From: NoBody <NoBody@nowhere.com>
Newsgroups: alt.fan.rush-limbaugh,can.politics,alt.politics.trump,alt.politics.liberalism,alt.politics.democrats,alt.politics.usa.republican
Subject: Pay for your own education like the rest of us did!
Date: Sat, 24 Aug 2024 13:55:39 -0400
Organization: A noiseless patient Spider
8 million student-loan borrowers on Biden's new repayment plan just
got more bad news after a federal court officially blocked cheaper
payments and debt cancellation
Ayelet Sheffey
Fri, August 9, 2024 at 4:08 PM CDT
The 8th Circuit officially blocked the SAVE student-loan repayment
plan in its entirety.
It replaces its temporary stay on the plan from July, which paused
cheaper payments and debt relief.
Enrolled borrowers will likely be in limbo for long as the legal
process progresses.
The legal roller coaster for millions of student-loan borrowers
continues.
On Friday, the 8th Circuit Court of Appeals placed a preliminary
injunction on President Joe Biden's SAVE income-driven repayment plan,
intended to lower monthly payments and shorten the timeline for relief
for the 8 million borrowers enrolled.
If this sounds familiar, that's because it is: on July 18, the 8th
Circuit placed a temporary stay on the plan in response to a lawsuit
led by Missouri's attorney general to block the plan from being
implemented. This latest ruling replaces that stay, and it likely
means that enrolled borrowers will be in limbo for longer as the legal
process is carried out.
"Among the considerations here are that all borrowers currently
impacted by our administrative stay are in administrative forbearance
and thus not required to pay principal or interest on their loans,
borrowers who have remained in PAYE and REPAYE plans are not impacted,
and the States cannot turn back the clock on any loans that have
already been forgiven," the 8th Circuit said in its ruling.
The Education Department did not immediately respond to a request for
comment from Business Insider on what this latest ruling will mean for
borrowers. As a result of the legal challenges, the department has
already placed all enrolled borrowers on administrative forbearance,
during which the borrowers are not required to make any payments and
interest will not accrue.
more
https://www.yahoo.com/news/8-million-student-loan-borrowers-210800444.html