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.
The Department of Education just shared the first draft of the proposal’s rules, and there’s a lot to break down.
Michael RaineyApril 16, 2024The Department of Education on Tuesday released a first set of draft rules for President Joe Biden’s proposed plan
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...
The Biden administration released the draft text of its revised student loan forgiveness plan. Here's what to know.
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.
Education Department unveils new rules focused on canceling loan interest. Unveiled rules are part of the larger Biden effort to cancel student loan debt. Efforts could impact 30 million borrowers when combined with other steps
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.
Certain federal loan holders must consolidate by April 30 to qualify through Income-Driven Repayment and Public Service Loan Forgiveness.
Californians who obtained federally backed student loans from private banks can have some or all of their remaining debt forgiven by the Biden administration, but they need to act fast: The deadline for qualifying is Tuesday. The relief is available for students enrolled in income-driven repayment plans or the Public Service Loan Forgiveness program. It's also available for some parents who borrowed through the Federal Family Education Loan program. This is not a new initiative, however —...
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 […]