Biden’s Student Loan Forgiveness Key Events and Turning Points
Biden’s Student Loan Forgiveness has been making headlines since August 2022, when President Joe Biden announced the administration’s program for student loan forgiveness, GoBanking Rates reported.
However, the road to Biden’s student loan forgiveness has been rough, with numerous lawsuits and demands causing delays.
Sept. 29, 2022: In September 2022, six Republican-led states filed a lawsuit against Biden’s student loan forgiveness, alleging that Biden violated federal law, the constitutional principle of separation of powers, and the Administrative Procedure Act when he implemented this policy without congressional authority.
Oct. 18, 2022: In October 2022, Biden’s student loan forgiveness application website launched after 8 million Americans took part in the beta test. The president said 8 million Americans had already applied for relief after the application process, GoBanking Rates reported.
Oct. 21, 2022: On October 21, the U.S. Court of Appeals for the 8th Circuit issued an injunction pausing Biden’s student loan forgiveness program while it reviewed the lawsuit filed by six states.
Nov. 10, 2022: Biden’s student loan forgiveness program encountered further setbacks when a federal judge in Texas struck down the program. They stated that the law does not provide the executive branch with clear congressional authorization to create a $400 billion student loan forgiveness program.
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Nov. 14, 2022: A federal appeals court issued a nationwide injunction on November 14, temporarily banning President Joe Biden’s student loan debt relief program.
Nov. 22, 2022: Despite the reverses, the Biden administration announced that the student loan pause would be extended to the end of June 2023. It was supposed to end on December 31, 2022, as it awaited the Supreme Court’s review of its student debt relief program.
Dec. 1, 2022: In December 2022, the Supreme Court agreed to listen to President Joe Biden’s student loan forgiveness program in February, a move the administration called “welcomed.” However, on December 30, 2022, a federal court declined to reverse a ruling blocking the program.
Jan. 4, 2023: In January 2023, the Biden administration officially filed a legal brief with the U.S. Supreme Court defending Biden’s student loan forgiveness plan to provide relief to 45 million American student loan borrowers, Investopedia reported. The Department of Justice also filed an 86-page brief, arguing that the Education Secretary’s actions fall within the law and that the plan is both reasonable and reasonably explained.
Jan. 20, 2023: Despite the challenges, Arizona’s new Democratic attorney general dismissed the lawsuit in January 2023, and dozens of organizations and individuals filed amicus briefs with the Supreme Court in support of Biden’s student loan forgiveness program.
Feb. 3, 2023: However, on February 3, 2023, 128 House Republicans and 43 Republican Senators petitioned the Supreme Court to stop the student loan forgiveness program.
Overall, Biden’s Student Loan Forgiveness program has faced numerous challenges, but the administration remains committed to providing relief to millions of American student loan borrowers. The program’s fate now rests in the hands of the Supreme Court, which will hear arguments in February 2023.
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