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Biden Vetoes Bill to Cancel Student Loan Forgiveness Program.

President Biden has vetoed a bill passed by Congress that would have nullified his student loan forgiveness plan and most recent extension of the student loan pause. However, as part of a compromise to raise the debt ceiling, Biden agreed to officially end the student loan pause later this summer. The Supreme Court is expected to rule on Biden's student loan forgiveness plan this month, and advocates are urging the administration to consider a backup option in case of an adverse ruling.

3 years ago•Source: Forbes

"Updates and Challenges in Student Loan Forgiveness and Repayment"

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6.08 min•3 years ago

"Updates and Challenges in Student Loan Forgiveness and Repayment"

The Biden administration's IDR Account Adjustment initiative will result in accelerated student loan forgiveness for many borrowers. The Education Department has released new guidance that expands eligible loan periods that can count toward loan forgiveness, including Parent PLUS loans and recent default periods. Consolidation can also accelerate student loan forgiveness. The IDR Account Adjustment will be implemented automatically for borrowers with government-held federal student loans, and discharges are expected to begin later this year. House Republicans are moving forward with plans to repeal several Biden administration student loan forgiveness initiatives.

via Forbes

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Biden Vetoes Bill to Cancel Student Loan Forgiveness Program.

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