Republicans have temporarily won their battle to stop Biden ‘s student relief program that was set to begin within a matter of hours across America. On Friday, a judge paused the program pending further review allowing the GOP additional time to have their case heard on the grounds that they claim the move(s) are entirely illegal but have no basis as to why. This should be a reminder folks that GOPers across the board had PPP loans forgiven to the tune of hundreds of thousands of dollars and nobody batted an eyeball.
Democrats and the Biden Administration are actively working behind the scenes to determine how to proceed.
Right now about 700,000 people are out of luck with forgiveness altogether while the rest are waiting to hear the outcome of the GOPs attempt to force everyone into lifelong economic oblivion. As it stands, the GOP has forced the Biden Administration into consolidating the plan only into allowing those who have government loans but the plan is still paused. People who have private loans due to the GOPs complaining must’ve consolidated their loans before 29 September.
As a result of the complaint, the Biden Administration was forced to exclude private borrowers for example due to a complaint out of Missouri. Borrowers at least some are probably familiar with a servicer called MOHELA, who complained in a suit that by allowing people to consolidate their loans the company would be deprived of the ‘ongoing’ revenue in which it earns from the predatory student loans.
Federal Direct Loans, including subsidized loans, unsubsidized loans, parent PLUS loans and graduate PLUS loans, are eligible.
While borrowers with FFEL and Perkins loans who kept paying their bills on time remain ineligible, defaulted federal loans taken outunder any program are eligible.
The application for forgiveness can be found online here.
Editors Note: We are covering this story extensively so check back frequently for more information as we continue to learn more information and follow the case.
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