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President Biden Will Speak On Major Oil Companies Reporting Record Profits

Source: Drew Angerer / Getty

President Joe Biden sounds confident that borrowers who meet the requirements for relief will have their debt forgiven within the next few weeks despite several legal challenges, including a federal appellate court decision to delay the plan.

“We’re going to win that case,” Biden said in an Oct. 27 interview with NewsNation. “I think in the next two weeks, you’re going to see those checks going out.”

He was alluding to a ruling made on October 21 by the U.S. Court of Appeals for the 8th Circuit, which put a hold on debt relief while the court considered a complaint brought by six Republican-leaning states. The length of that process is unknown.

Although Biden referenced “checks going out,” most of the relief will involve loan servicers canceling debt, not actual checks. However, according to the Federal Student Aid website, qualifying borrowers who made voluntary payments during the federal student loan suspension from March 13, 2020, through December 31, 2022, may be eligible for return payments.

Read the full story here.