What’s Happening with student loan forgiveness?

The Biden administration’s student loan forgiveness program has been met with opposition from some states, and the issue is now before the Supreme Court. The program, which was designed to help borrowers struggling to repay their loans, would forgive up to $10,000 in federal student loan debt for borrowers with incomes up to $125,000.

Opponents of the program argue that it is an unconstitutional use of executive power. They argue that it is Congress’ job to provide relief for student debt, and that President Biden does not have the authority to unilaterally forgive these loans. Additionally, some states argue that providing such relief could lead to an increase in tuition rates, as the universities would no longer face the pressure to keep tuition costs low in order to maintain student loan payments.

The Supreme Court is currently considering the issue, and a decision is expected soon. If the court rules in favor of the Biden administration, the student loan forgiveness program could be implemented in the near future and provide much-needed relief to many borrowers. If the court rules against the Biden administration, the program will likely be halted, leaving many borrowers in a difficult financial situation.

https://www.cnn.com/2023/03/07/politics/student-loan-payment-pause-sofi-lawsuit-biden/index.html

https://q5i.09c.myftpupload.com/category/stories-this-moment/