Supreme Court Rejects Biden’s Student Loan Forgiveness Plan

In a long-awaited decision, the Supreme Court has issued a ruling striking down President Joe Biden’s unprecedented student loan forgiveness plan. This means that the initiative cannot proceed.

Here’s the latest.

Biden’s Student Loan Forgiveness Plan Was Tied Up In Legal Battle

Biden first announced his student debt relief plan last summer. The plan would provide borrowers who have government-held federal student loans with $10,000 or $20,000 in loan forgiveness, depending on whether they had received a Pell Grant for their education. Most federal student loan borrowers could qualify, including Parent PLUS borrowers and borrowers in default, as long as they had earned income in either 2020 or 2021 that did not exceed program limits (generally $125,000 for single borrowers, or $250,000 for married borrowers filing jointly).