4.9 • 2.1K Ratings
🗓️ 20 February 2025
⏱️ 46 minutes
🔗️ Recording | iTunes | RSS
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0:28.7 | welcome back to unbiased your favorite source of unbiased news and legal analysis |
0:35.9 | welcome back to unbiased politics today Today is Thursday, February 20th. |
0:41.4 | Let's talk about some news. Starting off with this new court ruling out of the Eighth Circuit Court of |
0:47.0 | Appeals, which upholds and actually expands in existing ban on former President Biden's |
0:53.8 | save plan. So there are actually a few things I want to |
0:57.2 | address here. I, of course, want to tell you why the court ruled the way that it did. But I also want to |
1:01.6 | talk about why we're still seeing these loan forgiveness cases in the courts because I know a lot of |
1:07.2 | people get confused at the fact that the Supreme Court already struck down one of Biden's |
1:11.8 | loan forgiveness plans in 2023, yet here we are still seeing these loan forgiveness plans being |
1:17.0 | implemented and challenged in the courts. So we'll clear that up as well. But first I want to talk |
1:22.6 | about what the save plan is. The save plan is also called, or it is called, I should say, the saving on a |
1:29.5 | valuable education plan. And it is an income-driven repayment plan that the Biden administration |
1:35.6 | introduced in an attempt to make student loan repayment more affordable. Income-driven, |
1:41.7 | meaning your monthly student loan payment is based on your income. Under-save payments |
1:47.1 | for undergraduate loans were capped at 5% of discretionary income, and this was a significant |
1:53.2 | reduction from the 10% previously required. Furthermore, and this is the part that matters most, |
2:00.2 | borrowers with smaller loan balances, |
2:03.3 | so balances $12,000 or less, were eligible to have their loans completely forgiven after |
2:09.7 | 10 years of payments. |
2:11.4 | And then for each $1,000 above that, there was an extra year added. |
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