Is Biden’s Student Debt Forgiveness Plan Just A Trick?

Gage Skidmore from Surprise, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons

( – The latest student loan forgiveness program by President Biden closely resembles his 2022 plan which had been struck down by the Supreme Court. Many experts have questioned whether this latest program would be meeting the same fate as his previous ones. 

The Biden administration will need to learn how to face litigation and beat legal challenges if they want to avoid having a repeat of their student loan forgiveness program being struck down. This could be particularly dangerous for the Biden campaign ahead of election day as he could be dangling student loan relief in front of prospective voters only to have it be taken away ahead of the November election. 

Brown Center on Education Policy at the Brookings Institute fellow Katharine Meyer has argued that the main difference between the two programs is that these more targeted programs could lead to some people having their student loans completely wiped out. As she argued this is not something that would occur with the widespread forgiveness program. 

Last Monday Biden proposed a new program that would provide relief to those student loan borrowers who have been making payments for over two decades, are on income-driven repayment (IDR) plans, and have gone to low-financial-value institutions. It would also target those experiencing financial hardship or unpaid interest growth. Under the new plan, around 25 million Americans could potentially qualify for partial or even full forgiveness on the unpaid interest portions of their loans. Only those on IDR plans could potentially qualify for full forgiveness. 

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