Biden plan to cut student loan payments could be in for legal battle
Starting this summer, millions of Americans with student loans will be able to enroll in a new repayment plan that offers some of the most lenient terms ever.
Student loans
Student loan resumptions might be felt by retailers, restaurants
Just as the American economy is struggling with high inflation and interest rates, the coming resumption of student loan payments poses yet another potential challenge.
IBJ Podcast: Pete The Planner on potential student loan tumult and its wider economic threats
Federal student loan borrowers haven’t been required to make loan payments since March 2020. But the grace period is almost over: Some 44 million borrowers will be required to either begin or continue making payments in September.
Biden vetoes GOP-led effort to strike down student loan forgiveness program
The student loan forgiveness program faces legal challenges, and the Supreme Court is set to issue a ruling on its legality before the end of June.
Senate rejects Biden’s student loan forgiveness program
While President Biden has promised to veto the bill, the vote in the Senate, in which two Democrats and an independent sided with Republicans, shows the divisiveness of the student loan policy and the difficulty of getting any future plan through Congress.
House votes to overturn Biden’s student loan-forgiveness program
The measure would also end the pause on federal student loan payments, a policy first introduced by the Trump administration in response to the coronavirus pandemic more than three years ago.
Bank sues to block Biden’s pause on student loan payments
SoFi Bank argues the moratorium has no legal basis and has cost the bank, known for its refinancing business, millions of dollars in profits.
Conservative justices question Biden student loan forgiveness plan
In questioning on Tuesday, Chief Justice John Roberts pointed to the wide impact and expense of the program, which is estimated to cost $400 billion over 30 years.
Biden’s student loan forgiveness program comes before Supreme Court
President Biden’s far-reaching initiative to forgive student loan debt will be debated this week before a Supreme Court that is skeptical of the administration’s bold claims of power—a nearly half-trillion-dollar showdown that could affect more than 40 million Americans.
Data shows 542K Hoosiers applied for student debt relief from embattled loan forgiveness program
Next month, the Supreme Court will hear oral arguments in two cases seeking to overturn the debt relief policy that conservatives have panned as an expensive giveaway and executive overreach.
Feds propose ‘student loan safety net’ alongside forgiveness
President Joe Biden is moving forward with the repayment plan even as his one-time debt cancellation faces an uncertain fate before the Supreme Court.
Biden’s student-loan plan to get expanded review from Supreme Court
The U.S. Supreme Court has expanded a planned showdown over President Joe Biden’s student-loan relief plan, saying it will hear arguments from two borrowers who contend they are being unfairly excluded from the full scope of the program.
Supreme Court keeps student-loan cancellation plan blocked for now
The Supreme Court on Thursday agreed to take up the case in late winter. The court’s decision to hear arguments relatively quickly means it is likely to determine whether the widespread loan cancellations are legal by late June.
Biden’s bid to restore student-debt relief rejected by another court
Wednesday’s ruling by a three-judge panel of the New Orleans-based court is the latest blow to a plan that has been shadowed by legal doubt since President Joe Biden announced it in August.
Appeals court grants injunction against Biden’s student loan forgiveness
The future of President Biden’s student loan forgiveness program remains in doubt after a federal appeals court issued an injunction preventing the government from discharging any debt while it considers a lawsuit to end the policy.
U.S. judge in Texas strikes down Biden loan-forgiveness plan
A U.S. judge on Thursday blocked President Joe Biden’s plan to provide millions of borrowers with up to $20,000 apiece in federal student-loan forgiveness.
Court temporarily blocks Biden’s student loan forgiveness
Attorneys for six Republican-led states are asking a federal appeals court to reconsider their effort to block the Biden administration’s program to forgive billions of dollars in student loan debt.
Judge dismisses six-state effort to halt student loan forgiveness plan
Earlier Thursday, Supreme Court Justice Amy Coney Barrett rejected an appeal from a Wisconsin taxpayers group seeking to stop the debt cancellation program.
Small business group files suit over Biden student loan plan
The new suit is one of a growing number of legal challenges against the proposal laid out by President Joe Biden in late August to cancel up to $20,000 in debt for certain borrowers.
Biden administration narrows eligibility for student debt cancellation
Hundreds of thousands of borrowers could be shut out of the student debt relief promised by President Biden after the Education Department announced Thursday that privately held loans will not be forgiven.