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
Washington: US President Joe Biden on Thursday announced additional student debt relief for public sector employees — amounting to about $4.5 billion — with just over two weeks remaining until the presidential election. The measure affects about 60,000 borrowers across the country, the White House said, praising efforts by Biden and Vice President Kamala Harris … 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
US President Joe Biden delivers remarks on the economy at IBEW Local 26 in Lanham, Maryland, US, February 15, 2023. — Reuters US President Joe Biden announced Thursday additional student debt relief for public sector employees amounting to about $4.5 billion, with just over two weeks remaining until the presidential election. This will help about … Read more
Ads by Money. We may be compensated if you click this ad.Ad For the first time in years, Americans are living in a world of falling interest rates. With the Federal Reserve cutting its benchmark interest rate in September by half of a percentage point — and more rate cuts likely in the pipeline — … Read more
Protections aimed at helping federal student loan borrowers get back into the habit of making monthly payments end next week. The so-called “on-ramp” for returning to repayment blocked the worst consequences of missing student loan payments after monthly billing resumed last fall following a more than three-year pause during the pandemic. The on-ramp officially expires … Read more
The federal government is ordering student loan servicer Navient to pay a hefty fine aimed at redressing exploited borrowers. The Consumer Financial Protection Bureau (CFPB) filed a proposed order Thursday against Navient, fining the financial firm $120 million and recommending it be permanently banned from servicing federal student loans. Part of that money is earmarked … 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
Ads by Money. We may be compensated if you click this ad.Ad Student loan debt has been linked with lower homeownership rates, stunted career growth and delayed retirement savings. So it’s little surprise that many borrowers are eager to be debt-free as quickly and efficiently as possible. Much of what works for knocking out other … Read more