'That will kind of crush me': Wichita resident hoping $20K in student loans will be forgiven
WICHITA, Kan. (KAKE) - President Joe Biden’s student loan forgiveness program is in limbo. More than 22 million borrowers who applied are hoping for up to $20,000 in debt relief.
The administration was going to start forgiving loans as early as this past Sunday but a Federal Appeals Court stalled it. Six Republican-led states, including Kansas, went to court claiming the program would harm their existing student loan programs.
Borrowers can still apply for forgiveness but if and when you'll see your balance go down or be forgiven, is unknown.
“I'm really upset about it, because I feel like the student loan [forgiveness] is helping people kind of eliminate their debt,” said Bria Boykins a WSU graduate who has $57,000 in student loan debt. "To block it I feels like they're blocking the progress for people to be able to do things like buy a house.”
“Before I submitted my income requirements for the income base, they were talking about $660 a month. At that time was really my whole paycheck,” said Boykins. Her monthly payments were then quickly reduced to $160 a month.
Individuals making less than $125,000 a year could get $10,000 forgiven or $20,000 if they received the Pell Grant. The income cap for couples is $250,000.
If the Biden administration loses, people like Bria Boykins will have to pay back their entire student loan.
“I really want Biden to win so the $20,000 can minimize some of that area for me, but if they don't win, that will kind of crush me because it was a relief to know that some of my student loans would be forgiven,” Boykins said.
Attorney General Derek Schmidt declined to comment on the lawsuit. His office referred us to a statement he made a month ago which states that "no statute permits president Biden to unilaterally relieve millions of individuals from their obligation to pay loans they voluntarily assumed."