While student loan forgiveness has been a focus throughout Joe Biden’s presidency, little is known about the borrowers lucky enough to actually receive relief. To fill the information vacuum, the Consumer Financial Protection Bureau (CFPB) on Wednesday released a first-of-its-kind study of borrowers whose student loans were partially or fully forgiven. “Student loan debt relief … Read more
Student loan borrowers hungry for more government help could see very different policies next year depending on who lives in the White House. With nearly one in five U.S. adults carrying student debt, student loan policy tends to lag behind other economic issues in the eyes of voters. Still, about 4 in 10 adults say … Read more
Despite stiff legal opposition, the Biden administration is moving forward with a new plan to cancel federal student loans for millions of borrowers. The Education Department released new forgiveness rules Friday as part of its latest effort to broadly forgive student debt. The agency says the plan, if finalized, would provide one-time debt relief to … Read more
More than 1 million student loan borrowers are currently eligible for public service loan forgiveness. The milestone comes after the Biden administration on Thursday announced the latest round of forgiveness for public sector workers, resulting in more than 60,000 borrowers receiving $4.5 billion in debt forgiveness. Overall, the program has forgiven about $74 billion in … Read more
A group of Republican-led states has thrown another wrench in the Biden administration’s attempts to reform the federal student loan system. On Thursday, a federal court in Georgia temporarily blocked President Biden’s latest effort to broadly forgive student loans, which was slated to cancel an estimated $150 billion of student loan debt starting as early … Read more