Two conservative groups are asking a federal court to block the Biden administration’s plan to cancel US$39-billion in student loans for more than 800,000 borrowers
Two conservative groups are asking a federal court to block the Biden administration’s plan to cancel $39 billion in student loans for more than 800,000 borrowers.
The Education Department called the suit “a desperate attempt from right wing special interests to keep hundreds of thousands of borrowers in debt.” The Biden administration announced July 14 that it would soon forgive loans for 804,000 borrowers enrolled in income-driven repayment plans. The plans have long offered cancellation after borrowers make 20 or 25 years of payments, but “past administrative failures” resulted in inaccurate payments counts that set borrowers back on their progress toward forgiveness, the department said.
Under the one-time fix, past periods in forbearance were also counted as progress toward Public Service Loan Forgiveness, a program that offers cancellation after 10 years of payments while working in a government or non-profit job. The conservative groups say Biden’s plan undercuts Public Service Loan Forgiveness. The Mackinac Center and Cato Institute say they employ borrowers who are working toward student loan cancellation through the program. They say Biden’s action illegally accelerates progress toward relief, diminishing the benefit for non-profit employers.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Two-time Stanley Cup champion, Jack Adams winner Bob Murdoch dies age 76Bob Murdoch, a two\u002Dtime Stanley Cup champion and a former NHL defenceman has died at the age of 76.
Lire la suite »
Two new wildfires confirmed in northeastern OntarioNeither is under control
Lire la suite »
5 people injured in two-vehicle crash in Ottawa's south endEmergency crews responded to the crash on Prince of Wales Drive, between Amberwood Court and Fallowfield Road, shortly before 6 p.m. Friday.
Lire la suite »
Hinako Shibuno maintains two-shot lead after second round of the Women’s Scottish OpenJapan’s Hinako Shibuno shoots 4-under 68 to hold onto two-shot lead at Women’s Scottish Open
Lire la suite »
Two-time Stanley Cup champion, Jack Adams winner Bob Murdoch dies age 76Bob Murdoch, a two\u002Dtime Stanley Cup champion and a former NHL defenceman has died at the age of 76.
Lire la suite »