Student loan crisis awaits new generation despite Biden plan
2 years, 3 months ago

Student loan crisis awaits new generation despite Biden plan

Associated Press  

WASHINGTON — For millions of Americans, President Joe Biden’s student loan cancellation offers a life-changing chance to escape the burden of debt. She wishes Biden’s debt plan, or something like it, would be available to her and her peers, saying it would be “an incentive to have more people go to college.” In Olathe, Kansas, high-school senior Natalie Ren said it’s frustrating that today’s college students will get relief but her class, less than a year away from college, won’t. “So to me, it’s just like, Well, why are they getting the $10,000 taken off of their student loan debt?” said Ren, 17. “This doesn’t fundamentally solve the student debt problem,” said Marc Goldwein, the budget group’s senior policy director. “To avoid forcing current and future students into the same debt morass, we must act in a comprehensive manner to modernize the federal student loan program,” said Ted Mitchell, the group’s president.

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History of this topic

House approves funding bill, sends to Senate hours before government shutdown deadline
3 days, 2 hours ago

House approves funding bill, sends to Senate hours before government shutdown deadline

New Indian Express  

The new 118-page package would fund the government at current levels through March and adds $100 billion in disaster aid and $10 billion in agricultural assistance to farmers. The federal debt limit expires Jan. 1, and Trump doesn't want the first months of his new administration saddled with tough negotiations in Congress to lift the nation's borrowing capacity. “Congress must …

Biden cancels $4.28 bn more in student debt before leaving office
3 days, 10 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 …

$180 billion and counting: Joe Biden announces fresh cancellation of US student loans during final month in office
3 days, 10 hours ago

$180 billion and counting: Joe Biden announces fresh cancellation of US student loans during final month in office

Live Mint  

US 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. The mass cancellation of debt is for "teachers, nurses, service members, law enforcement officials, and other public service workers who have dedicated their lives to giving back to …

White House starts scrapping pending rules, including student debt cancellation
3 days, 16 hours ago

White House starts scrapping pending rules, including student debt cancellation

Associated Press  

WASHINGTON — President Joe Biden is abandoning his efforts to provide some protections for transgender student athletes and cancel student loans for more than 38 million Americans, the first steps in an administration-wide plan to jettison pending regulations to prevent President-elect Donald Trump from retooling them to achieve his own aims. “This isn’t the way I wanted it to end,” …

Biden cancels another $4.2bn in US student loans before leaving office
4 days, 2 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
4 days, 2 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 …

Biden scraps plans to cancel widespread student loan debt
4 days, 2 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
3 weeks 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, 1 day 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’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 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 …

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 …

Australia to Cut 20% Student Loans to Ease Cost of Living, Boost Investment
1 month, 3 weeks ago

Australia to Cut 20% Student Loans to Ease Cost of Living, Boost Investment

India Today  

Australian Prime Minister Anthony Albanese has announced a plan to cut 20% of student loans for around three million Australians, wiping around A$16 billion in debts. This move is part of the government's efforts to ease the cost of living, which has been a major concern ahead of the upcoming federal election. The average graduate with a loan of A$27,600 …

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
2 months 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 …

My Family And I Were Trapped In A Financial Prison. Then I Received A 6-Word Letter That Changed My Life.
2 months, 3 weeks ago

My Family And I Were Trapped In A Financial Prison. Then I Received A 6-Word Letter That Changed My Life.

Huff Post  

Three generations of women: the author in the middle, her mother on the left and her oldest daughter on the right. Your student loans have been forgiven.” Thanks to the Biden-Harris administration’s student loan forgiveness program, my monumental debt was erased. Biden’s student loan forgiveness didn’t just erase a number from my balance sheet — it gave me back my …

'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 …

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 — …

Missouri, Kansas judges temporarily halt much of President Biden’s student debt forgiveness plan
54 years, 11 months ago

Missouri, Kansas judges temporarily halt much of President Biden’s student debt forgiveness plan

Associated Press  

TOPEKA, Kan. — Federal judges in Kansas and Missouri on Monday together blocked much of a Biden administration student loan repayment plan that provides a faster path to cancellation and lower monthly payments for millions of borrowers. The judges’ rulings prevent the U.S. Department of Education from helping many of the intended borrowers ease their loan repayment burdens going forward …

Federal judges temporarily halt much of President Biden’s student debt forgiveness plan
5 months, 4 weeks ago

Federal judges temporarily halt much of President Biden’s student debt forgiveness plan

LA Times  

Gen. Andrew Bailey filed a lawsuit on behalf of his state and six others. Federal judges in Kansas and Missouri on Monday together blocked much of a Biden administration student loan repayment plan that provides a faster path to cancellation and lower monthly payments for millions of borrowers. “Today’s ruling was a huge win for the rule of law, and …

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 …

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, 3 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 …

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, 2 weeks 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 …

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