WASHINGTON (Michigan News Source) – The U.S. Supreme Court agreed on Thursday to take up the case regarding the Biden administration edict to cancel student loans, but the plan will remain blocked for now.
The court’s decision to hear arguments in three months means it is likely to determine whether the widespread loan cancellations are legal by late June.
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That’s about two months before the newly extended pause on loan repayments is set to expire.
Data indicates that 1.4 million student loan holders live in Michigan; they have racked up a total of $51.0 billion in debt.
Without the approval of Congress, Biden announced plans to forgive $10,000 in federal student debt forgiveness to those with incomes of less than $125,000, or households earning less than $250,000. In addition, he called for recipients of Pell Grants to be eligible for an additional $10,000 in relief.
