... [+]
court hears two cases on student loan forgiveness to state the student debt relief is legal and needs to happen immediately on February 27, 2023 in Washington, DC. to try to stop the ongoing student loan pause. If a court forces an early end to the moratorium on student loan payments, interest, and collections, an abrupt return to repayment could be a disaster for millions of federal student loan borrowers. But the lawsuit itself may face some challenges.
The pause, which has suspended billing and frozen interest on all government-held federal student loans, has been in effect since March 2020. Originally intended to last six months under the CARES Act , President Trump and President Biden authorized several short-term extensions under the HEROES Act, which allows the Education Department to modify or waive federal student loan programs during national emergencies.
SoFi argues that Biden’s current extension is unlawful because rather than being tied to the pandemic emergency, the administration extended the student loan pause in response to the. That plan could wipe out up to $20,000 in federal student loan debt for millions of borrowers. SoFi argues that the pause has reduced its earnings and profits because far fewer borrowers are interested in refinancing their federal student loans while they have a zero precent interest rate and no payments due.
AdamSMinsky _brittanylewis RT SallieMae states students must pay now, they are not within the Federal scope. Is that true? SenWarren studentloanforgiveness
AdamSMinsky _brittanylewis I’ve never seen a greater level of incompetence than what exists in the Biden administration and the people that surround him. Whether it’s our economy, the border, crime or foreign relations, Joe Biden, and his people are fucking everything up.
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: axios - 🏆 302. / 63 Read more »