INDIANAPOLIS – A Texas federal judge has ruled a Biden administration student debt relief plan illegal Thursdayhalting the program again in federal court.
“It’s too easy to change majors and countless years and have a lot of loans and then will they be able to pay it back,” said Indianapolis resident Brenda Shafer.
The Job Creators Network Foundation filed a lawsuit last month alleging the plan violated federal procedural measures.
This is the second time the program has been suspended in federal court after a federal appeals court temporarily blocked the student debt relief program following a lawsuit filed by six state-led states. republicans.
“At one point we were paying $1,200 a month as teachers, so I completely understand the forgiveness side,” Chris Newbury said.
What does this potentially mean for borrowers who are currently in limbo – John McManus – a bankruptcy lawyer for McManus & Associates – he thinks borrowers are going to have to wait a while
“I believe what’s going to happen is it’s going to go all the way to the Supreme Court – whether the Supreme Court will hear the case, no one can say. Because it’s definitely a question of whether the president has that authority,” McManus said.
McManus advises waiting borrowers. He says to keep taking care of your student loans – don’t let them sit there.
“The worst thing they can do is trust it’s going to happen and do nothing and have it come back to haunt them in two years when it doesn’t and now they’re facing student loan debt. higher,” concluded McManus.
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