Biden cancels $4.28 bn more in student debt before leaving office
2 days, 22 hours ago

Biden cancels $4.28 bn more in student debt before leaving office

Raw Story  

U.S. President Joe Biden said Friday he was canceling student loans for an additional 55,000 Americans, which would amount to wiping out $4.28 billion in debt in his final month in office. US Secretary of Education Miguel Cardona said in a statement that Friday's approval brings the total amount secured during Biden's four years in office to "nearly $180 billion in life-changing student debt relief for nearly five million borrowers." The Democratic president had instated a landmark forgiveness program in 2022 to cancel hundreds of billions in student debt -- which would have made certain borrowers eligible to receive $20,000 in cancellations, while the vast majority were eligible for $10,000. According to the Pew Research Center, one in four American adults under 40 have student loan debt, with the median amount owed being between $20,000 and 25,000 in 2023, varying by education level.

Debt Biden Student Debt  education  relief  leaving  cancels  program  statement  service  debt  student  biden  million  428  president  office  nearly  bn

History of this topic

Biden cancels another $4.2bn in US student loans before leaving office
3 days, 14 hours ago

Biden cancels another $4.2bn in US student loans before leaving office

Al Jazeera  

Move brings total in student loan forgiveness during Joe Biden’s term as president to $180bn, Education Department says. US President Joe Biden’s administration is cancelling student loans for another 55,000 people in the United States, amounting to $4.2bn in debt forgiveness just weeks before his time in office ends. Under Biden, the Education Department loosened the rules for public service …

Biden scraps plans to cancel widespread student loan debt
3 days, 14 hours ago

Biden scraps plans to cancel widespread student loan debt

Salon  

The Biden administration has withdrawn its proposals for large-scale student loan relief programs, closing the door on mass loan forgiveness in the remaining weeks of his term. The U.S. Department of Education is rescinding two of its major student loan proposals, which would have considered some amount of loan forgiveness for at least 38 million Americans, according to Politico. In …

Many student loans bills could double under Trump: report
2 weeks, 6 days ago

Many student loans bills could double under Trump: report

Raw Story  

Many student loan borrowers could see their bills double under Donald Trump's second term if his administration chooses not to defend the SAVE plan in court, or if Republicans in Congress eliminate the plan, according to a report. President Joe Biden's student loan repayment plan capped the monthly payment requirements at 5% of the borrower's income, which is half of …

Some student loan borrowers may have to pay more under Trump
3 weeks ago

Some student loan borrowers may have to pay more under Trump

Salon  

Around 8 million student loan borrowers might see their monthly payments double if President-elect Donald Trump dismantles President Joe Biden's repayment plan, according to CNBC. But Trump has criticized broad-based student loan forgiveness and called Biden’s student loan relief program “vile” during his campaign. Bob Eitel, who served during the first Trump administration as a senior counselor to the education …

Higher payments loom for many student loan borrowers under Trump
1 month, 1 week ago

Higher payments loom for many student loan borrowers under Trump

LA Times  

USC students attend graduation from Viterbi School of Engineering at the Galen Center in Los Angeles on May 10, 2024. Here is a rundown of where the major Biden student debt relief initiatives stand: Current debt relief programs In July 2023, the Education Department launched the first elements of its Saving on a Valuable Education repayment plan to cut payments …

Trump's win in US Elections brings uncertainty to borrowers hoping for student loan forgiveness
1 month, 2 weeks ago

Trump's win in US Elections brings uncertainty to borrowers hoping for student loan forgiveness

Hindustan Times  

Savannah Britt owes about $27,000 on loans she took out to attend college at Rutgers University, a debt she was hoping to see reduced by President Joe Biden's student loan forgiveness efforts. President-elect Donald Trump and his fellow Republicans have criticized Biden's loan forgiveness efforts, and lawsuits by GOP-led states have held up plans for widespread debt cancellation. She owes …

Trump’s win brings uncertainty to borrowers hoping for student loan forgiveness
1 month, 2 weeks ago

Trump’s win brings uncertainty to borrowers hoping for student loan forgiveness

Associated Press  

Savannah Britt owes about $27,000 on loans she took out to attend college at Rutgers University, a debt she was hoping to see reduced by President Joe Biden’s student loan forgiveness efforts. She owes about $18,000, and she was in the process of it being forgiven, but it’s at a standstill.” President-elect Donald Trump and his fellow Republicans have criticized …

Trump’s win brings uncertainty to borrowers hoping for student loan forgiveness
1 month, 2 weeks ago

Trump’s win brings uncertainty to borrowers hoping for student loan forgiveness

LA Times  

Savannah Britt owes about $27,000 on loans she took out to attend college at Rutgers University, a debt she was hoping to see reduced by President Joe Biden’s student loan forgiveness efforts. Trump called it a “total catastrophe” that “taunted young people.” Biden promised the student loan cancellation program during his run for the presidency. From its launch, Biden’s loan …

Trump win clouds Biden's student debt cancellation efforts
1 month, 2 weeks ago

Trump win clouds Biden's student debt cancellation efforts

India Today  

President-elect Donald Trump’s victory has cast doubt on the future of student loan forgiveness in the US, raising concerns for borrowers who had hoped for relief under President Joe Biden’s policies. Both hoped for relief from Biden’s proposed loan forgiveness, but now, with Trump and Republican-led states opposing the programme, the future of these efforts remains uncertain. REPUBLICAN CRITICISM AND …

Economists welcome student debt repayment changes but say government could do better for students than slash HECS debt
1 month, 2 weeks ago

Economists welcome student debt repayment changes but say government could do better for students than slash HECS debt

ABC  

The federal government's plan to overhaul student loan repayments has received a mixed reception from economists, who say it misses the major problem with higher education costs. "Some people are paying part of their HECS debt when they don't have enough income to justify it, so that's the most important thing," the emeritus professor said. Dr Jackson said, from a …

Western Sydney University reveals massive problem with Anthony Albanese's 'broken' $16billion plan to slash student debt
1 month, 2 weeks ago

Western Sydney University reveals massive problem with Anthony Albanese's 'broken' $16billion plan to slash student debt

Daily Mail  

A university Vice-Chancellor claims Prime Minister Anthony Albanese's plan to reduce student debt does not go far enough in tackling the 'broken' and 'deeply unfair' system. Western Sydney University Vice-Chancellor, George Williams, said the proposed reforms were 'extremely welcome' but warned they did not go far enough in addressing the cause of Australia's 'broken higher education system'. Prime Minister Anthony …

Re-elected Albanese government would slash HECS-HELP debts by 20 per cent
1 month, 3 weeks ago

Re-elected Albanese government would slash HECS-HELP debts by 20 per cent

ABC  

Student debts would be slashed by 20 per cent under the latest part of the federal government's election pitch to ease cost of living pressures for young Australians. A university graduate with the average debt of $27,600 would see about $5,520 wiped from their outstanding loan next year under a re-elected Albanese government. The government has framed the policy — …

Biden trying again at student loan cancellation, this time for those with financial hardships
1 month, 4 weeks ago

Biden trying again at student loan cancellation, this time for those with financial hardships

LA Times  

President Biden campaigned for the White House on a promise of new student loan cancellation, but his biggest plans have been halted by Republican opponents and the courts. The proposed rule is President Biden’s third attempt at student loan cancellation as he faces repeated legal challenges from Republican states. “For far too long, our broken student loan system has made …

Biden's Student Loan Repayment Plan Faces Legal Challenge as Court Sets Hearing
1 month, 4 weeks ago

Biden's Student Loan Repayment Plan Faces Legal Challenge as Court Sets Hearing

CNN  

The 8th US Circuit Court of Appeals is set to rule on a Republican-led lawsuit challenging President Joe Biden's student loan repayment plan. The SAVE (Saving on a Valuable Education) plan lowers monthly payments and shortens the time it takes to receive student loan forgiveness. If allowed to move forward, the repayment plan could be the most significant change the …

The Biden administration has now canceled loans for more than 1 million public workers
2 months ago

The Biden administration has now canceled loans for more than 1 million public workers

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

'Dangerous': Judge blocks student debt relief rule that doesn't exist yet
3 months, 2 weeks ago

'Dangerous': Judge blocks student debt relief rule that doesn't exist yet

Raw Story  

A Republican-appointed U.S. federal judge in Georgia raised eyebrows and objections Thursday after taking what observers called the "unprecedented" step of blocking a rule that hasn't even been finalized in order to stop the Biden administration from implementing a plan to deliver promised debt relief to millions of student borrowers. U.S. District Judge for the Southern District of Georgia James …

Supreme Court keeps on hold Biden’s scaled-down plan to reduce student loan debt
3 months, 3 weeks ago

Supreme Court keeps on hold Biden’s scaled-down plan to reduce student loan debt

LA Times  

The Supreme Court denied an emergency appeal from the Biden administration, saying it would wait for a further ruling from a U.S. appeals court in St. Louis. The Supreme Court on Wednesday kept on hold a plan by President Biden to reduce student loan monthly payments for millions of borrowers and cancel loans after they have been paid on for …

Supreme Court won’t reinstate Biden’s loan repayment program
3 months, 3 weeks ago

Supreme Court won’t reinstate Biden’s loan repayment program

Politico  

In a second order issued on Wednesday, the justices also tossed out a request from a different group of states seeking to overturn an emergency ruling from the 10th Circuit Court of Appeals that briefly allowed parts of the plan to remain in place. Last year, the Supreme Court rejected an earlier plan that would have eliminated more than $400 …

Biden administration cancels another $1.2 billion in student loans for public service workers
5 months ago

Biden administration cancels another $1.2 billion in student loans for public service workers

Associated Press  

The Biden administration is cancelling an additional $1.2 billion in student loans for borrowers who work in public service through changes to an existing forgiveness program. The relief for roughly 35,000 borrowers was announced Thursday by the Education Department and made through changes to the Public Service Loan Forgiveness program, which benefits workers such as teachers, nurses and firefighters. “These …

Appeals court allows part of Biden student loan repayment plan to go forward
5 months, 3 weeks ago

Appeals court allows part of Biden student loan repayment plan to go forward

Associated Press  

WASHINGTON — A federal appeals court has allowed the U.S. Education Department to move ahead with a plan to lower monthly payments for millions of student loan borrowers, putting on hold a ruling last week by a lower court. Circuit Court of Appeals puts back on track a central part of President Joe Biden’s efforts to address student debt — …

Biden’s student loan work gets tepid reviews — even among those with debt, an AP-NORC poll finds
6 months, 1 week ago

Biden’s student loan work gets tepid reviews — even among those with debt, an AP-NORC poll finds

Associated Press  

WASHINGTON — As he campaigns for reelection, President Joe Biden frequently touts his work on student debt, pointing to the millions of people who received cancellation under his watch. After Biden’s first attempt at widespread student loan cancellation was struck down by the Supreme Court last year, he proposed a more targeted plan offering relief to certain categories of borrowers. …

Overwhelmed by student loans? A free new California program can help you
6 months, 2 weeks ago

Overwhelmed by student loans? A free new California program can help you

LA Times  

A network of legal aid organizations and nonprofits with state funding is available to help Californians understand their student loans. A new program created by California’s consumer protection agency aims to provide free, personalized help for Golden State borrowers struggling to navigate the complex, byzantine student loan system. The Student Loan Empowerment Network is designed to provide financial coaching and …

Millions of Aussie students to be hit with debt increase tomorrow - but new law offers a silver lining
6 months, 3 weeks ago

Millions of Aussie students to be hit with debt increase tomorrow - but new law offers a silver lining

Daily Mail  

The average student debt of $26,494 will see an increase of $1,245 Three million students with a HECS-HELP debt will be slugged an increase on what they owe on Saturday. Students will have a 4.7 per cent indexation increase applied to their HECS debt and other higher education loans. Almost three million university students will have their student loan repayment, …

Biden administration cancelling student loans for another 160,000 borrowers
7 months ago

Biden administration cancelling student loans for another 160,000 borrowers

Hindustan Times  

The Biden administration is cancelling student loans for another 160,000 borrowers through a combination of existing programs. A separate action by the Biden administration aimed to correct previous mistakes that delayed cancellation for some borrowers enrolled in other repayment plans and through Public Service Loan Forgiveness, which forgives loans for people who make 10 years of payments while working in …

Biden administration canceling student loans for another 160,000 borrowers
7 months ago

Biden administration canceling student loans for another 160,000 borrowers

Associated Press  

WASHINGTON — The Biden administration is canceling student loans for another 160,000 borrowers through a combination of existing programs. A separate action by the Biden administration aimed to correct previous mistakes that delayed cancellation for some borrowers enrolled in other repayment plans and through Public Service Loan Forgiveness, which forgives loans for people who make 10 years of payments while …

Biden administration canceling student loans for another 160,000 borrowers
7 months ago

Biden administration canceling student loans for another 160,000 borrowers

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Biden administration is canceling …

$6.1 billion in student loan debt canceled for enrollees at for-profit Art Institutes
7 months, 2 weeks ago

$6.1 billion in student loan debt canceled for enrollees at for-profit Art Institutes

LA Times  

People walk past the Art Institute of Philadelphia in 2015. 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 in 2023 amid accusations of fraud. On Wednesday, the Biden administration announced that it was canceling $6.1 billion in student loan debt …

Biden cancels $6 billion in student loans for 317,000 Americans scammed by art school and brings total handouts to more than $160 billion before the 2024 election
7 months, 3 weeks ago

Biden cancels $6 billion in student loans for 317,000 Americans scammed by art school and brings total handouts to more than $160 billion before the 2024 election

Daily Mail  

The Biden administration announced Wednesday it canceled $6 billion in student debt for borrowers who attended the Art Institutes between 2004 and 2017. Numerous legal actions accused the U.S. college chain of using 'pervasive' methods to entice students, including using one-time student Serena Williams ' multi-million dollar salary as a means to skew the average wage of alumni. People walk …

Biden accused of using student loan forgiveness program to PAY pro-Palestine activists with taxpayer dollars as campus protests continue
7 months, 4 weeks ago

Biden accused of using student loan forgiveness program to PAY pro-Palestine activists with taxpayer dollars as campus protests continue

Daily Mail  

Republicans are blasting Biden's student loan forgiveness plan for providing millions of taxpayer dollars to the students wreaking havoc at anti-Israel protests nationwide. Now, Republicans are using the protests as a cudgel to slam Joe Biden's student loan forgiveness program, claiming that the president wants to pay the protestors' bills. NYPD officers face protestors after detaining demonstrators and clearing an …

Biden’s latest plan for student loan cancellation moves forward as a proposed regulation
8 months, 1 week ago

Biden’s latest plan for student loan cancellation moves forward as a proposed regulation

Associated Press  

WASHINGTON — President Joe Biden’s latest plan for student loan cancellation is moving forward as a proposed regulation, offering him a fresh chance to deliver on a campaign promise and energize young voters ahead of the November election. The Education Department said it’s still working on the details of that rule, with a separate proposal to come “in the coming …

The real reason Republicans oppose efforts to cancel student debt
8 months, 1 week ago

The real reason Republicans oppose efforts to cancel student debt

Raw Story  

I don’t get it and I’m hoping you can help me figure it out. The week before, somebody slipped this little gem into Maria Cantwell’s must-pass legislation reauthorizing the Federal Aviation Administration : “The Secretary, the Secretary of the Treasury, or the Attorney General may not take any action to cancel or forgive the outstanding balances, or portion of balances, …

GOP lawmaker complaining about student debt relief gets a brutal reminder from White House
8 months, 1 week ago

GOP lawmaker complaining about student debt relief gets a brutal reminder from White House

Raw Story  

A Republican lawmaker complained about student loan forgiveness, only to have the White House remind him about his own forgiven debts. "Biden's debt transfer scheme puts the burden on taxpayers, forcing the 87% without loans to foot the bill for the 13% who do," Hern said on social media. Instead, it reposted Hern's message with a simple caption: "Congressman Kevin …

Biden cancels ANOTHER $7.4 BILLION in student loan debt: President has now erased $153 billion for 4.3 million Americans in scheme ripped by critics as a bid to 'buy votes'
8 months, 1 week ago

Biden cancels ANOTHER $7.4 BILLION in student loan debt: President has now erased $153 billion for 4.3 million Americans in scheme ripped by critics as a bid to 'buy votes'

Daily Mail  

Latest effort brings number of borrowers to have debt wiped to 4.3 million Debt is being wiped out for borrowers enrolled in the SAVE plan, Income-Driven Repayment plan and Public Service Loan Forgiveness plan The White House has announced it is wiping out another $7.4 billion in student loan debt for 277,000 borrowers, bringing the total canceled by the Biden …

Biden administration announces another round of loan cancellation under new repayment plan
8 months, 1 week ago

Biden administration announces another round of loan cancellation under new repayment plan

Associated Press  

WASHINGTON — The Biden administration is canceling student loans for another 206,000 borrowers as part of a new repayment plan that offers a faster route to forgiveness. More people are becoming eligible for student loan cancellation as they hit 10 years of payments, a new finish line for some loans that’s a decade sooner than what borrowers faced in the …

Biden administration announces another round of loan cancellation under new repayment plan
8 months, 1 week ago

Biden administration announces another round of loan cancellation under new repayment plan

LA Times  

President Biden’s administration has announced it is canceling student loans for 206,000 more borrowers as part of a new repayment plan. The Biden administration is canceling student loans for an additional 206,000 borrowers as part of a new repayment plan that offers a faster route to forgiveness. More people are becoming eligible for student loan cancellation as they hit 10 …

The 18 states suing the Biden administration over student loan debt
8 months, 1 week ago

The 18 states suing the Biden administration over student loan debt

Daily Mail  

Eighteen Republican led states are attempting to block President Biden's student loan forgiveness effort to cancel billions in student loan debt. The lawsuit comes after eleven other states led by Kansas recently filed another lawsuit against the Biden administration over the program that began forgiving student loan debt earlier this year. While states are challenging the SAVE program, the Biden …

REVEALED: The 18 states suing the Biden administration over bid to cancel BILLIONS in student debt... as president pushes latest bid despite legal concerns
8 months, 1 week ago

REVEALED: The 18 states suing the Biden administration over bid to cancel BILLIONS in student debt... as president pushes latest bid despite legal concerns

Daily Mail  

Eighteen Republican led states are attempting to block President Biden's student loan forgiveness effort to cancel billions in student loan debt. The lawsuit comes after eleven other states led by Kansas recently filed another lawsuit against the Biden administration over the program that began forgiving student loan debt earlier this year. President Biden at an event to address student loan …

More Republican states sue to block Biden’s student loan repayment plan
8 months, 1 week ago

More Republican states sue to block Biden’s student loan repayment plan

Associated Press  

WASHINGTON — Another group of Republican-led states is suing to block the Biden administration’s new student loan repayment plan, which offers a faster path to cancellation and has already been used to forgive loans for more than 150,000 borrowers. Seven states led by Missouri filed a federal lawsuit Tuesday challenging Biden’s SAVE Plan, which has become a new legal target …

More Republican states sue to block Biden’s student loan repayment plan
8 months, 1 week ago

More Republican states sue to block Biden’s student loan repayment plan

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Another group of Republican-led states …

Biden pitches student loan relief plan, 23 million Americans may benefit
8 months, 2 weeks ago

Biden pitches student loan relief plan, 23 million Americans may benefit

India Today  

President Joe Biden announced on Monday plans to ease student debt that would benefit at least 23 million Americans, addressing a key issue for young voters whose support he needs as he seeks re-election in November. Republicans have called Biden's student loan forgiveness approach an overreach of his authority and an unfair benefit to college-educated borrowers while other borrowers received …

What to know about Biden’s latest attempt at student loan cancellation
8 months, 2 weeks ago

What to know about Biden’s latest attempt at student loan cancellation

Associated Press  

WASHINGTON — President Joe Biden is taking another shot at student loan cancellation, hoping to deliver on a key campaign promise that he has so far failed to fulfill. Biden’s first attempt at widespread student loan cancellation would have erased $10,000 for borrowers with yearly incomes of up to $125,000, plus an additional $10,000 if they received federal Pell grants …

Biden's massive bid to wipe student loan debt for 30 MILLION Americans: President plans to cancel unpaid interest for 23 million borrowers and erase all costs for four million who have been paying for
8 months, 2 weeks ago

Biden's massive bid to wipe student loan debt for 30 MILLION Americans: President plans to cancel unpaid interest for 23 million borrowers and erase all costs for four million who have been paying for

Daily Mail  

Goal is for the administration to start canceling debt under the plans this fall Plan includes debt cancelation for undergraduates who entered repayment 20 or more years ago and graduate students who entered repayment 25 years ago Borrowers could see up to $20,000 in unpaid student loan interest erased The Biden administration unveiled its latest effort to cancel millions in …

Biden promotes ‘life-changing’ student loan relief in Wisconsin as he rallies younger voters
8 months, 2 weeks ago

Biden promotes ‘life-changing’ student loan relief in Wisconsin as he rallies younger voters

Associated Press  

MADISON, Wis. — President Joe Biden said Monday that more than 30 million borrowers would see “life-changing” relief from his new plan to ease their student loan debt burdens, a fresh attempt by the Democratic president to follow through on a campaign pledge that could buoy his standing with younger voters. Republicans said Biden’s plan shifts the financial burden of …

Biden proposes new student-debt relief. Here’s who would benefit
8 months, 2 weeks ago

Biden proposes new student-debt relief. Here’s who would benefit

LA Times  

The Biden administration is proposing a rule to reduce or erase the debts of millions of student-loan borrowers. After months of hearings and negotiations, the Biden administration announced its latest plans Monday for student debt relief, proposing changes that would save about 30 million borrowers billions of dollars in total. Debt cancellation for students at schools or programs that were …

Granderson: Biden tries to forgive student loans as costs surge
8 months, 2 weeks ago

Granderson: Biden tries to forgive student loans as costs surge

LA Times  

Sure, Nashville is lovely. Last summer, the Supreme Court ruled that he couldn’t use the HEROES Act — passed after 9/11, just as the Iraq War was escalating — to forgive federal student loan debt for roughly 20 million borrowers. However, the most prevalent response to Biden’s attempt to forgive student loan debt is summed up in this quote from …

President Joe Biden will unveil his new plan to give student loan relief to many new borrowers
8 months, 2 weeks ago

President Joe Biden will unveil his new plan to give student loan relief to many new borrowers

Associated Press  

WASHINGTON — President Joe Biden will announce his latest effort to broaden student loan relief next week for new categories of borrowers, according to three people familiar with the plans, nearly a year after the Supreme Court foiled his administration’s first attempt to cancel debt for millions who attended college. Biden called that decision a “mistake” and “wrong.” And the …

Republican states file lawsuit challenging Biden’s student loan repayment plan
8 months, 3 weeks ago

Republican states file lawsuit challenging Biden’s student loan repayment plan

Associated Press  

TOPEKA, Kan. — A group of Republican-led states is suing the Biden administration to block a new student loan repayment plan that provides a faster path to cancellation and lower monthly payments for millions of borrowers. It argues that the new plan is no different from Biden’s first attempt at student loan cancellation, which the Supreme Court rejected last year. …

78,000 more public workers are getting student loans canceled through Biden administration changes
9 months ago

78,000 more public workers are getting student loans canceled through Biden administration changes

Associated Press  

WASHINGTON — Another 78,000 Americans are getting their federal student loans canceled through a program that helps teachers, nurses, firefighters and other public servants, the Biden administration announced Thursday. The Education Department is canceling the borrowers’ loans because they reached 10 years of payments while working in public service, making them eligible for relief under the Public Service Loan Forgiveness …

The case for no candidate like Biden ever again
9 months ago

The case for no candidate like Biden ever again

Al Jazeera  

The past three years of United States President Joe Biden’s administration have been perceived as an amazing success and dismal failure, depending on who you ask. That was due to amendments to the Higher Education Act that Biden had also supported and that expanded student loans as the primary method to pay for tuition for first-generation students from families living …

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