Student loan forgiveness: Biden predicts student loan borrowers will start receiving relief within weeks, despite court challenge
President Biden predicted that student loan borrowers will start receiving relief -- which is currently on hold over a court challenge -- within weeks, projecting confidence that his administration will win the challenge.President Joe Biden predicted Thursday that student loan borrowers will start receiving relief -- which is currently on hold over a-- within weeks, projecting confidence that his administration will win the challenge.
The Biden administration started taking student debt forgiveness applications on Oct. 14 and officials have said it could take weeks to process and grant relief.Eligible borrowers won't be receiving actual checks. Instead, they will see up to a $20,000 reduction in their student debt balances. A federal appeals court put a temporary hold on the administration's student loan forgiveness program last week, which barred the government from canceling loans covered under the new policy while the court considers a challenge brought by six Republican-led states. The Biden administration is also facing lawsuits from Arizona Attorney General Mark Brnovich, and conservative groups such as the Job Creators Network Foundation and the Cato Institute.
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