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Douglas Rissing - 2 Biden - 2 Gregory Caldeira - 1 wouldn't - 1 Caldeira - 1 Dan Urman - 1 Urman - 1 Elizabeth Prelogar - 1
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☆ When will the Supreme Court rule on Biden's student loan forgiveness? What borrowers need to know
  + stars: | 2023-06-08 | by ( Annie Nova | ) www.cnbc.com   time to read: +3 min
For a number of reasons, Dan Urman, a law professor at Northeastern University, also predicts that student loan forgiveness won't survive the Supreme Court. Striking down forgiveness will add to growing skepticism that the conservative justices vote for conservatives, and the liberal justices vote for liberals. Dan Urman law professor at Northeastern UniversitySuch a politically fueled decision, however, is likely to further damage the public's perception of the judicial branch, Urman said. "Striking down forgiveness will add to growing skepticism that the conservative justices vote for conservatives, and the liberal justices vote for liberals," Urman said. Fordham law professor Jed Shugerman had tweeted after the February arguments that he was "struck by SG Elizabeth Prelogar's brilliant performance."
Persons: Douglas Rissing, Biden, Gregory Caldeira, wouldn't, Caldeira, Dan Urman, Urman, Elizabeth Prelogar, Jed Shugerman, SG Elizabeth Prelogar's, Shugerman, What's Organizations: U.S, Supreme, Istock, Getty, Republican, Ohio State University, CNBC, Northeastern University, Gallup, Fordham
☆ 3 big changes student loan borrowers could see when payments restart
  + stars: | 2023-06-06 | by ( Annie Nova | ) www.cnbc.com   time to read: +2 min
A new income-driven repayment optionThe Biden administration is working to roll out a new, more affordable repayment plan for student loan borrowers. Instead of paying 10% of their discretionary income a month, under the new program — the Revised Pay as You Earn Repayment Plan — borrowers would be required to pay 5% of their discretionary income toward their undergraduate student loans. Previously, a borrower who made $40,000 a year would have a monthly student loan payment of around $151. Similarly, someone who earned $90,000 a year could see their monthly payments shrink to $238 from $568, Kantrowitz said. The payment plan should become available by July 2024, he said, although, "it is possible that the changes could be implemented earlier, as the U.S. Department of Education has the flexibility to implement regulatory changes sooner in certain circumstances."
Persons: Douglas Rissing, Biden, Kantrowitz, they'd Organizations: Istock, Getty, U.S . Department of Education, Pennsylvania Higher Education Assistance Agency, Granite State Locations: Pennsylvania, Granite
☆ Supreme Court challenges to Biden student loan plan hinge on overreach, financial harm
  + stars: | 2023-02-02 | by ( Annie Nova | ) www.cnbc.com   time to read: +3 min
The law is a product of the 9/11 terrorist attacks, and an earlier version of it provided relief to federal student loan borrowers impacted by the attacks. However, the states counter that the Heroes Act allows the Education secretary only to modify the federal student loan system to keep certain borrowers from being in a worse-off position with their loans because of a national emergency. In other words, higher education expert Mark Kantrowitz said, the states are asserting that Biden is using Covid as an excuse to pass his plan. The states also argue that Biden's plan would cause financial harm to their states, including a loss of profits for the companies that service federal student loans. The attorneys also denied the claim that the Biden administration was overstepping its authority, laying out the White House's argument that it is acting within the law under the Heroes Act of 2003.
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