Experts divided on Biden’s new student loan forgiveness plan

President Joe Biden’s new student loan forgiveness plan has legal experts divided, with some citing similar problems to his previous plan struck down by the U.S. Supreme Court.

The Biden administration’s Saving on a Valuable Education Plan is an income-based student loan repayment plan that provides full loan forgiveness in certain cases.

For example, the plan gives “borrowers who originally borrowed $12,000 or less forgiveness after as few as 10 years,” according to the Federal Student Aid website.

However, Kansas and 10 other states recently filed a lawsuit challenging SAVE, saying the Department of Education does not have the authority to alter or cancel student loan repayment plans. A group of state attorneys general also filed a second lawsuit.
Joe Biden by Gage Skidmore is licensed under Flickr Flickr