Articles for Student Debt

Trump is already walking back on his promises
1 day, 2 hours ago

Trump is already walking back on his promises

Raw Story  

— Republicans in Congress kick the can down the road to March. But those corrupt Republicans who love the morbidly rich and hate average Americans haven’t given up hope; here’s the operant sentence from the article in today’s Washington Post about the vote: “ proposed a handshake deal with fiscal hawks in his own party to try next year to …

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Biden cancels $4.28 bn more in student debt before leaving office
2 days, 23 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 …

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White House starts scrapping pending rules, including student debt cancellation
3 days, 4 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,” …

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Three-quarters of university graduates have student debts
1 week, 3 days ago

Three-quarters of university graduates have student debts

NL Times  

Almost three-quarters of all people who have completed a university-level education within four years have student debts. Just over half of the students who followed an HBO bachelor's degree have student debt, and only one in five secondary vocational students are in debt. They have to pay an average of 12,500 euros, former HBO students still have to pay 6,300 …

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Labor's plan to wipe millions in student debt
1 month, 2 weeks ago

Labor's plan to wipe millions in student debt

ABC  

Sally Sara: Hello and welcome to The World Today. Sally Sara: The federal government is planning to slash the HECS debts of millions of Australian students as it seeks to reset ahead of next year's federal election. Sally Sara: That's third year art student Cooper Cross ending that report from David Estcourt. Sally Sara: That's Innes Willox from the Australian …

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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 …

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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 …

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Huge change coming to Aussies with HECS debts with $16billion set to be cut from student loans
1 month, 3 weeks ago

Huge change coming to Aussies with HECS debts with $16billion set to be cut from student loans

Daily Mail  

Aussies will have 20 per cent of their student debt wiped under a major new plan set to be announced by the Albanese Government. Aussies will have 20 per cent of their student debt wiped under a major new plan set to be announced by the Albanese Government 'Our whole nation benefits when we make it easier for people to …

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The HECS threshold is being increased and debts are being lowered but repayment times will take longer for some under a new proposal
1 month, 3 weeks ago

The HECS threshold is being increased and debts are being lowered but repayment times will take longer for some under a new proposal

ABC  

Over the weekend the federal government has announced plans to change student loan repayment rules, spruiking cost of living savings. If the changes pass parliament, people paying their university fees via the government's Higher Education Loan Program won't have to pay as much each year and the overall debt levels will be lowered. Prime Minister Anthony Albanese said they would …

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In France a degree costs less than £200 – the last thing the UK government should do is put up students’ tuition fees
2 months, 3 weeks ago

In France a degree costs less than £200 – the last thing the UK government should do is put up students’ tuition fees

The Independent  

Cars loaded with clothes, mattress toppers, table lamps, posters, pots, pans and other paraphernalia of student life have been a familiar sight recently as the the latest year group of freshers have been heading for campuses across Britain. The higher education sector is at immediate risk of collapsing under debts created by a decade of frozen UK students’ tuition fees …

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'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 …

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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 …

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SBS Insight: Young Aussie Jessica Herbert reveals the one mistake she made before going to uni that has lumped her with massive debt
4 months, 3 weeks ago

SBS Insight: Young Aussie Jessica Herbert reveals the one mistake she made before going to uni that has lumped her with massive debt

Daily Mail  

A regretful young Aussie said she should have thought more beforehand about how much it was going to cost her to go to university after racking up $83,000 in student debt. Jessica Herbert, who works in disability and community service, said she would have pursued a career in nursing or teaching to reduce her massive HECS debt The figure is …

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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. …

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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 …

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BUDGET 2024: A $300 boost for every Aussie, student debt wiped, tax cuts for millions and major change for overseas travellers: Albanese government hands down latest Budget
7 months, 1 week ago

BUDGET 2024: A $300 boost for every Aussie, student debt wiped, tax cuts for millions and major change for overseas travellers: Albanese government hands down latest Budget

Daily Mail  

Labor has announced major cost of living support for struggling Aussies in a pre-election pitch to Aussies as it tries to win over voters. Treasurer Jim Chalmers handed down the Budget on Tuesday night, boasting of a $9.3 billion surplus driven by a strong labour market and increased commodity prices. Treasurer Jim Chalmers handed down the Budget on Tuesday night, …

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HECS indexation to be overhauled in budget with $3 billion in student debt 'wiped out'
7 months, 2 weeks ago

HECS indexation to be overhauled in budget with $3 billion in student debt 'wiped out'

ABC  

In short : Student debts will be lowered for more than three million Australians under reforms designed to stop HECS loans growing faster than wages. Loan indexation will now match whichever is lower out of the Consumer Price Index or the Wage Price Index — which the government says will prevent another shock increase like last year's 7.1 per cent …

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$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 …

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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 …

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HECS loans have ballooned in the past decade, leaving many workers caught in a 'student debt spiral'
8 months ago

HECS loans have ballooned in the past decade, leaving many workers caught in a 'student debt spiral'

ABC  

Amy Jolliffe's desperation at her ballooning HECS-HELP debt of $64,000, more than twice the average of $26,494, is emblematic of the growing helplessness felt by many graduates years after they've left university. Many now feel they're in a "student debt spiral" and it shows why calls for change have grown so loud that the prime minister all but confirmed there …

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Biden is cancelling millions of student debts. Here's what to expect from Albanese
8 months ago

Biden is cancelling millions of student debts. Here's what to expect from Albanese

ABC  

So weighed down have Americans become by student debt, and so potent a political issue has it become in the US, that President Joe Biden plans to waive interest or write off money owing by 30 million of them. It's worse in the US While in both Australia and the US it's the government that lends to pay student fees …

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Column: Are Republicans who got pandemic debt relief hypocrites for complaining about student debt relief? Yes
8 months, 1 week ago

Column: Are Republicans who got pandemic debt relief hypocrites for complaining about student debt relief? Yes

LA Times  

You may have noticed over the last few days that the political world is in an uproar over President Biden’s dispensing of student debt relief. The White House then issued a series of tweets targeting GOP critics of student debt relief whose PPP loans had been forgiven. The White House issued this roster of GOP politicians who criticized Biden’s student …

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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, …

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Wisconsin's 'Mad City' is a rational choice for Biden's appeal to youth
8 months, 1 week ago

Wisconsin's 'Mad City' is a rational choice for Biden's appeal to youth

NPR  

Wisconsin's 'Mad City' is a rational choice for Biden's appeal to youth toggle caption Andrew Caballero-Reynolds/AFP via Getty Images This week President Biden took his campaign to save his embattled presidency to Madison, Wisc., the capital of a state he is counting on winning in November. Given the recent voting proclivities of younger voters and especially those who are current …

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