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Politicseducation

All articles tagged with #politicseducation

politicseducation1 year ago

"Biden's Student Loan Plans: Impact on Taxpayers, Inflation, and Voter Preferences"

President Biden's student loan cancellation plans are estimated to cost taxpayers $559 billion, with households earning over $300,000 benefiting the most, according to a study by the University of Pennsylvania. The new plan will relieve longer-term student debt for about 750,000 households with an average income of over $312,000, drawing criticism from House Budget Committee Chairman Jodey Arrington. The Penn Wharton Budget Model does not account for the administration's additional $7.4 billion student debt cancellation announcement, and at least 10% of borrowers have been approved for some debt relief under the Biden administration's various student loan cancellation programs.

via New York Post |
#biden-administration#education-policy#household-income
politicseducation1 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.

via The Guardian|
#borrowers#debt-relief#joe-biden
politicseducation1 year ago

"Biden Unveils Ambitious Student Loan Relief Plan Amid Coalition Challenges"

President Biden is expected to announce a new student loan forgiveness program during his visit to Madison, nearly a year after his initial attempt was struck down by the U.S. Supreme Court. The new program, to be unveiled next week, will be smaller and targeted towards specific types of borrowers, relying on the Higher Education Act for legal standing. This comes as student loan relief remains a top issue for younger voters, with Wisconsin's 700,600 borrowers holding $21.4 billion in federal student loan debt.

via Milwaukee Journal Sentinel|
#biden#higher-education-act#loan-relief-programs
politicseducation1 year ago

"Biden Unveils Sweeping Student Loan Forgiveness Plan Despite Supreme Court Opposition"

The Biden administration is preparing to unveil a revised student loan forgiveness plan targeting specific groups of borrowers, following the Supreme Court's rejection of its initial $400 billion proposal. The new plan is narrower and relies on the Higher Education Act for legal justification, in contrast to the previous attempt which used the Heroes Act of 2003. By utilizing the rulemaking process, the administration hopes to navigate legal challenges and provide relief to borrowers, with the proposal expected to be made public in the coming weeks.

via CNBC|
#biden-administration#higher-education-act#politicseducation
politicseducation1 year ago

"Biden's $1.2 Billion Student Loan Forgiveness Benefits 153,000 Borrowers"

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.

via BBC.com|
#biden#debt-cancellation#education
politicseducation2 years ago

"President Ramaphosa Removes Adviser Thabi Leoka, PhD"

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.

via BBC.com|
#academic-qualifications#advisory-panel#cyril-ramaphosa
politicseducation2 years ago

"Biden Administration Sanctions Loan Servicers Amid Repayment Mishaps and Risks to Borrowers"

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.

via The Associated Press|
##bidenadministration#educationdepartment
politicseducation2 years ago

"Bill Johnson Resigns from Congress for Early Start as Youngstown State President"

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.

via Youngstown Vindicator|
##billjohnson#congress