On Friday, the Biden Administration announced that it plans to automatically forgive $39 billion in student debt for 804,000 borrowers.Â
In the wake of legal challenges to the plan for student loan debt forgiveness, the pandemic-era pause on payments is extended until June 30, 2023.Â
In a conservative victory, a Trump-appointed federal judge in Texas struck down Biden's $400 billion plan to relieve student loan debt.
The potential announcement by the Biden administration to forgive $10,000 worth of student loan debt for those making under a certain amount has been met with displeasure by the NAACP, who feels it's not enough to help Black borrowers who are most impacted by student loan debt.
