The Biden administration released its new proposal to forgive student debt for millions of Americans. It hopes this plan will survive legal challenges.
Student loan forgiveness for public-sector workers like teachers and nurses will be temporarily paused beginning May 1 as the Department of Education moves management of the program in-house.
Last week, President Biden visited Madison, Wisconsin where he announced new details for his student debt cancellation plan. While this initiative promises immediate short-term financial relief, it avoids addressing the deeper systemic issues plaguing American higher education. “Starting this fall we plan to deliver up to $20,000 in interest relief to over 20 million borrowers […]
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 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...
President Joe Biden has worked to woo young voters with his student loan forgiveness plan, but he is still lagging with the demographic in polls against former President Donald Trump. In two polls released on Thursday, Biden has smaller leads over Trump with young voters than four years ago — in a group he needs […]
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Borrowers with some types of federal student loans have until today to consolidate their loans to qualify for full student loan cancellation or credit toward cancellation. The Education Department is expected to conduct a one-time adjustment in the summer but borrowers who want to be considered for the adjustment have to submit a request to consolidate their loans by Tuesday. This one-time adjustment is meant to show a more accurate payment count for student loan borrowers.
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 […]
On Friday, The Biden Administration announced it will use existing student loan forgiveness programs to cancel another round of student debt, and if you're hearing a lot about federal student loan forgiveness in the news, you're not alone because schemers are too.
Eligible borrowers who consolidate their student loans could qualify for some debt forgiveness, or receive credit for loan forgiveness, as part of a one-time adjustment this summer from the U.S. Department of Education.More than 3.6 million borrowers with Direct Loans will receive at least three years of credit toward loan forgiveness, and many will see their loans forgiven automatically.The move is part of the Biden administration's push to provide student debt relief after his one-time student...
Borrowers hoping for student loan forgiveness have just a few more days to act before an April 30 deadline.