EXPLAINER: What’s behind changes in student loan forgiveness
3 years, 3 months ago

EXPLAINER: What’s behind changes in student loan forgiveness

Associated Press  

A student debt forgiveness program with notoriously complex eligibility rules is getting an overhaul from the Biden administration, with the intent of extending debt relief to thousands of public workers. The Education Department announced Wednesday that it will lift some rules for Public Service Loan Forgiveness while it works on permanent improvements through a rulemaking process. Borrowers with FFEL loans — the ones issued by banks — must get their student debt consolidated into new loans under the existing federal loan system. The Education Department said it’s exploring a variety of changes, including possible partnerships with employers, to make it easier for public servants to apply for loan forgiveness.

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History of this topic

More student loans canceled in Biden’s final round of forgiveness before leaving office
3 weeks, 5 days ago

More student loans canceled in Biden’s final round of forgiveness before leaving office

The Hindu  

The Biden administration is canceling federal student loans for another 55,000 workers through an existing program known as Public Service Loan Forgiveness. Under Mr. Biden, the Education Department loosened the rules for Public Service Loan Forgiveness, which previously had a 99% rejection rate amid burdensome rules and widespread confusion over eligibility requirements. With the latest round of relief, Mr. Biden …

Student loans and Trump: Borrowers brace for changes
1 month, 3 weeks 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 …

What a Trump presidency might mean for student loan forgiveness
2 months 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 …

Federal appeals court blocks remainder of Biden's student debt relief plan
5 months, 4 weeks 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, 4 weeks 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, 4 weeks 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 …

More student loan forgiveness available, but April 30 deadline looms
8 months, 2 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 administration looks to expand student loan forgiveness to those facing ‘hardship’
11 months ago

Biden administration looks to expand student loan forgiveness to those facing ‘hardship’

Associated Press  

WASHINGTON — Americans who are struggling to repay federal student loans because of financial hardship could get some of their debt canceled under President Joe Biden’s latest proposal for widespread loan forgiveness. Here’s what we know so far about who could be eligible for cancellation under the Biden plan: HARDSHIP Borrowers facing financial hardship could see relief under the newest …

Student loan forgiveness isn't dead yet, and other takeaways from 2023
1 year ago

Student loan forgiveness isn't dead yet, and other takeaways from 2023

NPR  

Student loan forgiveness isn't dead yet, and other takeaways from 2023 Enlarge this image Margaret Flatley for NPR Margaret Flatley for NPR Federal student loan borrowers have had quite a year. Margaret Flatley for NPR Many, perhaps most borrowers will tell you that 2023 was the year the idea of "student loan forgiveness" died atop the mahogany bench of the …

Biden is trying again on student loan forgiveness. Here’s where the process stands
1 year, 3 months ago

Biden is trying again on student loan forgiveness. Here’s where the process stands

Associated Press  

NEW YORK — President Joe Biden is making another attempt at student loan cancellation after the Supreme Court ruled earlier this year that his administration couldn’t forgive $400 billion in student loan debt using a 2003 law called the HEROES Act. “The HEA gives the Secretary of Education the authority to ‘enforce, pay, compromise, waive, or release any right, title, …

Borrowers are reassessing their budgets as student loan payments resume after pandemic pause
1 year, 3 months ago

Borrowers are reassessing their budgets as student loan payments resume after pandemic pause

Associated Press  

NEW YORK — Millions of Americans must start repaying their federal student loans again in October, with monthly payments averaging hundreds of dollars. “If they were forgiven out of the blue, I’d be ecstatic.” The Supreme Court in July rejected a plan by President Joe Biden’s administration to wipe away $400 billion in student loan debt. On an earnings call …

Borrowers are reassessing their budgets as student loan payments resume after pandemic pause
1 year, 3 months ago

Borrowers are reassessing their budgets as student loan payments resume after pandemic pause

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. “If they were forgiven out of the blue, I'd …

I was surprised when some of my student loans were canceled. Yours might be, too
1 year, 4 months ago

I was surprised when some of my student loans were canceled. Yours might be, too

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. This surprising reversal happened because …

Biden’s student loan forgiveness program was rejected by the Supreme Court. Here’s what borrowers need to know
1 year, 6 months ago

Biden’s student loan forgiveness program was rejected by the Supreme Court. Here’s what borrowers need to know

CNN  

Washington CNN — The Supreme Court struck down President Joe Biden’s student loan forgiveness program Friday, blocking millions of borrowers from receiving up to $20,000 in federal student debt relief, just months before student loan payments are set to restart after a yearslong pause. Ways borrowers can still seek debt relief The Biden administration has made it easier for many …

More relief for student borrowers could come under new rules
2 years ago

More relief for student borrowers could come under new rules

LA Times  

Education Secretary Miguel Cardona, shown testifying on Capitol Hill in September 2021, unveiled more details Tuesday on a plan to lower monthly student loan payments for many borrowers. The U.S. Department of Education laid out a proposed rule Tuesday to simplify and expand eligibility for its income-driven repayment programs, which tie monthly payments on federal student loans to the borrower’s …

EXPLAINER: Where does student loan forgiveness stand?
2 years, 2 months ago

EXPLAINER: Where does student loan forgiveness stand?

Associated Press  

A federal appeals court in St. Louis has created another roadblock for President Joe Biden’s plan to provide millions of borrowers with up to $20,000 apiece in federal student-loan forgiveness. Nebraska Attorney General Doug Peterson, a Republican, said in a statement that the ruling “recognizes that this attempt to forgive over $400 billion in student loans threatens serious harm to …

Applications for student loan forgiveness no longer accepted
2 years, 2 months ago

Applications for student loan forgiveness no longer accepted

Associated Press  

WASHINGTON — The Biden administration is no longer accepting applications for student loan forgiveness after a second federal court shut down the program. “Courts have issued orders blocking our student debt relief program,” the Education Department said on its federal student aid website. We are seeking to overturn those orders.” Fulfilling a campaign pledge, President Joe Biden announced in August …

EXPLAINER: Where does the student loan debt plan stand?
2 years, 2 months ago

EXPLAINER: Where does the student loan debt plan stand?

Associated Press  

President Joe Biden’s plan to provide millions of borrowers with up to $20,000 apiece in federal student-loan forgiveness has been blocked by a second federal court, leaving millions of borrowers to wonder if they’ll get debt relief at all. Here’s where things stand: HOW THE FORGIVENESS PLAN WORKS The debt forgiveness plan announced in August would cancel $10,000 in student …

Student loan forgiveness application website goes live
2 years, 2 months ago

Student loan forgiveness application website goes live

Associated Press  

WASHINGTON — President Joe Biden on Monday officially kicked off the application process for his student debt cancellation program and announced that 8 million borrowers had already applied for loan relief during the federal government’s soft launch period over the weekend. “It means more than 8 million Americans are — starting this week — on their way to receiving life-changing …

Student loan forgiveness applications now open online. Here are the details
2 years, 3 months ago

Student loan forgiveness applications now open online. Here are the details

LA Times  

The U.S. Department of Education on Friday started accepting applications from federal student loan borrowers for up to $20,000 in debt forgiveness. The U.S. Department of Education officially opened the window Monday to applications for student loan debt relief, following a weekend test of the online application form. The weekend beta test was aimed at avoiding the problems the department …

Biden’s student-loan forgiveness test: Processing millions of applications
2 years, 3 months ago

Biden’s student-loan forgiveness test: Processing millions of applications

Live Mint  

WASHINGTON : The Biden administration is gearing up for a major test of the federal government’s bureaucracy: tens of millions of applications for student debt relief. Previous student loan programs have been marked by delays and confusion, such as a loan-forgiveness program for people with public-service jobs that the Biden administration overhauled last year, after the Education Department revealed that …

Biden administration scales back eligibility for student loan forgiveness. Here’s who’s affected
2 years, 3 months ago

Biden administration scales back eligibility for student loan forgiveness. Here’s who’s affected

LA Times  

The Biden administration reined in its pledge to forgive up to $20,000 in federal student loans Thursday, narrowing the types of loans eligible for relief. Initially, the administration said that qualified borrowers with these privately held loans could consolidate them into a federal direct loan and obtain debt relief. The Education Department “is assessing whether there are alternative pathways to …

How public service workers can get student loan forgiveness
2 years, 4 months ago

How public service workers can get student loan forgiveness

LA Times  

Student loan forgiveness is available to those who work 10 years in public service jobs. The basics of the program called Public Service Loan Forgiveness, or PSLF, seem clear: Government and nonprofit workers who make monthly payments on their federal loans for 10 years are eligible to have the rest of their debt wiped clean. More than 600,000 borrowers — …

Student-loan forgiveness: Who qualifies for plan, what it means for borrowers
2 years, 4 months ago

Student-loan forgiveness: Who qualifies for plan, what it means for borrowers

Live Mint  

President Biden’s student-loan plan will reduce or wipe out the debt of millions of borrowers. Many borrowers will be eligible for total forgiveness up to $20,000 if they received Pell Grants, a form of federal financial aid awarded to students from low-income households. Borrowers with federal student-loan debt are eligible for up to $10,000 in relief if they earn less …

Student-loan forgiveness: who qualifies for Biden’s plan, and what it holds
2 years, 4 months ago

Student-loan forgiveness: who qualifies for Biden’s plan, and what it holds

Live Mint  

President Biden’s student-loan plan will reduce or wipe out the debt of millions of borrowers. Many borrowers will be eligible for total forgiveness up to $20,000 if they received Pell Grants, a form of federal financial aid awarded to students from low-income households. Borrowers with federal student-loan debt are eligible for up to $10,000 in relief if they earn less …

Does your student loan qualify for forgiveness? The short and long answers
2 years, 4 months ago

Does your student loan qualify for forgiveness? The short and long answers

LA Times  

The Biden administration announced a plan in August 2022 to forgive up to $20,000 in federal student loan debt for borrowers. Under the administration’s plan, anyone earning less than $125,000 will qualify for up to $10,000 in federal student loan forgiveness. To find out whether your FFEL or Perkins loans could qualify, go to your account at the Federal Student …

Student loan forgiveness: Everything you need to know
2 years, 4 months ago

Student loan forgiveness: Everything you need to know

LA Times  

President Biden announced Wednesday that he is canceling $10,000 in student debt for individuals earning less than $125,000 annually. According to the Biden administration, “nearly 8 million borrowers may be eligible to receive relief automatically because relevant income data is already available to the U.S. Department of Education.” If you believe you are qualified for loan forgiveness but aren’t sure …

What to know about public service loan forgiveness
2 years, 6 months ago

What to know about public service loan forgiveness

Associated Press  

NEW YORK — More than 145,000 U.S. borrowers have had the remainder of their student loan debt canceled through the Public Service Loan Forgiveness program, and officials say many more likely qualify. The Public Service Loan Forgiveness program, launched in 2007 to steer more graduates to public service, cancels the remainder of a borrower’s federal student loan debt after they …

More flexibility proposed for student debt forgiveness
2 years, 6 months ago

More flexibility proposed for student debt forgiveness

Associated Press  

New rules proposed by the Biden administration on Wednesday would make it easier for borrowers to get their federal student debt forgiven through several existing programs. It builds on the administration’s efforts to expand targeted debt cancellation for certain borrowers while President Joe Biden considers broader student debt forgiveness. “If a borrower qualifies for student loan relief, it shouldn’t take …

After years of public service, some still can't claim student loan forgiveness
2 years, 7 months ago

After years of public service, some still can't claim student loan forgiveness

NPR  

After years of public service, some still can't claim student loan forgiveness Enlarge this image Delphine Lee/NPR Delphine Lee/NPR A short-lived program in the early 2000s allowed married couples to consolidate their student loans for a lower interest rate. Teachers, firefighters and government workers are clamoring to disentangle their student loans from those of their spouse in time to erase …

Where does student loan forgiveness stand? Borrowers wait anxiously on Biden
2 years, 8 months ago

Where does student loan forgiveness stand? Borrowers wait anxiously on Biden

LA Times  

Kayla Camacho took the advice she was given in high school: Enroll in the best school possible, regardless of the cost. — Marc Goldwein, Committee for a Responsible Federal Budget Supporters of debt cancellation want the president to go higher than $10,000, to ensure the break is granted automatically without an application process, and to remove the income cap, which …

Borrowers denied student loan relief will get a second look
3 years, 3 months ago

Borrowers denied student loan relief will get a second look

Associated Press  

Thousands of public servants who were rejected from a student loan forgiveness program will get their cases reviewed by the Education Department as part of a settlement in a lawsuit brought by one of the nation’s largest teachers unions. The settlement announced Wednesday aims to resolve a 2019 suit accusing the department of mismanaging its Public Service Loan Forgiveness program …

Troubled student loan forgiveness program gets an overhaul
3 years, 3 months ago

Troubled student loan forgiveness program gets an overhaul

Associated Press  

The Biden administration is temporarily relaxing the rules for a student loan forgiveness program that has been criticized for its notoriously complex requirements — a change that could offer debt relief to thousands of teachers, social workers, military members and other public servants. The Education Department said Wednesday it will drop some of the toughest requirements around Public Service Loan …

Troubled student loan forgiveness program gets an overhaul
3 years, 3 months ago

Troubled student loan forgiveness program gets an overhaul

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 moving …

What borrowers need to know about the Public Service Loan Forgiveness overhaul
3 years, 3 months ago

What borrowers need to know about the Public Service Loan Forgiveness overhaul

NPR  

What borrowers need to know about the Public Service Loan Forgiveness overhaul Enlarge this image toggle caption Joshua Roberts/Getty Images Joshua Roberts/Getty Images Zahra Nealy was in the shower, listening to the radio, when she heard NPR reporting on Friday that the U.S. Department of Education would use its authority to help borrowers and relax the rules of the troubled …

Military members promised student debt relief in exchange for ten years of public service say promise is often broken
3 years, 3 months ago

Military members promised student debt relief in exchange for ten years of public service say promise is often broken

CBS News  

Public Service Loan Forgiveness Program not living up to its name Student debt is a crushing burden on millions of Americans. Charles Olson – a Marine; Carson Sprott – Air Force; and in the Army: Heather Tregle, Jonathan Hirsch and Brandon Jones. Jonathan Hirsch, Carson Sprott, Heather Tregle, Brandon Jones and Charles Olson Lesley Stahl: How many of you in …

NPR Exclusive: Troubled Public Service Loan Forgiveness program will get overhaul
3 years, 3 months ago

NPR Exclusive: Troubled Public Service Loan Forgiveness program will get overhaul

NPR  

NPR Exclusive: Troubled Public Service Loan Forgiveness program will get overhaul Enlarge this image LA Johnson/NPR LA Johnson/NPR A troubled student debt relief program for teachers, police officers and other public service workers will soon get the makeover that borrowers have been demanding. According to the program's Education Department website, public service includes anyone working for "a U.S. federal, state, …

Student loan relief extended to some privately held loans
3 years, 9 months ago

Student loan relief extended to some privately held loans

Associated Press  

The federal government’s pause on student loan payments is being extended to more than 1 million borrowers who have defaulted on student loans that are held by private lenders, the Education Department announced Tuesday. Education Secretary Miguel Cardona on Monday extended the payment pause and 0% interest rate to 1.1 million borrowers who had defaulted on privately held loans. Rep. …

US eases student loan relief for those with disabilities
3 years, 9 months ago

US eases student loan relief for those with disabilities

Associated Press  

The U.S. Education Department is canceling student debt for more than 40,000 Americans who were previously granted loan forgiveness because of disabilities but later had their debt reinstated after they failed to submit certain paperwork, the agency announced Monday. Education Secretary Miguel Cardona said borrowers with disabilities should not “put their health on the line” to submit earnings information. Alex …

Report: Confusing rules deny loan forgiveness to students
5 years, 4 months ago

Report: Confusing rules deny loan forgiveness to students

Associated Press  

The vast majority of applications for a student loan forgiveness program are still being rejected, even after Congress set aside $700 million to temporarily expand it, according to a federal report. Congress approved the temporary funding last year after finding that only 1% of applicants for the Public Service Loan Forgiveness met narrow eligibility rules, often because they had certain …

Congress Promised Student Borrowers A Break. Education Dept. Rejected 99% Of Them
5 years, 4 months ago

Congress Promised Student Borrowers A Break. Education Dept. Rejected 99% Of Them

NPR  

Congress Promised Student Borrowers A Break. Ninety-nine percent of loan-forgiveness requests under that new Temporary Expanded Public Service Loan Forgiveness were rejected during the program's first year, from May 2018 to May 2019. In its rush to implement this expansion of Public Service Loan Forgiveness, the Education Department decided to require borrowers who believe they qualify for TEPSLF to first …

Lawmakers debate future of loan relief for public workers
5 years, 8 months ago

Lawmakers debate future of loan relief for public workers

Associated Press  

In 2007, the U.S. government made a promise to public service workers: Make 10 years of payments on their federal student loans and any remaining debt would be erased. The Trump administration and some Republican legislators see it as a lost cause, arguing that the Public Service Loan Forgiveness program is misguided and has proved too complicated for borrowers to …

'I Am Heartbroken': Your Letters About Public Service Loan Forgiveness
6 years, 2 months ago

'I Am Heartbroken': Your Letters About Public Service Loan Forgiveness

NPR  

'I Am Heartbroken': Your Letters About Public Service Loan Forgiveness Enlarge this image LA Johnson/NPR LA Johnson/NPR "Thank YOU," writes Cara Christensen, a first-grade teacher in Washington state who read NPR's deep dive into the troubled Public Service Loan Forgiveness program. PSLF offers the promise of loan forgiveness to nurses, teachers, first-responders and other student borrowers who work in public …

Why Public Service Loan Forgiveness Is So Unforgiving
6 years, 2 months ago

Why Public Service Loan Forgiveness Is So Unforgiving

NPR  

Why Public Service Loan Forgiveness Is So Unforgiving Enlarge this image toggle caption Cameron Pollack/NPR Cameron Pollack/NPR Update: Many student borrowers have responded to this story by sharing stories of their struggles with PSLF. This is the story of Seth Frotman, the mangling of the program known as Public Service Loan Forgiveness, and what it says about America's student loan …

New Education Budget; Yale Discrimination Investigation; Faults In Loan Forgiveness
6 years, 3 months ago

New Education Budget; Yale Discrimination Investigation; Faults In Loan Forgiveness

NPR  

New Education Budget; Yale Discrimination Investigation; Faults In Loan Forgiveness Enlarge this image LA Johnson/NPR LA Johnson/NPR You're reading NPR's weekly roundup of education news. Report finds faults in student loan forgiveness program A new report from the Government Accountability Office finds that a popular student loan forgiveness program has been badly mismanaged. Education Data Shows 99% Of Applicants For …

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