Eligible borrowers owe more than $1.7 trillion total, a number far greater than auto and credit card debt.
Some Republicans questioned the legality of the executive order, but court cases challenging the order were dismissed Thursday on both the state and federal level, allowing forgiveness to move forward. Borrowers who submitted applications could be granted forgiveness as soon as Sunday.
“They’ve been fighting us in the courts,” Biden said. “But just yesterday the state court and the Supreme Court said no, we’re on Biden’s side.”
“I don’t want to hear it from MAGA Republicans, officials who had hundreds of thousands of dollars of debt, even millions of dollars in pandemic relief loans, forgiven, who now are attacking me for helping middle-class Americans,” Biden said.
He specifically called out Rep. Marjorie Taylor Greene, R-Ga. She and her husband received $180,000 worth of Paycheck Protection Program loans, and the congresswoman criticized the student loan plan.
