Summer’s Post

The Higher Ed Policy Roundup is back this week with the latest details on: ◾ The Biden Administration’s proposal for federal student loan forgiveness; ◾ Issues with the new FAFSA and the impact on this year’s submissions; and ◾ A new estimate on the costs of the SAVE income-driven repayment plan. Get your higher ed policy update with the new Roundup!

📚 Student Debt Relief: A Complex Landscape Unfolds Federal judges in Kansas and Missouri have recently blocked key elements of President Biden's student loan repayment plan. This decision affects over 8 million borrowers, leading to delays in loan forgiveness and reduced payments. In contrast, the Biden administration has managed to cancel $1.2 billion in student debt, providing relief to many. The Iowa Attorney General has praised the rulings, highlighting the contentious nature of the debate. Meanwhile, former President Trump has criticized Biden's efforts, calling them illegal, and lawsuits continue to challenge the administration's initiatives. Stay informed on this evolving situation and its implications for borrowers across the nation. 🔗 Create your own media brief on any topic: https://bit.ly/3yYdN4d #StudentDebt #LoanForgiveness #EducationPolicy #BidenAdministration #LegalChallenges

What a crazy year it has been for the Class of 2024 High School Graduates. First FAFSA was delayed, causing much angst for families. Then, families had to make college decisions without necessarily having all of the financial information related to college costs for the upcoming school year. And now, parents are taking out student loans but are unclear as to the decisions that will be made by our polititcal parties and the courts... https://lnkd.in/eR5yAYSH #moneymatters #financialaid #collegecosts

📢 Breaking News: Appeals Court Blocks Key Parts of Federal Student Loan Relief Plan A recent Eighth Circuit Court of Appeals ruling, delivered on August 9, blocked significant portions of the Biden administration's Saving on a Valuable Education (SAVE) student loan forgiveness plan. The decision restricts the federal government from forgiving any principal or interest on loans under the SAVE plan, halts provisions that prevent interest accrual, and stops borrowers from making $0 payments based on their income. This injunction comes after several GOP-led states argued that the SAVE plan exceeds Congress's authority and could saddle Americans with an estimated $475 billion in student loan debt. The court's decision underscores the ongoing legal battles surrounding student loan relief and the limits of executive power. Despite this setback, the Biden administration has vowed to continue fighting for borrower relief, while supporters of the injunction, like Missouri Attorney General Andrew Bailey, view it as a win for American taxpayers. 🗨 Stay tuned for more updates on this critical issue affecting millions of borrowers nationwide. #StudentLoans #BidenAdministration #Education #LoanForgiveness #FinancialAid #LegalUpdate #HigherEducation #Economy #StudentDebtCrisis #Save

In case anyone missed this piece of news earlier, a new student loan plan being pushed by the White House looks to relieve borrowers of up to $20,000 in accrued interest on their loans. Who can take advantage of this? ➡ Single borrowers making less than $120,000 or couples making less than $240,000 ➡ Loans enrolled in an income-driven repayment plan Under this new addition, four sets of borrowers are automatically eligible: 💲 Borrowers with loan balances that have grown beyond the original amount borrowed 💲 Borrowers with loans in repayment for over 20 years 💲 Borrowers eligible for relief but haven't applied 💲 Borrowers whose college or program didn't deliver sufficient financial value Not sure what that last point means, but we'll see. Make sure to update your repayment strategy to take full advantage of this. #StudentLoanDebt #FinancialEmpowerment

🔍 Update on the Legal Challenges Against SAVE After SCOTUS decided not to end the injunction last month, the case returned to the 8th Circuit. This stage will involve a review of the key legal arguments from the Republican-led challenge, rather than just a decision on pausing the program. 🗓 The 8th Circuit scheduled a hearing for October 24, so a decision should follow shortly. Regardless of the outcome, the case will likely be appealed to the Supreme Court. Even if SCOTUS acts swiftly, a final ruling could come around summer 2025—possibly June. During this period, if borrowers remain in the SAVE plan forbearance, they could face up to a year without payments, interest accrual, or student loan forgiveness credits. The timeline could be extended further if proceedings are delayed. https://lnkd.in/gCq9Yq6b #studentloans #debt #relief #highereducation #financialaid #college #forgiveness

Two federal district courts on Monday issued orders that halt further implementation of the SAVE Plan. The orders were entered in response to lawsuits filed by lawmakers in Kansas and Missouri, and prevent the Department of Education from issuing any further loan forgiveness through SAVE and from reducing monthly loan payments under SAVE from 10% to 5% of borrowers’ discretionary income (a change that had been slated to be carried out on July 1). It’s expected that the Biden administration will fight this legal challenge, but for the time being, borrowers should expect that their monthly payment amount will remain the same. The orders do not, however, block borrowers from enrolling in SAVE, or reverse any payments made by or forgiveness granted to borrowers who are already enrolled in the repayment plan. Read more about this latest roadblock for federal student loan borrowers: https://lnkd.in/gJpDhZvF.

📢 Breaking News: Appeals Court Blocks Key Parts of Federal Student Loan Relief Plan A recent Eighth Circuit Court of Appeals ruling, delivered on August 9, blocked significant portions of the Biden administration's Saving on a Valuable Education (SAVE) student loan forgiveness plan. The decision restricts the federal government from forgiving any principal or interest on loans under the SAVE plan, halts provisions that prevent interest accrual, and stops borrowers from making $0 payments based on their income. This injunction comes after several GOP-led states argued that the SAVE plan exceeds Congress's authority and could saddle Americans with an estimated $475 billion in student loan debt. The court's decision underscores the ongoing legal battles surrounding student loan relief and the limits of executive power. Despite this setback, the Biden administration has vowed to continue fighting for borrower relief, while supporters of the injunction, like Missouri Attorney General Andrew Bailey, view it as a win for American taxpayers. 🗨 Stay tuned for more updates on this critical issue affecting millions of borrowers nationwide. #StudentLoans #BidenAdministration #Education #LoanForgiveness #FinancialAid #LegalUpdate #HigherEducation #Economy #StudentDebtCrisis #Save

📢 Breaking News: Appeals Court Blocks Key Parts of Federal Student Loan Relief Plan A recent Eighth Circuit Court of Appeals ruling, delivered on August 9, blocked significant portions of the Biden administration's Saving on a Valuable Education (SAVE) student loan forgiveness plan. The decision restricts the federal government from forgiving any principal or interest on loans under the SAVE plan, halts provisions that prevent interest accrual, and stops borrowers from making $0 payments based on their income. This injunction comes after several GOP-led states argued that the SAVE plan exceeds Congress's authority and could saddle Americans with an estimated $475 billion in student loan debt. The court's decision underscores the ongoing legal battles surrounding student loan relief and the limits of executive power. Despite this setback, the Biden administration has vowed to continue fighting for borrower relief, while supporters of the injunction, like Missouri Attorney General Andrew Bailey, view it as a win for American taxpayers. 🗨 Stay tuned for more updates on this critical issue affecting millions of borrowers nationwide. #StudentLoans #BidenAdministration #Education #LoanForgiveness #FinancialAid #LegalUpdate #HigherEducation #Economy #StudentDebtCrisis #Save

If you are a hard-working skilled tradesperson who abides by your commitments, this should infuriate you. If you are a college grad who paid your own student loan, this should infuriate you. "...‘People will remember who made their lives easier’.." “Not only will forgiving all the debt make individuals’ lives easier, but they’ll be able to spend more money in their local economies, which benefits small business[es] and the community as a whole. And at election time, people will remember who made their lives easier.”.." That is a direct quote! Yep - Making the lives easier by taking money from people who are responsible, who live up to the commitments they've made, to pay the debt for those who made bad decisions in taking on debt they can't pay back. This is the Biden Administration taking tax-payer money to buy votes. Not right. It's your loan - you signed up for it - no one held a gun to your head - you pay back your loan. The end. https://lnkd.in/dtQ3cCgp