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Supreme Court to hear student loans forgiveness plan
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The Supreme Court is finally going to decide the fate of student loans. They will issue rulings in two cases against President Joe Biden's plan to wipe out student loan debt for millions of borrowers.
President Biden announced his plan to offer relief to borrowers last August.
The plan would cancel $10,000 in federal student loan debt for those making less than $125,000 or households with less than $250,000 in income per year. Pell Grant recipients, who typically demonstrate more financial need, would get an additional $10,000 in debt forgiven.
By November, the plan was paused until all the legal challenges were heard.
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President Biden announced his plan to offer relief to borrowers last August.
The plan would cancel $10,000 in federal student loan debt for those making less than $125,000 or households with less than $250,000 in income per year. Pell Grant recipients, who typically demonstrate more financial need, would get an additional $10,000 in debt forgiven.
By November, the plan was paused until all the legal challenges were heard.
Follow us:
Download the WFMY News 2 app:
►Text the word APP to 336-379-5775
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