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Relief Proposal

All articles tagged with #relief proposal

education-student-loans1 year ago•5 min saved

"Biden Administration Expands Student Loan Forgiveness for Borrowers in Hardship"

The Biden administration is proposing to expand student loan forgiveness to include relief for borrowers facing financial hardship, those with large sums of interest, older loans, and those who attended low-value for-profit college programs. The relief proposal aims to automatically erase loans for eligible borrowers and reset accrued interest for those earning up to $125,000 or $250,000 as a couple. The plan is going through a rulemaking process and faces potential legal challenges from conservatives.

via The Associated Press|

#biden-administration #education-department #education-student-loans

education-politics1 year ago•2 min saved

"Biden Administration Expands Student Loan Forgiveness Eligibility"

The Biden administration has revealed its proposal for who may qualify for its student loan forgiveness plan, focusing on struggling borrowers with balances greater than what they originally borrowed, students from schools of questionable quality, and those experiencing financial hardship. The U.S. Department of Education outlined factors such as unreasonable loan balances relative to household income, high child-care and health-care expenses, and other debt obligations, disability, or age as potential identifiers of financial hardship. Lawmakers have pressured the administration to consider relief for financially strapped borrowers, leading to an additional rulemaking session to focus exclusively on this category, which could potentially cover millions of Americans.

via CNBC|

#biden-administration #department-of-education #education-politics