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What will be the status of the Public Service Loan Forgiveness (PSLF) Program under the Biden Administration by the end of 2024?
3
Resolution / Starting Odds
Increased Forgiveness • 25%
No Change • 25%
Decreased Forgiveness • 25%
Program Terminated • 25%
Official announcements from the Biden administration or relevant federal agencies
Story
Eighth Circuit Blocks Biden's $150 Billion Student Loan Forgiveness Plan
Aug 9, 2024, 08:48 PM
The Biden administration's student loan forgiveness plan, which aimed to cancel over $150 billion in student debt for nearly 5 million Americans, faces significant legal challenges. A federal appeals court, specifically the Eighth Circuit, has extended an order blocking the implementation of the plan, which was designed to lower monthly payments and accelerate loan forgiveness for millions of borrowers. The court's decision represents a major setback for the administration's efforts to provide relief to borrowers, including public servants such as teachers. Despite the administration's announcement of $1.2 billion in forgiveness for public service workers, the broader debt cancellation plan, described as a half-a-TRILLION dollar initiative, remains in limbo.
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Yes • 50%
No • 50%
Fully implemented • 33%
Partially implemented • 34%
Not implemented • 33%
1.1 million • 25%
1.2 million • 25%
1.3 million • 25%
More than 1.3 million • 25%
Fully Implemented • 25%
Partially Implemented • 25%
Blocked by Courts • 25%
Withdrawn by Administration • 25%
Expansion of forgiveness • 33%
Reduction of forgiveness • 33%
No change • 33%
Plan Fully Implemented • 25%
Plan Partially Implemented • 25%
Plan Blocked • 25%
Plan Modified • 25%
Increase in forgiveness amount • 25%
Expansion to include more professions • 25%
Reduction in eligibility criteria • 25%
No major changes • 25%
