Meet a Republican who would have all $10,000 of his student loans canceled under Biden's plan but thinks it's an unfair policy

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Student loan borrowers and the Too Much Talent Band at a meeting outside the White House on January 13.Paul Morigi/Getty Images for We, The 45 Million
Millions of borrowers are waiting for their student loan easements to go through.
Matthew, a 28-year-old Republican, would see his loans forgiven but doesn't expect to.
He told Insider he's not surprised to see court challenges and is worried about people getting refunds.
Matthew isn't surprised his student loan has stalled.
The 28-year-old Republican is expected to cancel all credit for his master's degree - if President Joe Biden's aid program is allowed to go ahead.
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Matthew, who lives in Salt Lake City and whose last name is known to Insiders, was always skeptical that the program would go through. Since Biden announced his plan to forgive up to $20,000 in student debt for federal borrowers in late August, the plan has been beset with legal challenges. In the past two weeks, two federal courts have blocked the implementation of the loan forgiveness.
"I anticipated this, but I think unfortunately a lot of people didn't anticipate this and went ahead with the confidence that what was announced is exactly what they were going to get," said Matthew, who owes $10,000 in student debt .
The first significant legal setback for debt forgiveness came on Nov. 10, when a federal judge in Texas ruled Biden's student loan forgiveness illegal. The decision was in response to a lawsuit filed by two student loan borrowers who did not qualify for full $20,000 debt relief and argued that debt relief should be blocked as a result.
Biden's administration quickly appealed that lawsuit to the 5th Circuit, but just four days later the 8th Circuit Court of Appeals dealt another blow to debt relief when it ruled that the temporary pause it put in the plan in October , would remain in place indefinitely. This was in response to the six Republican-led states filing the lawsuit, arguing that the relief would hurt their states' tax revenues, and Biden's Justice Department took that case to the Supreme Court on Nov. 18, asking it to 8 to allow relief to resume.
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“I still believe that all politics is unfair politics. I think a lot of the court cases have tried to shed light on that," Matthew said. He previously told Insider he thinks the relief is unfair to high earners, working professionals or those who have "done their homework about what kind of majors they're studying, what kind of jobs are available and how long that would take them." to repay their debts."
"My generation, Millennials, Gen Z, is facing a significant problem with student loan debt," he said. "I feel that the government, through its strongest intent and sincerest desire, has tried to help this generation with this policy. However, I personally believe it is the wrong policy and frankly was an illegal policy.”
Borrowers may have pre-emptively “digged themselves in a hole”.
One aspect of student loan forgiveness went into effect immediately: borrowers could receive refunds for payments they made during the coronavirus pandemic, and then future relief would be applied to balances.
Some have already recovered thousands of dollars for payments made during the hiatus. However, Matthew said he was careful not to change anything after the relief was announced and expected a court challenge.
"I think a lot of people spent that money with the idea that it's already taken," he said. He's afraid for the people who got their money back and spent it or already bet on forgiveness.
Stuart, another student loan borrower who requested that his last name be withheld for privacy reasons, told Insider that when the online application became available last month, he wasn't too surprised to see a loan waiver with his wife in the amount of $10,000 relief encountered legal hurdles.
"We'd be in a much better position if we just knew that $10,000 was raised, but we never bet on it," Stuart said. "I didn't know if that was really going to happen. So let's just not change our finances - we can dream about it, but I won't believe it until it's actually on my student loan balance."
He said that while he was "optimistic" from the start, "when it came to appeal, I accepted that this was doomed."
Matthew was of the same opinion. "A lot of people with that understanding that it was pretty solidified at this point - without thinking about potential court challenges in the future - may have dug themselves into a hole that's going to be a little more difficult for them to get out of the move forward." , he said.
The fate of relief still rests with the courts
Amid these legal challenges, the Biden administration has continued to express confidence that it will ultimately succeed in court. Before the Department of Education stopped accepting new applications from borrowers in response to the 8th Federal Court ruling, 16 million borrowers had already been admitted to the facility.
On November 19, Education Minister Miguel Cardona began notifying these borrowers of their approval status, saying, "We will pay your approved debt if and when we prevail in court."
Republican lawmakers with their narrow majority in the House of Representatives could try to push legislation in the next Congress to block current or future relief.
"This administration continues to act as if its own self-appointed authority is legitimate in disbursing billions of dollars in student loans, but the rule of law says otherwise," said senior House Education Committee member Virginia Foxx. "This radical scheme needs to be gutted completely, and Republicans will continue to support legal challenges to achieve that end."
But they won't have enough votes in Congress to override Biden's veto and give the federal courts the final say.
Some Democratic lawmakers have also pushed back on the lawsuits. Massachusetts Senator Elizabeth Warren, for example, recently said the Texas judge blocking the exoneration was "playing politics rather than actually following the law." The AFL-CIO, the nation's largest union federation, said it was "extremely disappointed" by what it called "the partisan legal effort to halt the Biden administration's life-changing student loan relief" and will continue to endorse the plan itself move forward.
However, Matthew is not optimistic that the relief will prevail. He predicts the Supreme Court will overturn it.
"Many people will be very disappointed, very angry and in a worse financial position than they were before this announcement," he said.
Read the original article on Business Insider
Joe Biden
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