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...
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 […]
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 latest round of forgiveness brings the total amount of relief given to student loan borrowers under the Biden administration to $160 billion for 4.6 million individuals.
(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,"...
President Joe Biden on Wednesday announced the approval of more than $6.1 billion in student loan debt relief for nearly 317,000 borrowers who were enrolled at any Art Institute campus from January 2004 until October 2017.
The Education Department said Wednesday it'll automatically erase loans for 317,000 people who attended any Art Institute campus between Jan. 1, 2004, and Oct. 16, 2017.
A key deadline is approaching fast for a student loan cancellation opportunity.
(The Center Square) - Iowa State Treasurer Roby Smith said Monday Iowa's debt obligations rose 3.9.% from fiscal year 2022 to fiscal year 2023, the lowest increase in five years. Iowa's debt obligations are at $20.9 billion, with cities issuing the most debt at $7.8 billion, a 4.1% increase over the last fiscal year, according to a report. Debt obligations are "bonds, notes, capital leases, anticipatory warrants and loans," according to Smith. Five cities make up...
Graduates paying back their university debt should be given guarantees their loans will not rise above a certain level, higher education experts say, after another spike in indexation. Debt levels for HECS will increase by 4.7 per cent from June 1, following the release of official inflation figures that highlighted how stubborn prices pressures are. […]
New Title IX rules from the Biden administration protect LGBTQ students from discrimination, but sidestep transgender athlete eligibility.
Texas Attorney General Ken Paxton (R) announced that he has sued the U.S. Department of Education (DOE) over new Title IX guidelines that make discrimination against LGBTQ+ students in education […]