Under the new plan, borrowers who earn less than roughly $30,600 a year would owe $0 a month on their federal student loans, effectively pausing them. A borrower who’s in a family of four and makes less than roughly $62,400 would also see their payments paused.
In the past week, two separate courts controlled by conservative judges have ruled against the Biden administration’s plan to cancel tens of thousands of dollars in federal student loan debt for millions of borrowers, putting that relief in jeopardy.
Did you know that if a person was previously married to a domestic abuser, they could still be legally responsible to pay for that person’s student loan debt — even after getting a divorce? With the recent Senate passage of the Joint Consolidation Loan Separation Act, victims are one step closer to financial freedom.