... [+]Three schools have taken steps to appeal a settlement agreement that, if implemented, would result in an estimated
for over 200,000 borrowers. Implementation of the agreement was set to begin this week, but now borrowers who stand to benefit from the settlement may have to wait.In November, a federal courta settlement agreement between the U.S. Department of Education and a class of federal student loan borrowers to resolve a long-running lawsuit over stalled student loan forgiveness applications under the Borrower Defense to Repayment program.
Under the settlement agreement, the Biden administration would provide $6 billion in student loan forgiveness for over 200,000 borrowers who submitted Borrower Defense applications prior to June 2022 and attended one of the schools on an approved list of institutions. Borrowers would also be entitled to refunds of past payments as well as credit repair.