A federal appeals court upholds a judge’s order vacating President Biden’s student loan forgiveness program. Payments will resume 60 days after the Education Department is allowed to implement the program or litigation is resolved. The administration wants to lower borrowers’ balances, or wipe out their debt altogether. The plan would cancel up to $10,000 in federal student debt for borrowers who earn $125,000 annually. Borrowers could consolidate their loans into Direct Loans to become eligible for Biden’s plan.
