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Search resuls for: "Dan Mangan Annie Nova"


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☆ Supreme Court questions Biden administration lawyer on legality of student loan relief that would affect 40 million borrowers
  + stars: | 2023-02-28 | by ( Dan Mangan Annie Nova | Dan Mangan | Annie Nova | ) www.cnbc.com   time to read: +1 min
People rally in support of the Biden administration's student debt relief plan in front of the the U.S. Supreme Court on February 28, 2023 in Washington, DC. The Supreme Court began hearing arguments Tuesday morning in the first of two cases challenging the Biden administration's plan to forgive an estimated $400 billion or more in federal student loan debt for tens of millions of Americans. President Joe Biden unveiled the plan, which would wipe out up to $20,000 in loans for certain borrowers, last year. "Do you think Congress shouldn't be surprised when half a trillion dollars gets wiped off the books?" Under that doctrine, the Supreme Court has said previously said that Congress must approve a federal agency's action on an issue of major national significance.
☆ Biden administration asks Supreme Court to allow student debt forgiveness plan to continue
  + stars: | 2022-11-18 | by ( Dan Mangan Annie Nova | Dan Mangan | Annie Nova | ) www.cnbc.com   time to read: +2 min
U.S. President Joe Biden speaks about student loan debt at the White House on Aug. 24, 2022 in Washington, DC. The Biden administration on Friday asked the Supreme Court to reinstate its federal student loan program after a federal appeals court issued a nationwide injunction against the plan. The administration's request, which was previewed in another court filing Thursday, blasted the U.S. Court of Appeals for the 8th Circuit for blocking the debt relief plan. And if the Supreme Court accepts the administration's appeal, if could "set this case for expedited briefing and argument this Term," she wrote. The judge ruled that while the states raised "important and significant challenges to the debt relief plan," they ultimately lacked legal standing to pursue the case.
☆ Biden administration will ask Supreme Court to allow student loan debt relief program to resume
  + stars: | 2022-11-17 | by ( Dan Mangan Annie Nova | Dan Mangan | Annie Nova | ) www.cnbc.com   time to read: +4 min
U.S. President Joe Biden delivers remarks regarding student loan debt forgiveness in the Roosevelt Room of the White House on Wednesday August 24, 2022. The Biden administration said in a new court filing Thursday that it will ask the Supreme Court to lift an injunction and allow a major student loan debt relief program to resume. Earlier Thursday, the Biden administration revealed updated guidelines that will make it easier for those struggling with their student debt to discharge it in bankruptcy. "Amidst efforts to block our debt relief program, we are not standing down." "This belief may well stop them from making payments even if the Department is prevented from effectuating debt relief," he wrote.
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