The relief policy, which suspended all federal student loan payments, has been extended eight times in nearly three years. This began with the outbreak of the COVID-19 pandemic in March 2020. Several experts believe a possible timeline for the payments will be revealed at the February 28 Supreme Court hearing. However, there is currently no specific date when these loan payments will resume.
We will then have to wait for the decision on President Joe Biden’s plan to forgive student loan debt.
The experts gave their predictions if the Supreme Court does not approve the debt relief plan.
These are essentially aimed at allowing the US Department of Education to resume loan payments in August. But there could also be a new expansion on the way.
Once they receive approval to recover them, loan officers determine when a payment is due.
What could the Supreme Court decide?
With this in mind, the Supreme Court will hear the oral arguments of persons involved in two of the trials that have arisen in the following context.
Just as US President Joe Biden announced his plan to forgive up to $20,000.00 in student debt for millions of Americans.
In turn, both of these lawsuits successfully obtained a temporary stay of student debt relief.
Therefore, it is up to the Supreme Court Justices to decide how to resolve this matter, which affects a large segment of the North American population.
In the meantime, we must wait for this court to resolve the doubts raised by the cancellation of the student loan.
