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Approximately 26 Million People Have Already Applied for Biden’s Student Loan Forgiveness Program

Approximately 26 Million People Have Already Applied for Biden’s Student Loan Forgiveness Program

“But the administration is not able to begin discharging student loans.”

It turns out free money is pretty popular. Who knew?

Inside Higher Ed reports:

More Than 26 Million Apply for Student Loan Forgiveness

Nearly 26 million Americans have applied for relief under the Biden administration’s student loan forgiveness plan, the White House announced Thursday.

The administration said 16 million applications will be approved by the end of the week. The application for debt relief opened up three weeks ago. Under the plan, eligible Americans can see up to $10,000 forgiven, while those who received a Pell Grant can get $20,000 forgiven. The administration expects more than 40 million people to benefit from the plan.

But the administration is not able to begin discharging student loans. Last month, the U.S. Court of Appeals for the Eighth Circuit granted a request for an emergency stay from six Republican-led states that have sued to block the administration’s plan.

Both sides in the lawsuit have filed briefs on the motion for an injunction, but the court has not yet issued a ruling. The administration is fighting several other lawsuits against the plan, but none have been successful yet.

“If Republican officials get their way, tens of millions of Americans’ monthly costs will rise dramatically when student loan payments resume next year,” White House officials said in a fact sheet released Thursday.

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“If Republican officials get their way, tens of millions of Americans’ monthly costs will rise dramatically when student loan payments resume next year,” White House officials said in a fact sheet released Thursday.”

Fat chance Democrats would ever be this solicitous about my taxes.

Payments will resume as they should have long ago.

Pay your loans, get on a repayment plan. Follow a career for your education rather than a hobby and you can even get it paid for in many cases.

Simply a diversion. The Department of Education has rewritten repayment rules so that instead of totally eliminating the debt, repayment rules will be so minimal that borrowers will be required to repay literally cents on the dollar with a specified end dat.

Don’t blame the applicants for this one. Who turns down “free” money?

We have to apply?

BierceAmbrose | November 7, 2022 at 2:13 pm

There is no program.

The apparatus they spun up, getting way over their skis, ran into hard approvals, and allocations the administration didn’t bother to even try to secure. Administration by speech isn’t enough even with a pen and a phone.

Sorry they faked you out, suckers. Kinda like the useless “eduction” you’re now on the hook for. It’s like they knew you’d sell your votes for a pocket full of mumbles, such are promises.