Is Biden S Student Loan Forgiveness Plan Canceled Here S What We Know.

The ruling Thursday by U.S. District Judge Mark T. Pittman of the Northern District of Texas handed a legal victory to the Job Creators Network Foundation, a conservative group that filed a lawsuit in October on behalf of two student loan borrowers. The amnesty plan was already on hold after an appeals court issued a stay on another lawsuit against the program. But Thursday’s decision puts Biden’s debt relief plan in further limbo, as more than half of the 40 million eligible borrowers have already signed up. The Biden administration’s plan would cancel up to $10,000 in federal student loans for people earning less than $125,000 a year or less than $250,000 for married couples. Those who received Pell Grants, federal aid for lower-income students, could have up to $20,000 forgiven. The court ruling and other legal challenges to Biden’s plan have sown uncertainty among borrowers. Here’s what we know.