in student loan debt. Though Biden is out of office, the legal ...
On January 13, the Education Department announced $4.2 billion in debt cancellation for 152,000 borrowers, bringing the total student-debt relief under Biden to over $180 billion for 5.3 million ...
In August 2022, Biden announced a broad student-loan forgiveness plan using a legal strategy tied to the COVID-19 pandemic emergency that would have canceled up to $20,000 in student debt for ...
In February 2024, the Biden administration announced it would cancel $1.2 billion of student debt. The debt cancellation applies only to those enrolled in the Saving on a Valuable Education (SAVE) repayment plan who have been making payments for at least 10 years and who originally borrowed $12,000 or less for school. [162]
Student debt cancellation results in freedom from a financial burden that has weighed thousands of borrowers down," Natalia Abrams, president of the Student Debt Crisis Center, said in a statement.
In August 2022, the administration used the Act again to announce student debt cancellation of up to $20,000 and several other reforms. [7] [16] Following litigation brought by several Republican-led state governments, the Supreme Court ruled in Biden v. Nebraska (2023) that the statute did not permit the administration's debt forgiveness ...
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