Student Loan Forgiveness: What’s The New Updates from the Biden Administration

After weeks of no updates, there is a new twist in the zover the federal student loan forgiveness program. We formally filed a legal brief with the U.S. Supreme Court defending our plan to provide relief to borrowers.

According to CNBC, a group of attorneys from the Department of Education and the Department of Justice filed office work which “argues that the demanding situations to the plan had been added with the aid of using events that failed to expose damage from the policy.” Per CNBC, authorities attorneys have argued that the definitive life of stated damage which, they argue, isn’t in evidence might be a demand to have a valid case. The prison group additionally “denied the declare that the Biden Administration become overstepping its authority, laying out its argument that it’s miles appearing withinside the law.”

In fact, The New York Times suggested that the attorneys offered the Heroes Act of 2003 as one defense, noting that thru this rules the White House does have the authority to transport ahead with the pupil mortgage alleviation application. The authorities’s attorneys advised that the pandemic might qualify as a state of affairs which “lets in the secretary of training to furnish alleviation in the course of instances of conflict or country wide emergency.”

US Education Secretary Miguel Cardona also released a statement last night, writing:
“We remain confident in our regulatory authority to enact this program, which will ensure that financial damage caused by the pandemic will not leave borrowers delinquent and insolvent.”

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The Supreme Court will begin soon

Fate of the relief program, which aims to provide one-time loan forgiveness payments of $10,000 to eligible borrowers and $20,000 to Pell grant recipients earning less than $125,000 la, is now in the hands of the Supreme Court. Arguments by both sides are scheduled to begin on February 28.