Student loan forgiveness up in the air for millions of borrowers

Published: Nov. 11, 2022 at 10:16 PM CST
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MANKATO, Minn. (KEYC) -The back and forth continues for student loan forgiveness. In August, President Biden announced his plan for student loan relief for borrowers.

“I was pretty excited you know, got to relieve some of the pressure of paying off all the loans,” MSU junior Tyler Studer said.

The plan faced backlash from Republicans and on Thursday a Trump-appointed judge in Texas called Biden’s plan, “unlawful.”

“It is not cool,” MSU freshmen Hunter Mischke said. “I don’t know why they would do that. I think it is kind of selfish that they would do that. Student loans are the reason a lot of kids are able to go to college.”

The White House says that more than half of the 26 million applicants for student loan forgiveness have already been approved. The Department of Justice will appeal the decision. For now, students are on their own when handling their finances.

“I am trying to graduate college with no debt,” MSU freshmen Brandon Fite said. “I am trying to work that off so hopefully that will be good.”

Student loan forgiveness was already put on hold last month after the 8th US Circuit Court of Appeals. The plan lies in limbo and will likely end up in the Supreme Court.

“I want my loans forgiven,” MSU student Sadie Schermerhorn said. “It is going to affect me for the rest of my life.”