WASHINGTON, D.C. (Newsource) — If you have federal student loans, you won’t have to resume payments January 1. President Joe Biden is extending a moratorium, while challenges to his broader relief plan move through the courts.
The U.S. Supreme Court says it wants to hear from the plaintiffs by Wednesday.
The Justice Department is asking the high court to allow President Joe Biden’s student loan relief plan to take effect amid legal challenges. The panel has given plaintiffs until noon to respond.
At issue is Biden’s plan to forgive up to $20,000 dollars for federal borrowers under an income cap.
A federal judge struck it down and an appeals court is blocking it while a separate case plays out.
Meanwhile, the Biden Administration is extending the pause on federal student loan payments.
It’ll last until the supreme court decides the case or until June 13, whichever comes first. Payments are set to resume 60 days later