Petition To Block Biden's Student Loan Relief Plan 

By Vasantha

October 21, 2022

A group of Wisconsin taxpayers has moved the Supreme Court to temporarily halt Biden’s student loan forgiveness plan.

On Monday, the loan forgiveness application process became formally open.

Application Process Launched

If the court does not get involved, student loan cancellation, valued up to $20,000 per qualified borrower, could start as early as Sunday, October 23

Plan Starting Date

The program is currently the subject of multiple legal challenges, but this is the first to make it all the way to the Supreme Court.

Legal Challenge

Justice Amy Coney Barrett, who has jurisdiction out over the lower court that made the decision in the case, received the request.

The cost of Biden's student loan forgiveness program has been estimated by the nonpartisan Congressional Budget Office to be $400 billion.

How Much It Costs?

Individual borrowers who made less than $125,000 and households who made less than $250,000 will have up to $10,000 of their student loan debt canceled.

Details & Eligibility

The maximum amount of debt forgiveness is $20,000 for borrowers who met the requirements and obtained a federal Pell grant.

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