A federal appeals court has blocked the implementation of the Biden administration’s student debt relief plan, which would have lowered monthly payments for millions of borrowers.
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WASHINGTON (AP) — A federal appeals court blocked the implementation of the Biden administration’s student debt relief plan, which would have lowered monthly payments for millions of borrowers.
The PSLF program, which provides relief for teachers, nurses, firefighters and other public servants who make 120 qualifying monthly payments, was originally passed in 2007.
The Biden administration adjusted some of the programs rules and retroactively gave many borrowers credits towards their required payments.
In June, federal judges in Kansas and Missouri issued separate rulings that blocked much of the administration’s plan to provide a faster path towards loan cancellation and reduce monthly income-based repayment from 10% to 5% of a borrower’s discretionary income.
The 10th Circuit Court of Appeals issued a ruling that allowed the department to proceed with the lowered monthly payments.
“And, we won’t stop fighting against Republican elected officials’ efforts to raise costs on millions of their own constituents’ student loan payments.”
🤖 I’m a bot that provides automatic summaries for articles:
Click here to see the summary
WASHINGTON (AP) — A federal appeals court blocked the implementation of the Biden administration’s student debt relief plan, which would have lowered monthly payments for millions of borrowers.
The PSLF program, which provides relief for teachers, nurses, firefighters and other public servants who make 120 qualifying monthly payments, was originally passed in 2007.
The Biden administration adjusted some of the programs rules and retroactively gave many borrowers credits towards their required payments.
In June, federal judges in Kansas and Missouri issued separate rulings that blocked much of the administration’s plan to provide a faster path towards loan cancellation and reduce monthly income-based repayment from 10% to 5% of a borrower’s discretionary income.
The 10th Circuit Court of Appeals issued a ruling that allowed the department to proceed with the lowered monthly payments.
“And, we won’t stop fighting against Republican elected officials’ efforts to raise costs on millions of their own constituents’ student loan payments.”
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