loan forgiveness

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Judges in 2 States Halt Chunk of Biden Loan Forgiveness Plan

Kansas, Missouri earn temporary victory that puts the kibosh on key parts of student loan program

(Newser) - Federal judges in Kansas and Missouri on Monday together blocked much of a Biden administration student loan repayment plan that provides a faster path to cancellation and lower monthly payments for millions of borrowers. The judges' rulings prevent the US Department of Education from helping many of the intended borrowers...

160K Student Borrowers Just Got Good News

Biden administration is moving to cancel a new round of student debt

(Newser) - The Biden administration is canceling student loans for another 160,000 borrowers through a combination of existing programs. The Education Department announced the latest round of cancellation on Wednesday, reports the AP , saying it will erase $7.7 billion in federal student loans. With the latest action, the administration said...

317K People See Their Student Loans Erased

Former students of the for-profit Art Institutes see loans canceled, payments refunded

(Newser) - The Biden administration on Wednesday said it will cancel $6 billion in student loans for people who attended the Art Institutes, a system of for-profit colleges that closed the last of its campuses in 2023 amid accusations of fraud. Saying the chain lured students with "pervasive" lies, the Education...

153K People Got a Welcome Email From Biden Today
153K People Got
a Pleasant Email
From Biden Today
the rundown
Feb 21, 2024 9:50 AM CST

153K People Got a Pleasant Email From Biden Today

The recipients will see their $1.2B in student debt forgiven

(Newser) - Some 153,000 people got an email from President Biden on Wednesday, and regardless of their politics, it's likely one they were thrilled to get. The Department of Education says the email informs those borrowers that their student loan debt will be forgiven—some $1.2 billion in total....

Biden Speeds Up Plan for Student Loan Forgiveness

Some borrowers could receive relief starting in February

(Newser) - The Biden administration will start canceling student loans for some borrowers in February as part of a new repayment plan that's taking effect nearly six months ahead of schedule. Loan forgiveness was originally to begin in July under the new SAVE repayment plan, the AP reports, but it's...

Biden Is Extending Student Loan Pause

Pause on repayments will continue while debt cancellation plan faces legal challenges

(Newser) - President Biden announced Tuesday that his administration will extend the pause on federal student loan payments while the White House fights a legal battle to save his plan to cancel portions of the debt. "It isn't fair to ask tens of millions of borrowers eligible for relief to...

Appeals Court Grants Injunction Blocking Student Debt Plan

Courts have kept Biden's forgiveness plan from getting started

(Newser) - A federal appeals court granted a preliminary injunction Monday pausing President Biden's program to wipe clean billions of dollars in student debt, the AP reports. Six states challenging the plan had asked the 8th Circuit Court of Appeals in St. Louis for an injunction while issues around the case...

Biden's Student Debt Plan Hits Temporary Roadblock

Federal appeals court puts relief program on hold for now as it reviews case brought by 6 GOP states

(Newser) - Update: President Biden's student loan relief program has been put on hold, at least temporarily, due to an order from a federal appeals court. The New York Times reports that the directive from the 8th US Circuit Court of Appeals, which mandates that the debt cancellation set to start...

Some Borrowers Ineligible After Student Loan Plan Tweak

The change was quietly made the same day 6 GOP-led states sued

(Newser) - With six Republican-led states now suing to stop President Biden's student loan debt relief plan from coming to pass, his administration on Thursday made a quiet, unannounced change to that plan. As CNN reports, about 770,000 borrowers whose federal student loans are guaranteed by the government but are...

America's Student Debt Total Getting $500M Lighter

Loan relief granted to former ITT Tech students

(Newser) - The Education Department said Wednesday it's erasing student debt for thousands of borrowers who attended a for-profit college chain that made exaggerated claims about its graduates' success in finding jobs and students' ability to transfer credits elsewhere. The Biden administration said it's approving 18,000 loan forgiveness claims...

Mnuchin: Let's Forgive Those Small-Business Loans

The treasury secretary echoes a proposal made by banks and trade associations

(Newser) - Good news for small-business owners: You might not have to pay back that federal loan. Treasury Secretary Steven Mnuchin said as much Friday in a House committee meeting where he pushed for another round of Paycheck Protection Program loans to struggling businesses, the Wall Street Journal reports. "One of...

A Student-Loan Debt 'Bomb' Is Going to Go Off in 2027
They Think Their Student Loans
Will Vanish. There's a Problem
IN CASE YOU MISSED IT
Jul 1, 2018 6:38 AM CDT

They Think Their Student Loans Will Vanish. There's a Problem

When the 20 years are up, there's a tax bill

(Newser) - For some 3.2 million Americans who work in the private sector, it has apparently seemed like a good deal: Lock in their monthly federal student-loan payments at 10% of their discretionary income. Make those payment for 20 years (25 if it's graduate school debt, notes Forbes ). Hit...

Trump Budget Calls for Big Changes to Student Aid

Document sets out plan to end subsidies

(Newser) - The Trump administration is proposing to eliminate subsidized student loans and end student debt forgiveness for those who enter public service, according to a budget document released late Monday. The proposals are likely to face criticism amid calls to make college more affordable and as millions are struggling to pay...

Many Parents Have to Pay Off Dead Kids' Student Loans

Families often have little legal recourse in these cases

(Newser) - Probably the last thing parents mourning a deceased child want to do is deal with late notices from creditors—especially when those notices are for a student loan taken out by their lost loved one. That's what happened to pastor Steve Mason, who found himself saddled with a $100,...

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