News & Analysis as of

Loan Forgiveness Biden Administration Student Loans

Orrick, Herrington & Sutcliffe LLP

8th Circuit blocks Biden’s student loan relief plan while in effect

On July 18, the Eighth Circuit for the U.S. Court of Appeals granted the State of Missouri’s emergency motion for an administrative stay to prevent President Biden’s student loan relief plan from taking effect. The White...more

Orrick, Herrington & Sutcliffe LLP

SAVE Plan partially blocked by 2 federal judges

Recently, two district court judges partially blocked President Biden’s student debt relief program, known as the Saving on a Valuable Education (SAVE) plan. ...more

Ballard Spahr LLP

Federal Judges Block Biden Student Loan Forgiveness Plan

Ballard Spahr LLP on

Two federal judges recently said that the Education Department lacked the power to reduce or cancel federal student loans under the SAVE program; an appeals court subsequently lifted the injunction in one case....more

Orrick, Herrington & Sutcliffe LLP

Biden announces student debt cancellation for borrowers who attended “predatory” institutions

On May 1, the Biden Administration announced the approval of $6.1 billion in student debt cancellation for 317,000 borrowers who attended a system of art schools, which the Administration accused of engaging in deceptive...more

Sheppard Mullin Richter & Hampton LLP

States Sue the Biden Administration to Stop Loan Relief Plan

On April 9, 2024, seven states filed suit against the Biden administration in an attempt to block its new “SAVE” plan, an income-driven repayment plan that leads to eventual loan forgiveness. The case is pending in the U.S....more

Troutman Pepper

Department of Education Cancels $5B More in Unpaid Student Loans

Troutman Pepper on

The U.S. Department of Education (ED) recently announced the approval of an additional $4.9 billion in student loan forgiveness for 73,000 individuals. The relief was provided through several modifications to the...more

Orrick, Herrington & Sutcliffe LLP

Biden Administration, DOE withhold payments to student loan servicers

On January 5, the Biden Administration and the U.S. Department of Education (DOE) announced they are withholding payments to three student loan servicers as part of their efforts to strengthen protections for student loan...more

Spilman Thomas & Battle, PLLC

Biden's Reforms and 813,000 Student-Loan Borrowers

The White House recently announced that approximately 813,000 borrowers whose accounts were adjusted in August 2023 will receive an email from President Biden that their loans are being forgiven. This is based on the U.S....more

ArentFox Schiff

Ten Highlights from the Environmental and Energy Space in 2023

ArentFox Schiff on

Environmental and energy issues were in the headlines for much of 2023. We had several major US Supreme Court cases, Canadian wildfires that produced haze in many American cities throughout the summer, and continued attention...more

Bricker Graydon LLP

BDR Activity on the Rise Amid Unclear Rules and an Executive Effort to Delete Student Loan Debt; Who will Pay the Tab?

Bricker Graydon LLP on

Borrower Defense to Repayment (BDR) refers to the administrative process by which borrowers apply to the U.S. Department of Education (ED) to have their federal Direct Loans discharged based on allegations of school...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - October 2023 #2

Troutman Pepper on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Orrick, Herrington & Sutcliffe LLP

District Court dismisses suit challenging Biden’s student debt relief plan

On August 14, the U.S. District Court for the Eastern District of Michigan dismissed without prejudice a lawsuit filed against the federal government aimed at blocking the Biden administration’s effort to provide debt relief...more

Ballard Spahr LLP

Biden loan forgiveness alternatives face new challenge

Ballard Spahr LLP on

Less than six weeks after the U.S. Supreme Court held that President Biden lacked authority to advance his signature effort to forgive upwards of $430 billion in federal student loans, a new challenge has been filed to other...more

Patterson Belknap Webb & Tyler LLP

The State of Student Loan Debt in Bankruptcy

On June 30, the Supreme Court ruled that the Biden administration did not have authority to forgive student loans under the Higher Education Relief Opportunities for Students Act of 2003 (HEROES Act). Despite this defeat,...more

Beveridge & Diamond PC

Major Questions About the Major Questions Doctrine: The U.S. Supreme Court Employs the Major Questions Doctrine to Strike Down the...

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On June 30, 2023, the U.S. Supreme Court invoked the “major questions doctrine” for the second time, concluding that the Biden Administration’s plan to forgive $430 billion of federal student loans under the Health and...more

Dechert LLP

‘Modify’ Means Modify: Supreme Court Rejects Biden Administration’s Plan to Forgive US$430 Billion in Student Loan Debt

Dechert LLP on

The Supreme Court reaffirmed that agencies may not exercise sweeping powers that would fundamentally revise congressional policies absent clear statutory authorization. The Secretary of Education’s power to “modify” the...more

Orrick, Herrington & Sutcliffe LLP

Supreme Court blocks student debt relief program

On June 30, the U.S. Supreme Court issued a 6-3 decision in Biden v. Nebraska, striking down the Department of Education’s (DOE) student loan debt relief program (announced in August and covered by InfoBytes here) that would...more

ArentFox Schiff

SCOTUS Update: Administrative Law Takeaways from Biden v. Nebraska

ArentFox Schiff on

Last week, the US Supreme Court ruled that the Biden Administration’s efforts to cancel $430 billion in student loan balances was legally unsupportable. Forty-three million Americans will remember Biden v. Nebraska when...more

Ballard Spahr LLP

SCOTUS holds Biden lacks authority for $430 billion loan cancellation plan

Ballard Spahr LLP on

On June 30, 2023, the U.S. Supreme Court announced long-awaited opinions in two cases challenging the Biden Administration’s authority to proceed with its plan to forgive approximately $430 billion in federal student loans. ...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: The U.S. Supreme Court’s Decision Invalidating the Biden Administration’s Student Loan...

Ballard Spahr LLP on

Last Friday, the U.S. Supreme Court ruled that the Biden Administration did not have the legal authority to proceed with its plan to forgive approximately $400 billion in federal student loans. After reviewing the background...more

Akin Gump Strauss Hauer & Feld LLP

Supreme Court Rules Against Biden Administration’s Student Loan Forgiveness Plan

On June 30, in Biden v. Nebraska, the Supreme Court ruled against the Biden administration’s student loan relief plan in a 6-3 decision. The plan, which was estimated to impact more than $430 billion of student loan...more

Pillsbury Winthrop Shaw Pittman LLP

SCOTUS Strikes Down Student-Loan Forgiveness Act

On June 30, 2023, the Supreme Court held that the Secretary of Education did not have the authority to implement the Biden Administration’s student loan forgiveness plan (“Biden Plan”). The decision will cancel the...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

High Court Strikes Down President Biden’s Student Loan Relief Program

The Supreme Court of the United States, on June 30, 2023, struck down President Biden’s student loan relief program that was set to provide partial debt cancellation to approximately 40 million student loan borrowers. As a...more

Dorsey & Whitney LLP

The Supreme Court Update - June 30, 2023

Dorsey & Whitney LLP on

Today, in the last day of the 2022-2023 term, the Supreme Court of the United States issued three decisions: Department of Education v. Brown, No. 22-535; Biden v. Nebraska, No. 22-506: These cases addressed suits...more

Orrick, Herrington & Sutcliffe LLP

Republicans introduce joint resolution of disapproval to overturn DOE’s student loan debt relief program

On March 27, Republican lawmakers Representative Bob Good (R-VA) and Senator Bill Cassidy (R-LA) introduced a joint resolution of disapproval under the Congressional Review Act to overturn the Department of Education’s (DOE)...more

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