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"Biden's Student Loan Plans: Impact on Taxpayers, Inflation, and Voter Preferences"
1 year ago•Source: New York Post
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1.68 min•1 year ago
"Biden Administration Announces $7.4 Billion Student Debt Cancellation, Faces Legal Threat"
The Biden administration will cancel $7.4bn in student debt for 277,000 borrowers, part of a broader plan to ease student debt for at least 23 million Americans. This latest round of debt relief affects borrowers enrolled in various repayment plans and follows a previous announcement of $6bn in student loan cancellations. The move addresses a key issue for young voters and comes after Biden's broader plan to cancel $430bn in student loan debt was blocked by the US supreme court. The issue of student loan forgiveness remains contentious, with Republicans criticizing it as an overreach of authority and unfair to non-college-educated borrowers.
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"Biden's $1.2 Billion Student Loan Forgiveness Benefits 153,000 Borrowers"
Originally Published 1 year ago — by BBC.com
The Biden administration has announced the cancellation of $1.2bn in student debt for 153,000 American borrowers enrolled in the Save repayment plan, who have been making payments for at least 10 years and originally borrowed $12,000 or less for school. This move aims to particularly help community college and other borrowers with smaller loans. Additionally, the Department of Education will begin contacting eligible individuals not enrolled in the Save plan. President Biden has also shortened the forgiveness timeline for those with smaller balances, putting them on a 10-year track. This comes after the Supreme Court had previously blocked his plan to cancel student debt for over 40 million Americans.
"President Ramaphosa Removes Adviser Thabi Leoka, PhD"
Originally Published 1 year ago — by BBC.com
South African President Ramaphosa removed economist Thabi Leoka from an advisory panel amid questions about her PhD from the London School of Economics, which journalists have been unable to verify. Leoka denied misrepresenting her qualifications and resigned from the boards of two companies due to health and academic qualification questions. The Presidential Economic Advisory Council terminated her membership, although formal vetting is not required. Leoka, a prominent commentator and economist, cited health issues and name changes as reasons for the discrepancies.
"Biden Administration Sanctions Loan Servicers Amid Repayment Mishaps and Risks to Borrowers"
Originally Published 2 years ago — by The Associated Press
The Biden administration is penalizing student loan servicers Aidvantage, EdFinancial, and Nelnet by withholding over $2 million in payments due to their failure to send timely billing statements to borrowers after the end of the pandemic payment freeze. This action follows a previous $7.2 million withholding from MOHELA for similar issues. The servicers' errors affected over 750,000 borrowers, who will now be placed in administrative forbearance to resolve the issues without penalties. The Education Department is also working on a new student loan cancellation proposal after the Supreme Court rejected the initial plan.
"Bill Johnson Resigns from Congress for Early Start as Youngstown State President"
Originally Published 2 years ago — by Youngstown Vindicator
U.S. Representative Bill Johnson has announced his resignation from Congress effective January 21 to assume the role of president at Youngstown State University starting January 22. His early start at YSU has been welcomed by the Board of Trustees, despite facing criticism and "no-confidence" resolutions from the university's Academic Senate and community members over the confidential hiring process and his political background with limited experience in higher education.