Connect with us

Hi, what are you looking for?

News

Biden’s Latest Student Debt Relief Proposal Seeks to Avoid Supreme Court Challenge

Joe Biden (Credits: CNN)

President Biden’s latest student loan forgiveness program is drawing comparisons to his 2022 universal relief plan, but experts believe there are outstanding differences that could impact its success.

The Biden administration’s proposed plan targets specific groups of borrowers for relief, including those on income-driven repayment plans, individuals with over 20 years of loan payments, attendees of low-value institutions, those facing financial hardship, and those with unpaid interest growth.

Around 25 million Americans could receive partial or full forgiveness on their interest growth, while some borrowers on income-driven repayment plans may qualify for full forgiveness.

Joe Biden (Credits: The White House)

Unlike the 2022 plan, which faced legal challenges and a slow rollout, the current proposal aims for quicker implementation. Experts suggest that expediting relief distribution could mitigate legal obstacles and political backlash, making it more challenging for opponents to challenge the plan.

The Biden administration is leveraging the Higher Education Act (HEA) for this initiative, a departure from the emergency powers utilized during the pandemic. This legal foundation, combined with transparent regulatory processes, strengthens the plan’s legal standing and may bolster its resilience against potential lawsuits.

Joe Biden (Credits: CNN)

Republicans have criticized the proposal, labeling it a ploy to garner votes and questioning its fairness to borrowers who have already repaid their debts or never attended college.

However, the White House remains confident in the plan’s legality and effectiveness, anticipating legal challenges but asserting its commitment to student debt relief.

The plan could impact up to 30 million borrowers, offering relief to a substantial portion of Americans burdened by student loan debt. By adhering to regulatory protocols and legal frameworks, the Biden administration aims to steer potential obstacles and deliver relief to those in need.

Click to comment
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

We’re dedicated to providing you the most authenticated news. We’re working to turn our passion for the political industry into a booming online news portal.

You May Also Like

News

Spoilers! The demon Akaza from Kimetsu no Yaiba dies in the eleventh arc of the manga and the one responsible for his death is...

Entertainment

Actress Emma D’Arcy is from the British rebellion. She has only appeared in a small number of movies and TV shows. It might be...

Entertainment

Jennifer Coolidge Is Pregnant: Jennifer Coolidge Audrey Coolidge is a comedian and actress from the United States. Many of her followers are wondering if...

News

Mark Zuckerberg, in a letter to Jim Jordan, the chair of the House Judiciary Committee, disclosed that he had to remove millions of posts...