The Department of Education just shared the first draft of the proposal’s rules, and there’s a lot to break down.
A total of 18 states are now suing the Biden administration over its new student debt forgiveness program, hoping to halt $1.2 billion in loan relief for more than 150,000 borrowers. The SAVE Repayment Plan, which was announced in February, allows borrowers to have their federal student debt forgiven if they took out $12,000 or less and have made payments for at least 10 years. A federal lawsuit filed Tuesday — led by Missouri and joined by Arkansas, Florida, Georgia, North Dakota, Ohio and...
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...
If you’re confused about President Joe Biden’s various student loan debt-cancellation schemes, who can blame you? And on Tuesday, the Biden administration unveiled its third Read More
Biden has now dished out $153 billion in student debt relief trying to fix the broken loan system.
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
Milei is slashing spending across the country in his drive to reach zero deficit, leaving even elite universities struggling to keep lights on
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 […]
Michael RaineyApril 16, 2024The Department of Education on Tuesday released a first set of draft rules for President Joe Biden’s proposed plan
President Joe Biden's new student loan forgiveness plan is narrower than his first effort. For critics of debt relief, that might not make a difference.
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Billionaire Mark Cuban confronted fellow billionaire Bill Ackman online on Saturday after he criticized President Joe Biden's forgiveness plan for student loan debt.Biden recently canceled student loan debt for a further 277,000 people, bringing the total number of Americans approved for debt relief during his administration to 4.3 million. The latest debt relief applies to people enrolled in the federal Saving on a Valuable Education Plan (SAVE), or people who were approved for relief because...