Last week, two federal judges blocked President Joe Biden and his administration from moving forward with its plan to forgive more debt and lower monthly payments for student loan borrowers on theissued by federal judges in Kansas and Missouri
, stopped the administration from going ahead with the plan to lower monthly payments to 5% of borrowers' discretionary income from the current 10%. Additionally, the administration had to pause on more loan forgiveness until the courts reached a final decision.This decision doesn't dismiss or rule on either of the lawsuits that led to the injunctions, but allows borrowers to still see their monthly payments lowered while the courts work on a ruling.
The injunction in the Missouri-based suit prevents the administration from forgiving more debt for borrowers on the SAVE plan and implementing the shorter timeline to forgiveness until the court makes a final decision on the lawsuit either permanently stopping forgiveness or allowing it to proceed. Borrowers who originally had balances of $12,000 or less would have their loans forgiven after 10 years of payments on the plan, rather than 20 years for undergraduate borrowers with larger balances.. We'll teach you how to speak clearly and confidently, calm your nerves, what to say and not say, and body language techniques to make a great first impression. Sign up today and use code EARLYBIRD for an introductory discount of 30% off through July 10, 2024.