Michigan District Judge Thomas Ludington declared Monday that aagainst the Department of Education lacks standing, throwing the case out.
“On Day One of my Administration, I promised to fight for hardworking families and to fix problems in the student loan system that have been failing borrowers for too long,” Biden, 80, said in a“I’m proud that my Administration is delivering on that promise and has already approved over $116 billion in debt cancellation for 3.4 million Americans – no matter how many lawsuits, challenges, or roadblocks Republican elected officials or special interests put in our way,” he added.
“When I came into office, hundreds of thousands of borrowers weren’t accurately getting credit for student loan payments that should have delivered them forgiveness under Income-Driven Repayment plans or were placed into forbearance by loan servicers in violation of Department of Education rules,” Biden claims.
Qualified borrowers will be notified by their debt servicers that their debt has been canceled in the coming weeks.About 614,000 borrowers are expected to have their entire student loan debt wiped up under the plan. Biden’s attempt to write off hundreds of billions of dollars in federally held student loan debt, ruling that the commander-in-chief had overstepped his executive authority.
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