Biden Student Loan Forgiveness Lawsuit Challenges President's Relief Efforts

A lawsuit has been filed against President Biden's student loan forgiveness plan, challenging its legitimacy. The lawsuit argues that the plan exceeds the President's authority and ignores the legal requirements for forgiveness.

The lawsuit claims that the President's plan would forgive up to $20,000 in student loans for eligible borrowers, but critics argue that this would be an abuse of executive power. This is a contentious issue, as some argue that it's a necessary step to address the burden of student loan debt.

The lawsuit specifically targets the Department of Education's plan to forgive loans without considering individual borrower circumstances. This means that borrowers who have made significant payments on their loans or have other financial obligations may not receive forgiveness.

Biden's Student Loan Plan has already made a significant impact, with his Education Department forgiving $180 billion in student debt for nearly five million borrowers as of Dec. 20, 2024.

This forgiveness tally includes a wide range of borrowers, with $78 billion going to 1,062,870 PSLF borrowers.

The Biden administration has also forgiven $56.5 billion for over 1.4 million borrowers through income-driven repayment, including the SAVE plan and the IDR waiver.

A significant portion of these borrowers, 1.6 million, are eligible for borrower defense or closed school discharges, totaling $28.7 billion in forgiveness.

Additionally, 572,000 borrowers with a total and permanent disability have received $16.2 billion in forgiveness.

Here's a breakdown of the types of borrowers who have received forgiveness:

Under Biden's Education Department, nearly five million borrowers have had $180 billion in student debt forgiven as of December 20, 2024.

This forgiveness tally includes a significant portion of borrowers who have been struggling to pay off their loans. $78 billion has been forgiven for 1,062,870 borrowers under the Public Service Loan Forgiveness (PSLF) program.

The income-driven repayment plan has also provided relief to over 1.4 million borrowers, with $56.5 billion in forgiveness. This includes borrowers who have been taking advantage of the SAVE plan and the IDR waiver.

A total of $28.7 billion has been forgiven for 1.6 million borrowers who are eligible for borrower defense or closed school discharges. This is a crucial lifeline for many students who were misled or deceived by their educational institutions.

In addition, $16.2 billion has been forgiven for 572,000 borrowers with a total and permanent disability. This is a vital form of support for individuals who are facing significant challenges in their daily lives.

Here's a breakdown of the student loan forgiveness under Biden's Education Department:

If you're struggling to make student loan payments, there are a few options to consider. You can request a student loan deferment or forbearance to temporarily pause payments, but be aware that interest may accrue during this time.

To get started, call your student loan servicer and ask about your options. A customer service representative can walk you through the process. For further assistance, reach out to a nonprofit student loan help organization.

If you skip payments without requesting a deferment or forbearance, you could face student loan default. This can result in collection costs, hits to your credit score, and calls from debt collectors.

To avoid scams, be cautious of companies that ask you to pay a fee upfront. Instead, start by contacting your student loan servicer or a nonprofit organization for free assistance.

As of December 2024, the Biden Administration has forgiven over $180 billion in student debt for nearly five million borrowers. This includes $78 billion for borrowers who qualified for Public Service Loan Forgiveness (PSLF) and $56.5 billion for borrowers who were enrolled in income-driven repayment plans.