When the Supreme Court struck down President Joe Biden’s $400 billion plan to forgive up to $20,000 in federal student loan debt for 43 million borrowers, the prospect of substantive debt relief appeared to vanish. But then millions of borrowers received surprise notices that their federal student loans were being eliminated through other government relief programs. The Biden administration has wiped out loans totaling $127 billion for 3.6 million borrowers — the biggest wave of student debt can
Student loan borrowers are facing complications and confusion with the restart of payments as President Biden’s new income-driven repayment (IDR) plan hits snags in its implementation. Before payments restarted after a three-year pandemic break, the Biden administration pushed the Saving on Valuable Education (SAVE) plan to help lower monthly payments, but it has been giving…
Student loan borrowers are facing complications and confusion with the restart of payments as President Joe Biden’s new income-driven repayment (IDR) plan hits snags in its implementation.