The Supreme Court is set to hear oral arguments on Tuesday over President Biden's student loan debt relief plan, which aims to wipe away up to $20,000 of student debt for more than 40 million Americans.
FILE - New graduates line up before the start of a community college commencement in East Rutherford, N.J., May 17, 2018. A federal judge in St. Louis on Thursday, Oct. 20, 2022, dismissed an effort by six Republican-led states to block the Biden administration's plan to forgive student loan debt for tens of millions of Americans.
The plaintiffs in both cases argue that the Biden administration’s Department of Education is overstepping its authority to provide one-time debt relief under a 2003 law.to modify student loan balances in the instance of a national emergency. The Biden administration says the COVID-19 pandemic qualifies as such an emergency.
If the Supreme Court rules that the Biden administration’s student debt relief plan can be implemented, who would qualify and what type of relief would they receive?Biden's student debt cancellation plan that he proposed in August was to cancel $10,000 for all federal student loan borrowers that have loans owned by the Department of Education. Borrowers are eligible for this relief if their individual income is less than $125,000; $250,000 for married couples.
I'll also add, while folks are waiting for their approval letters and other communications related to all sorts of programs, we are seeing from our supporters and from borrowers everywhere that they're getting letters in the mail, they're getting phone calls, they're seeing on social media these opportunities to apply for programs, and these opportunities are coming from third-party companies that are often “get relief” scams.
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