Millions of Americans are waiting to find out if President Joe Biden's student loan forgiveness plan will be allowed to go into effect. Here's what to know:
Who Will Be Eligible for Student Loan Forgiveness?
The White House said in January that more than 16 million people had been approved for debt relief out of 26 million who had applied in the four weeks that the application was available.The Supreme Court heard oral arguments in cases challenging Biden's plan in February. "I think most casual observers would say if you're going to give up that much ... money, if you're going to affect the obligations of that many Americans on a subject that's of great controversy, they would think that's something for Congress to act on," Roberts said, The Associated Press reportedsaid it"seems problematic" for the administration to use an"old law" to unilaterally implement a debt relief program that Congress had declined to adopt.
"And don't forget, some of the same members of Congress who want to cut student aid personally received loans to keep their small businesses afloat during the pandemic."A three-year pause on student loan payments prompted by the COVID pandemic will soon come to an end.
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