A U.S. District Court in Texas ruled on Nov. 10 that President Biden’s student loan debt relief plan is unlawful. On Aug. 24, 2022, Biden announced a student loan forgiveness plan that further extends the suspension of collection actions and wage garnishment. It also allows for a certain amount of debt forgiveness for eligible individuals and extends a pause on student loan debt repayments until Dec. 31, 2022. The court stated that the forgiveness program is an unconstitutional exercise of Congress’s legislative power and must be vacated. The government filed an appeal on Nov. 11 but due to the court’s decision, student loan forgiveness applications are no longer being accepted. Stay tuned. Call or visit our website for more information! www.mjscpa.com/
