Loading ...Student Loan Borrowers Crushed By Appeals Court Ruling, Credit Scores Plunge — The courts are busy. This one goes against Biden. Economic repercussions are significant…
The New York Post reports Biden’s $475B student debt cancellation plan blocked as federal appeals court issues final decision
A federal appeals court delivered a crushing blow Tuesday to a more than $475 billion student debt cancellation program begun by former President Joe Biden, ordering the underlying regulation be blocked in its entirety.
For thousands of federal student loan borrowers, the past few weeks have been a wake-up call. As credit monitoring services send out alerts, many are realizing that their credit scores have dropped by over 100 points—some by as much as 200—due to missed student loan payments. The issue stems from student loan servicers now reporting 90-day delinquencies to credit bureaus after the federal repayment “on-ramp” period ended.
