Student loan borrowers in limbo after court blocks Biden’s debt forgiveness
FSA no longer accepting applications
BOWLING GREEN, Ky. –The Biden administration is no longer approving applications for student loan forgiveness after a federal court brought the debt relief program to a halt.
Student loan borrowers are waiting in limbo after a federal judge in Texas declared the program illegal; this impediment coming after the Biden administration has already approved 16 million applications.
The Biden administration has already appealed the ruling.
Western Kentucky University says they’re keeping a close eye on the court rulings, the college learning as we learn.
WKU Director of Media Relations Jace Lux said, “I think right now everybody’s just kind of waiting to see ‘Is this going to be overturned at the appellate court level?’….We’re watching it closely so that we can be sure to give our students and recent graduates the most up to date and accurate information.”
The congressional budget office estimates President Biden’s student loan forgiveness will cost the federal government roughly $400 Billion.
The Education Department says they will hold on to all submitted applications.
Time will tell if this case ends up in the Supreme Court.