The Biden administration released detailed data showing how many people have qualified for student loan forgiveness in each state. Across the country, over 26 million people qualify and 642,000 borrowers in Georgia have been approved.
However, the debt relief plan is tied up in the Supreme Court after facing several lawsuits. The plan, announced in August 2022, includes up to $20,000 in debt relief for individuals making less than $125,000 a year.
Jordan Matsudaira, chief economist at the U.S. Department of Education, said some individuals are approved automatically.
“So in cases where we know their income for the relevant years already, and we know that they income-qualify for the plan, we’re able to automatically discharge their loans,” he said.
Before the plan can go into action, the Biden administration must win the Supreme Court case. Arguments are scheduled for a hearing in June. Bharat Ramamurti, deputy director of the National Economic Council, said the White House is not considering other legal options in the event the court rules against the program.
“This administration is fully confident that this program is legal,” he said. “It is necessary to help borrowers most at risk of financial uncertainty as they prepare to resume loan payments.”
Payments on existing loans are paused until then and then borrowers will have until the end of August to resume payments.
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This article appears on Now Habersham through a news partnership with GPB News
