No payments till Aug… at least.
“ putting the matter on a fast-track timeline that should produce a final ruling by the end of June.”
The Supreme Court on Thursday agreed to decide whether the Biden administration can cancel student-loan debt for millions of Americans, putting the matter on a fast-track timeline that should produce a final ruling by the end of June.
The court, in an unsigned order, didn’t act on the administration’s emergency request that it be allowed to move forward with the debt relief immediately. But the justices set arguments on the matter for this winter, agreeing to the White House’s alternative request that the court take up the case to decide whether the debt forgiveness is a lawful exercise of presidential power.
The move speeds up the legal process by allowing the administration to obtain a final ruling from the Supreme Court without first having to wait for additional proceedings in lower courts that could have dragged out the litigation for another year or longer.
If the litigation hasn’t been resolved by June 30, payments will resume 60 days after that date, according to the Education Department. “It isn’t fair to ask tens of millions of borrowers who are eligible for relief to resume their student debt payments while the courts consider the lawsuit,” Mr. Biden said last month in a video posted to his Twitter account.
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Happy to see the Court working on this case quickly, even though it’s politically charged.
I enjoy how they keep leaving out what happens if the litigation is resolved by June 30 but not in the administration’s favor. Any ruling is only going to address the legality of loan forgiveness one way or the other, not the ongoing payment pause.
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fast-track timeline that should produce a final ruling by the end of June.
I’d be very surprised if anything resolves before then. It will be funny if people get a pause + forgiveness. At that rate GOP should be for gun control since they keep shooting themselves in the foot.
Hahahahahahaha.
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[quote=“meed18, post:814, topic:3982, full:true”] Hahahahahahaha.
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yep, incompetent private processors at their best. more lawsuits = more delays? haha?
So… If the forgiveness program deemed illegal, does it mean that any money spent on this contractor was equally illegally spent?
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yep, incompetent private processors at their best. more lawsuits = more delays? haha?
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something we can all agree on? Recoup all fees from these contractors back to the treasury. But that will never happen. I work w/ govt. contractors. Incompetence and guaranteed payouts (+ the incentive of bonus/ profit so they make millions of taxpayers
Don’t fall for election year promises, or scammers promising to help you.
Yeah looks like biden-student-loan-plan is dead
but they’re making a lot of behind the scenes changes in a lot of the other plans so I’m glad I made the move away from quasi private lenders to ED. Here’s one stat compared to like 10 people under previous admin. That’s what you get when you get an activist at the head of agency, vs a billionaire who makes money off charter schools. Wife is in line for PSLF
A judge has ruled that the Biden admin can no longer enforce Title 42 because the threat to public health has essentially ended. It has gone to the Supreme Court and guess what the Biden admin is arguing? They agree that enforcement of Title 42 should end because the pandemic is over, but they just want an extra week to get resources in place for the expected influx of “asylum seekers” after Title 42 enforcement officially ends. So the Biden admin has essentially told the Supreme Court this week that the COVID emergency is over. If anyone thinks that is helpful to them winning their case in February that they have a right to forgive student loan debt, I want some of whatever you are on.
The Biden admin has essentially given up on student loan debt forgiveness this week. Merry Christmas!
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I still wish there was some way to force restitution on them. And I’m not even referring to how they used the issue to manipulate an election.
Latest Biden pitch.
The proposed regulations would amend the terms of the Revised Pay As You Earn (REPAYE) plan to offer $0 monthly payments for any individual borrower who makes less than roughly $30,600 annually and any borrower in a family of four who makes less than about $62,400. The regulations would also cut in half monthly payments on undergraduate loans for borrowers who do not otherwise have a $0 payment in this plan. The proposed regulations would also ensure that borrowers stop seeing their balances grow due to the accumulation of unpaid interest after making their monthly payments.
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Is he trying to expand the number of career students? Seems like a pretty big disincentive to not do anything with your degree. I know, I know, cost of living on the coasts, $60k is nothing, blah, blah, blah - but around here there are tons of families of 4+ making less than $62k/year.
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Side benefit - more stay at home moms. My understanding is that a married woman can file as Married Filing Separately and then her husband’s income won’t count towards her REPAYE income calculation. Then after the kids are grown, just get a part time secretarial job and she’ll never have to pay her loans.
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$30,600 is approximately $15/hr full-time. All she’d really have to do is avoid getting a job that would make the cost of her degree worthwhile. It’s not even an incentive to stay at home, since you can work full time, or nearly full time, and not trigger repayment.
'Cause God forbid anyone suggest that in such a situation, there was no point in getting that college degree in the first place. That is the fact that any plan or program should start with.
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Coming up to the Supreme Court, where it probably will fail.
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Yep writing is on the wall when it comes to this plan, Seems like the crux is broad-based forgiveness Live updates: Student loan forgiveness Supreme Court arguments
Meanwhile, other “modification” plans continue while all the attention is on the BH 10K plan. Those will have a bigger impact on a lesser group of folks (including old timers like me who have paying for 20+ years on the “wrong” plan. They’re counting those as a one time adjustment moving us closer to 20/25 yr limit.
So i’m officially joining the anti broad forgiveness crowd, esp. after seeing all the pointless protestors 
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