President Biden's Big Legal Success; Student Loan Relief
- Posted on August 15, 2023
- News
- By Sakshi Nawani
- 186 Views
President Biden achieved a significant legal
victory by securing student loan relief for borrowers who had been waiting for
years without forgiveness under their Income-Driven Repayment plans, with
804,000 borrowers set to benefit.
He has achieved this legal success for his
proposal of offering a less extensive form of relief for student loan debt.
This comes after the U.S. Supreme Court rejected his previous, more expansive
relief initiative.
On Monday, U.S. District Judge Thomas L.
Ludington dismissed a lawsuit brought forth by two conservative groups that
aimed to prevent 804,000 borrowers who had made payments for 20 to 25 years
from receiving $39 billion in student loan debt relief this month. Biden had
introduced this plan recently, shortly after the Supreme Court thwarted his
attempt to forgive approximately $400 billion in debt held by millions of
borrowers.
Joe Biden took to X app and stated, "I
promised to fix the student loan system that's failed borrowers for years.
Already, we've approved over $116 billion in
debt cancellation for 3.4 million Americans, and we’re not backing down –
No matter the roadblocks Republican officials
or special interests put in our way."
He mentioned that the actions of that day were
in addition to the accomplishments made for students and individuals with
student loans in the previous years. He highlighted achievements like securing
the biggest increases in Pell Grants in more than ten years and resolving
issues with the Public Service Loan Forgiveness program.
The POTUS further added that student loan
borrowers had not been granted forgiveness through their Income-Driven
Repayment plans for many years, even though they had been making payments for
more than two decades. He mentioned that, due to the actions taken by their
Administration, 804,000 borrowers would begin to observe their debt being
nullified.
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