Context: Biden is canceling $7.4 billion in student debt for 277,000 borrowers. Here's who is eligible.
There are three distinct pieces that have to come to fruition for this to Resolve YES:
$3.6 billion for 206,800 borrowers enrolled in the SAVE plan
$3.5 billion for 65,700 borrowers in income-repayment plans
$300 million for 4,600 borrowers through Public Service Loan Forgiveness (PSLF)
If Republicans/ courts successfully nullify 1-2 of these three plans, this will Resolve to a percent, likely by dollars forgiven.
Relevant, from the article:
In two separate lawsuits, Republican attorneys general in 18 states are pushing to have the SAVE plan tossed and to halt any further student debt cancellation. They say the SAVE plan oversteps Biden's authority and makes it harder for states to recruit employees. They also contend the plan undermines a separate cancellation program that encourages careers in public service.
1,000
3.00@10thOfficial Are you sure? Can you provide the evidence that these three specific groups of loan forgiveness were not enacted?
@Eliza It looks like overall, Biden passed nearly $200 billion of student loan forgiveness. From what I can find out, at least some of the ones pertaining to this market were simply 'done' as soon as it was announced.
It looks like FUTURE forgiveness under the SAVE plan was eventually blocked, but some portion of the $3.6 billion for SAVE was probably already done before that happened.
Can't find any more updates about the 65,700 on the income repayment plan, but it looks like it probably went through
Same for the PSLF
My understanding is Mr. Trump is probably trying to disallow future use of these plans where possible, but the things already forgiven in 2024 are very unlikely to be clawed back after borrowers were told they had been forgiven. Can anyone clarify whether those SAVE forgiveness deals listed here were partially implemented or not before the SAVE plan was put into legal limbo?
This market looks likely to resolve to a percentage, not to No, as indicated by the description.