Student Loan Relief Plan Rejected
Sad news for students who were hoping to have their student loans forgiven. The Supreme Court rejected Biden’s loan debt relief plan (called the HEROES Act) based on reasons that relief can be made available when there is a national emergency. However, the HEROES Act was not clear or specific enough. The plan was originally set out to allow eligible borrowers to cancel up to $20K of student debt, which would cost the country $400 billion financially. Approximately 43 million Americans may have been eligible for the forgiveness. To read further, check out source of this article: https://www.nbcnews.com/politics/supreme-court/supreme-court-rule-bidens-student-loan-forgiveness-plan-friday-rcna76874. Do you think such relief would benefit the US? If you would like to share your opinion with us, comment below. Have tax or accounting questions unanswered? Contact us at 832-295-3353. We would love to help you.