Should I Cancel My Student Loan Refund Now That Biden’s Forgiveness Plan Is on Hold?

Doug Mills / AP

The Biden administration’s one-time student loan forgiveness plan has been blocked by courts, leaving many borrowers to wonder what they should do with their student loan refund.

Explore: 4 Government Agencies That Help You Pay Off Your Student Loan
Learn More: Biden Administration Calls on Supreme Court to Reverse Injunction

A COVID-19 relief bill made it possible for borrowers who made payments on their federal student loans to request a refund. After Biden announced his plan to forgive up to $10,000 to $20,000 per borrower, those who paid down their balance below that limit during the

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Biden Doesn’t Have Legal Authority To Cancel Student Loans, But Is Nancy Pelosi Wrong?

Speaker of the House Nancy Pelosi said that President Joe Biden does not have the legal authority to enact wide-scale student loan forgiveness. These 80 advocacy organizations disagree.

Here’s what you need to know.

Student Loans

Last month, Pelosi (D-CA) surprised Washington when she said the president cannot cancel student loans unilaterally without an Act of Congress. Pelosi said that Biden has the power to “delay” or “postpone” student loan payments, but he doesn’t

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