Business

Federal Court Halts Biden’s Student Loan Debt Forgiveness for Now

Conservatives have attacked the debt forgiveness plan as expensive overreach of executive authority since the plan was announced. In this case, the six states argued that the debt forgiveness plan could incentivize student loan borrowers with loans serviced by the states, which aren’t eligible for debt forgiveness, to swap those loans for federal loans that are eligible, costing the states money, according to USA Today.

Published

3 years ago

October 29, 2022

Oakland Post

The plan, announced in August, would cancel $10,000 in debt for eligible applicants and $20,000 for Pell Grant recipients. (Photo: iStockphoto)

By Brandon Patterson

A federal appellate judge on October 21 temporarily blocked the Biden Administration from cancelling student debt in response to a lawsuit filed by six conservative states alleging they could be hurt financially by the plan.

The court blocked the plan after the states appealed a lower court’s decision to throw out their suit due to failure to show they would be hurt by it. The court ruling does not prevent the administration from operating the debt forgiveness application or prevent people from applying, the White House said. But no debt can be waived until the court issues a final decision. It is not clear how long the temporary decision will last.

The administration had intended to start cancelling loans as soon as October 23, court records show, according to USA Today. The plan, announced in August, would cancel $10,000 in debt for eligible applicants and $20,000 for Pell Grant recipients.

“Plaintiffs will suffer no irreparable injury from the provision of much-needed relief to millions of Americans, but the public interest would be greatly harmed by its denial,” the Biden Administration said in legal filings, adding that, if the court disagrees, any injunction should only apply to the states that filed the lawsuit, where about 2.8 million people are eligible for forgiveness, according to USA Today. Those states include Arkansas, Iowa, Kansas, Missouri, Nebraska, and South Carolina.

The administration, however, says the Department of Education already changed its loan regulations to disallow the swaps, according to USA Today, rendering the issue moot. The states also argue, however, that the administration has no authority to cancel the debt at all. The administration has held that a 2003 law allows the executive branch to reduce or erase student loan debt.

The case is just one of many lawsuits over Biden’s debt cancellation plan. At least six different parties have challenged the plan in court. In most cases, however, the lawsuits have been quickly dismissed, according to USA Today.

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Oakland Post: Week of February 25 – March 3, 2026

The printed Weekly Edition of the Oakland Post: Week of – February 25 – March 3, 2026

Published

3 days ago

March 1, 2026

Oakland Post

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Chase Oakland Community Center Hosts Alley-Oop Accelerator Building Community and Opportunity for Bay Area Entrepreneurs

Over the past three years, the Alley-Oop Accelerator has helped more than 20 Bay Area businesses grow, connect, and gain meaningful exposure. The program combines hands-on training, mentorship, and community-building to help participants navigate the legal, financial, and marketing challenges of small business ownership.

Published

2 weeks ago

February 21, 2026

Oakland Post

Bay Area entrepreneurs attend the Alley-Oop Accelerator, a small business incubation program at Chase Oakland Community Center. Photo by Carla Thomas.

By Carla Thomas

The Golden State Warriors and Chase bank hosted the third annual Alley-Oop Accelerator this month, an empowering eight-week program designed to help Bay Area entrepreneurs bring their visions for business to life.

The initiative kicked off on Feb. 12 at Chase’s Oakland Community Center on Broadway Street, welcoming 15 small business owners who joined a growing network of local innovators working to strengthen the region’s entrepreneurial ecosystem.

At its core, the accelerator is designed to create an ecosystem of collaboration, where local entrepreneurs can learn from one another while accessing the resources of a global financial institution.

“This is our third year in a row working with the Golden State Warriors on the Alley-Oop Accelerator,” said Jaime Garcia, executive director of Chase’s Coaching for Impact team for the West Division. “We’ve already had 20-plus businesses graduate from the program, and we have 15 enrolled this year. The biggest thing about the program is really the community that’s built amongst the business owners — plus the exposure they’re able to get through Chase and the Golden State Warriors.”

According to Garcia, several graduates have gone on to receive vendor contracts with the Warriors and have gained broader recognition through collaborations with JPMorgan Chase.

“A lot of what Chase is trying to do,” Garcia added, “is bring businesses together because what they’ve asked for is an ecosystem, a network where they can connect, grow, and thrive organically.”

This year’s Alley-Oop Accelerator reflects that vision through its comprehensive curriculum and emphasis on practical learning. Participants explore the full spectrum of business essentials including financial management, marketing strategy, and legal compliance, while also preparing for real-world experiences such as pop-up market events.

Each entrepreneur benefits from one-on-one mentoring sessions through Chase’s Coaching for Impact program, which provides complimentary, personalized business consulting.

Garcia described the impact this hands-on approach has had on local small business owners. He recalled one candlemaker, who, after participating in the program, was invited to provide candles as gifts at Chase events.

“We were able to help give that business exposure,” he explained. “But then our team also worked with them on how to access capital to buy inventory and manage operations once those orders started coming in. It’s about preparation. When a hiccup happens, are you ready to handle it?”

The Coaching for Impact initiative, which launched in 2020 in just four cities, has since expanded to 46 nationwide.

“Every business is different,” Garcia said. “That’s why personal coaching matters so much. It’s life-changing.”

Participants in the 2026 program will each receive a $2,500 stipend, funding that Garcia said can make an outsized difference. “It’s amazing what some people can do with just $2,500,” he noted. “It sounds small, but it goes a long way when you have a plan for how to use it.”

For Chase and the Warriors, the Alley-Oop Accelerator represents more than an educational initiative, it’s a pathway to empowerment and economic inclusion. The program continues to foster lasting relationships among the entrepreneurs who, as Garcia put it, “build each other up” through shared growth and opportunity.

“Starting a business is never easy, but with the right support, it becomes possible, and even exhilarating,” said Oscar Lopez, the senior business consultant for Chase in Oakland.