Cierra Lemott 
What this means for those seeking loan forgiveness
Wednesday, a federal judge in Georgia ruled that President Joe Biden’s student loan forgiveness plan could be resumed. Another federal judge in Missouri has since halted this and is placing a temporary hold on the plan. The case was originally in Georgia but was moved to Missouri. What does this mean for those seeking student loan forgiveness?
At this point in time, Biden has canceled federal student loans for 9.5 percent of the nation’s debt. Though this is a step in the right direction, according to NewsWeek, the debt still currently stands at $1.6 trillion.
There have been disagreements on whether this student loan forgiveness is legal or not as Congress hasn’t given it the green light, according to Forbes. This is why the plan has been halted once again.
The student loan forgiveness would apply to people that fall into the following categories according to The Guardian:
- People who owe more than they first borrowed due to the interest that has accrued
- Those who have been paying off loans for at least 20 or 25 years, depending on circumstances
- Borrowers who were eligible for forgiveness under prior programs but never applied.
No significant changes are going to be taking place in the immediate future. This is a developing story and more updates will be provided as they come.
By Cierra Lemott, Columbia College Chicago alum
Instagram: @kodakscamera
X: @LemottCierra
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