Student loans

Biden’s student loan plan has debt cancellation in the pipeline for most borrowers and is already delivering targeted debt relief. More than 20 million borrowers applied for $10,000-$20,000 of federal student debt cancellation less than a week after the Department of Education released the application in October — roughly half of those eligible for the relief. There is a court challenge to this executive order but it is weak. When it comes to court challenges there is something called standing. The person suing must prove they have been harmed. '” Standing limits participation in lawsuits and asks whether the person(s) bringing a lawsuit, or defending one, has enough cause to “stand” before the court and advocate, since not anyone can go to court for any reason. To have standing, a party must show an “injury in fact” to their own legal interests. The lawsuit’s plaintiff is Frank Garrison, a Pacific Legal Foundation attorney in Indiana who received a Pell Grant to attend college and qualifies for $20,000 in debt forgiveness under Biden’s plan because he makes less than $125,000 per year, according to the complaint. He says he is being harmed because he must pay state income tax on the forgiven debt. Experts say this will be thrown out because he does not have to accept the debt repayment plan. Others say that if for some reason or another any student who has received debt repayment money will not be required to give it back so all eligible students are encouraged to sign up immediately.