The Biden administration's latest plan to wipe out federal student loan debt for millions of borrowers could add up to $750 billion to the national deficit, according to a Tuesday report from the Committee for a Responsible Federal Budget.So far, the White House has announced $150 billion in so-called student loan "forgiveness" programs over the last year following the Supreme Court's June decision to reject unilateral loan cancellations. The previously rejected program would have wiped out $430...
Most families take out student loans to cover the rising cost of college. A new report found that incoming freshmen may have $37,000 in debt by graduation.
You can consolidate your loans online in a half hour to potentially
Few issues have vexed the Biden administration like student loan forgiveness. Given that more than 40 million Americans owe money on their student loans, for a total of $1.6 trillion, few issues have such a large impact on so many. Democrats and progressives have long prioritized this matter, and President Joe Biden promised to fight for significant debt relief before taking office. Even though his ambitious proposal to use his executive authority to forgive $400 billion in student loan debt...
The Federal Trade Commission is warning about scammers targeting people with promises to cancel their student loans, and critics say President Joe Biden fueled the fire himself. Biden has been pledging to cancel student loans since the 2020 presidential campaign and has rolled out a wide range of programs and proposals toward that end. While his […]
To be eligible, borrowers with any of four types of federally managed loans must consolidate them by April 30.
(The Center Square) – President Joe Biden's plans to cancel student debt for some borrowers could cost taxpayers up to $1.4 trillion, depending on how the plans are implemented, a new report estimates. The nonpartisan Committee for a Responsible Federal Budget estimated all Biden's recent debt cancellation efforts would cost a combined $870 billion to $1.4 trillion. "That’s more than all federal spending on higher education over the nation’s entire history,"...
The Biden administration released its new proposal to forgive student debt for millions of Americans. It hopes this plan will survive legal challenges.
After the Supreme Court blocked President Joe Biden's first plan to forgive student debt, his administration set out to create a more viable relief package.
Survey respondents were most likely to list buying a home, buying a car and moving out of their parents’ home as life events that were placed on hold.
Student debt, a new Gallup report shows, is making it harder for young people to reach key life milestones. According to a Gallup survey of over 14,000 adults, over 70% of people say student debt has “delayed major life events” including moving out of their parents’ home, getting married, and having a child. Strikingly, there […]
People with certain federal student loans have until Tuesday to consolidate them and qualify for debt cancellation. The Department of Education is reviewing over 40 million loan accounts and issuing credit for past payments that previously didn’t count toward forgiveness. Also in this episode: a look at the latest inflation reading, Americans’ savings habits and pop-up coworking spaces.