House Republicans are moving forward with a plan that would reverse student loan forgiveness approvals for millions of borrowers, setting up a showdown with Congressional Democrats and President Biden.
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The Congressional Review Act legislation at issue here would repeal Biden’s one-time student loan forgiveness plan, which would cancel $10,000 or $20,000 in federal student loans for over 30 million borrowers. That debt relief plan has been blocked by federal courts since last fall in response to legal challenges. The Supreme Court is, which has now been ongoing for over three years.
before the application process was halted in response to legal challenges. If the Republican-led plan is successful, those 16 million approvals would be reversed.In addition, borrower advocates are warning that repealing Biden’s most recent extension of the student loan pause could actually result in the reversal of student loan forgiveness already approved for tens of thousands of borrowers.
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