The Biden administration has begun the process of creating a new plan for widespread loan cancellation and implementing the SAVE Plan, which will cut monthly payments to $0 for millions of borrowers. There will also be a 12-month on-ramp period to ease borrowers back into making payments.
On June 30, the Supreme Court struck down President Bidens student loan cancellation plan, a major blow to tens of millions of working- and middle-class Americans who stood to benefit from the program.
Under Bidens plan, an estimated 20 million people were expected to be eligible to have their remaining debt fully canceled, with benefits overwhelmingly flowing to Americans earning under $75,000 per year.
However, hours after SCOTUS delivered its ruling…
Read the full article at: https://vadogwood.com/2023/07/21/how-biden-is-still-trying-to-make-student-debt-relief-happen/