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 years of payments, a new finish line for some loans that’s a decade sooner than what borrowers faced in the past. “I will never stop working to cancel student debt — no matter how many times Republican elected officials try to stop us.” With the latest action, the Education Department has now approved cancellation for about 360,000 borrowers through the new repayment plan, totaling $4.8 billion.

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History of this topic

Biden cancels $4.28 bn more in student debt before leaving office
3 days, 2 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 …

Biden scraps plans to cancel widespread student loan debt
3 days, 18 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The Biden administration has withdrawn its proposals for large-scale student loan relief programs, closing the door on mass loan forgiveness in the remaining weeks of his term.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 …

Biden cancels another $4.2bn in US student loans before leaving office
3 days, 18 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 administration provides $4.28 billion in student debt relief
3 days, 18 hours ago

Biden administration provides $4.28 billion in student debt relief

Politico  

Some Democrats on Capitol Hill have been pushing for the administration to forgive borrowers who are eligible before Biden leaves office. They also expressed concern that President-elect Donald Trump’s administration would not provide the same level of debt relief to borrowers. “During his first term President Trump refused to deliver meaningful debt relief for borrowers. “President Trump’s negligence has led …

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 …

Student loans and Trump: Borrowers brace for changes
1 month ago

Student loans and Trump: Borrowers brace for changes

Salon  

From the future of the Affordable Care Act to the fate of same-sex marriage, Donald Trump's reelection has prompted many questions over what to expect in the next four years. In Trump’s first term, he attempted to eliminate the Public Service Loan Forgiveness program, a federal initiative that forgives the remaining balance on direct loans. “Project 2025 calls for ending …

Biden administration scrambles to spend funds, approve projects in its final weeks
1 month, 1 week ago

Biden administration scrambles to spend funds, approve projects in its final weeks

LA Times  

Biden administration officials are working against the clock doling out billions in grants and taking other steps to try to preserve at least some of the outgoing president’s legacy before President-elect Donald Trump takes office in January. “Let’s make every day count,” President Biden said in an address to the nation after Vice President Kamala Harris conceded defeat to Trump …

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 …

What a Trump presidency might mean for student loan forgiveness
1 month, 1 week ago

What a Trump presidency might mean for student loan forgiveness

NPR  

What a Trump presidency might mean for student loan forgiveness toggle caption Moor Studio/Getty Images Millions of federal student loan borrowers are facing uncertainty — or, rather, even more uncertainty — after last week's presidential election. Biden's signature student loan repayment plan, the Saving on a Valuable Education Plan, slashed borrowers' monthly payments while also preventing interest from growing what …

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 …

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 {{ …

Biden's student loan cancellation free to move forward as court order expires
2 months, 2 weeks ago

Biden's student loan cancellation free to move forward as court order expires

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 President Joe Biden’s latest attempt …

'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 …

New Biden student loan repayment plan put on hold by appeals court
5 months ago

New Biden student loan repayment plan put on hold by appeals court

LA Times  

President Biden’s efforts to relieve student debt have been bouncing among courts due to opposition from many GOP-led states. A federal appeals court has put a temporary hold on the Biden administration’s latest student loan repayment plan, leaving millions of borrowers in the dark about how to resolve their debts. The plan has helped “over 8 million borrowers access lower …

Federal appeals court blocks remainder of Biden's student debt relief plan
5 months ago

Federal appeals court blocks remainder of Biden's student debt relief plan

NPR  

Federal appeals court blocks remainder of Biden's student debt relief plan toggle caption Evan Vucci/AP WASHINGTON — A federal appeals court blocked the implementation of the Biden administration's student debt relief plan, which would have lowered monthly payments for millions of borrowers. In a ruling Thursday, the 8th Circuit Court of Appeals granted a motion for an administrative stay filed …

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 …

35,000 more public servants see their student loan balances reduced or erased
5 months ago

35,000 more public servants see their student loan balances reduced or erased

NPR  

35,000 more public servants see their student loan balances reduced or erased toggle caption LA Johnson/NPR Thousands more public servants will soon see their student loan balances reduced or erased, the Biden administration announced on Thursday. “This is relief that will bring real change in lives, and marks another win for this Administration’s relentless and unapologetic work to fix a …

Student loan borrowers can slash their monthly payments — for now. Here’s what to know
5 months, 3 weeks ago

Student loan borrowers can slash their monthly payments — for now. Here’s what to know

LA Times  

Student loan borrowers enrolled in a new federal repayment plan could see their monthly payments cut in half in the near future, thanks to a last-minute reprieve by a federal appeals court. “Where we are is just not fair for student loan borrowers.” The Education Department continues to work on a separate rule that would offer debt relief to an …

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 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 …

More student loan forgiveness available, but April 30 deadline looms
7 months, 3 weeks ago

More student loan forgiveness available, but April 30 deadline looms

LA Times  

Californians who obtained federally backed student loans from private banks can have some or all of their remaining debt forgiven by the Biden administration, but they need to act fast: The deadline for qualifying is Tuesday. The Education Department launched the Income Driven Repayment One-Time Adjustment initiative in 2022 to address complaints about loan servicing companies losing track of payments, …

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 …

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 …

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 …

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 …

What to know about the SAVE plan, the income-driven plan to repay student loans
9 months, 1 week ago

What to know about the SAVE plan, the income-driven plan to repay student loans

Associated Press  

NEW YORK — More than 7.5 million student loan borrowers have enrolled in the U.S. government’s newest repayment plan since it launched in August. President Joe Biden recently announced that he was canceling federal student loans for nearly 153,000 borrowers enrolled in the plan, known as the SAVE plan. Borrowers can apply to the SAVE plan using the Income-Driven Repayment …

Biden’s Plan B on Student Loan Forgiveness Is a Massive and Improbable Success
54 years, 11 months ago

Biden’s Plan B on Student Loan Forgiveness Is a Massive and Improbable Success

Slate  

The Supreme Court’s rejection of President Joe Biden’s student debt cancellation plan last year was a major blow to his agenda. The administration has also prioritized relief for lower-income borrowers, making critical improvements to the income-driven repayment program that has already canceled $45.6 billion in student loan debt for 930,500 borrowers. Biden’s Education Department has also been cracking down on …

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