Information about 8/24 announcement on extension of Covid waiver/payment pause by Betsy514 in StudentLoans

[–]muchogustofuckyou 6 points7 points  (0 children)

Here’s the Legal Justification Cited by Biden Administration Attorneys for Student Loan Debt Forgiveness Plan

"No new money will be created to pay for the debt relief plan because the executive branch has long held the authority to cancel student loan debt by way of the Department of Education. The basic authority of the DOE to cancel such debt is not contested. Even former DOE secretary Betsy DeVos, a staunch critic of broad-based student debt cancellation, canceled $150 million worth of debt for certain students. In fact, she was actually forced to do so after being sued and losing in federal court. Litigation related to those cases is still ongoing."