Major countries like India and America are focusing quite a lot on students’ future and related laws. Every day some laws are being planned by the major countries across the globe and are trying to implement them.
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Biden Student Loan Forgiveness Supreme Court
A similar effort was taken by President Biden for all American students. But, the result received by President Biden was not what he was expecting.
When Will Student Loan Forgiveness be Applied?
Students are eagerly waiting when will the student loan forgiveness be applied. As of now, we are quite unsure when will the student loan forgiveness be applied. It is because, last week, the Supreme Court rejected President Biden’s student loan forgiveness plan.
This plan would have provided up to $20,000 in federal student loan cancellation for close to 40 million American students.
Now it all depends on the decision of the Supreme Court. If the law is passed then it will help lots of students in the country. Recently, President Biden has referred to the Supreme Court’s conservative majority as “not normal” which followed a series of controversial decisions which were made along ideological lines.
When do Student Loans Resume?
According to some official statements from an Education Department spokesperson, the student loans will resume from September 1, 2023, and the payments will be due starting from October this year.
People who had consolidated their loans using a Federal Direct Consolidation Loan during the pandemic will have interest resume at a fixed interest rate which will be based on the average interest rates on the loans that were consolidated.
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