Student loans have always been a murky subject for many people, but the recent developments with loan repayments and forgiveness have made them all the more confusing.
Last year, President Joe Biden announced a plan to forgive up to $20,000 in student loans (or $10,000 for those who did not receive a Pell Grant) for borrowers earning under $125,000 per year.
Since then, the plan has been met with multiple lawsuits, and its fate is up to the Supreme Court — which is expected to announce its decision in the coming weeks.
Image source: Getty Images.
However, even if the plan is struck down, the Biden administration has a backup plan that can still provide loan relief to borrowers.
Will the Supreme Court strike down loan forgiveness?
In s…
Read the full article at: https://www.fool.com/student-loans/2023/06/03/heres-bidens-backup-plan-if-the-supreme-court-bloc/