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Supreme Court Strikes Down Student Loan Forgiveness

Presented by Weller Group

For nearly a year, many with federal student loans have been waiting to find out whether President Biden’s loan forgiveness plan would be enforced by the courts. On June 30, the Supreme Court issued its ruling, sealing the program’s fate.

After reviewing the arguments of Biden v. Nebraska, the Supreme Court decided to block the debt relief plan.

As a result, if you have applied for debt relief under this program from the Department of Education’s website, there is no longer an expectation to have up to $20,000 of your balance canceled. 

In addition, you should be aware that interest accrual for federal loans is set to commence on September 1, 2023, and that you may need to resume making payments in October.

If you have any questions, please call our office at 315-524-8000.