CNBC by Annie Nova 1/27/2023
White House approves 16 million people for contested student loan forgiveness plan. Whether they see relief depends on Supreme Court decision
Key Points• The Biden administration has approved more than 16 million people for student loan forgiveness, but whether they see the relief will depend on the Supreme Court’s decision.
• The nine justices will hear oral arguments over the policy Feb. 28.
• Here’s a state-by-state breakdown of where those borrowers live.
The U.S. Department of Education has “fully approved” more than 16 million people for federal student loan forgiveness and sent their applications to loan servicers, the Biden administration announced Friday.
The administration gave a state-by-state breakdown of the number of borrowers who have applied and been approved for its sweeping debt relief program, which is on hold until the U.S. Supreme Court decides its fate.
In August, President Joe Biden announced that he’d forgive at least $10,000, and up to $20,000, in federal student loan debt for tens of millions of borrowers.
More:
https://www.cnbc.com/2023/01/27/16-million-people-approved-for-contested-student-loan-forgiveness-.html
