All articles tagged with #student loan forgiveness
Originally Published 2 months ago — by Axios
Nearly two dozen attorneys general sued the Education Department over a new rule that limits eligibility for the Public Service Loan Forgiveness Program by deeming certain activities 'substantially illegal,' arguing it violates the law and politicizes student loan forgiveness, while the Department defends it as a measure against organizations involved in illegal activities.
Originally Published 5 months ago — by The Intercept
The Trump administration is offering student loan forgiveness and signing bonuses exclusively to new ICE agents, while proposing to limit or alter the Public Service Loan Forgiveness program for other public interest workers, raising concerns about political bias and the weaponization of financial aid systems.
Originally Published 5 months ago — by Forbes
The Department of Education has paused student loan forgiveness under the Income-Based Repayment (IBR) plan due to system updates related to court injunctions affecting other income-driven plans. Despite IBR being legally separate and not currently challenged in court, the department is not processing forgiveness, causing concern among borrowers eligible for discharge. The suspension is linked to broader disruptions in federal student loan programs, with upcoming legislative changes expected to alter repayment options and forgiveness policies.
Originally Published 1 year ago — by ABC News
As President-elect Donald Trump prepares to take office, the Biden administration is rushing to solidify its legacy by disbursing billions in grants, confirming federal judges, and finalizing regulations. Key actions include funding infrastructure and climate projects, confirming judicial nominees, and advancing student loan forgiveness rules. The administration aims to ensure these initiatives endure beyond Biden's term, despite Trump's plans to reverse some policies. The urgency reflects a desire to complete Biden's agenda before the transition of power.
Originally Published 1 year ago — by Fox News
Democratic strategist James Carville criticized the Democratic Party's messaging on issues like Gaza and student loan forgiveness, arguing it alienates key voting blocs such as young people and Black voters. He suggested taxing university endowments over $5 billion to fund student loan forgiveness and emphasized the need for President Biden to address economic issues and his age in order to improve his re-election chances.
Originally Published 1 year ago — by The National Desk
The National Desk is conducting a poll to gauge public opinion on whether President Biden's student loan forgiveness plan is fair to American taxpayers.
Originally Published 1 year ago — by CNBC
President Biden's new student loan forgiveness plan targets specific groups of borrowers, aiming to withstand legal challenges by focusing on narrower criteria. The plan would forgive the debt of eligible borrowers who have been in repayment for 20 years or longer, attended questionable value schools, or are experiencing financial hardship. Critics argue that the new plan resembles Biden's previous effort and anticipate legal challenges similar to those faced before.
Originally Published 1 year ago — by WEAR
President Biden has announced a new plan for student loan forgiveness, which has sparked both support and opposition. UWF Professor Dr. Kevin Krieger believes the proposal could be beneficial for low-income individuals and those struggling with long-standing student loan debt, but others, including Florida Attorney General Ashley Moody and five other state attorneys general, have filed a lawsuit against the administration, arguing that the taxpayer will ultimately bear the burden of the debt. The proposal aims to automatically cancel debt for eligible borrowers and those facing financial hardship, but faces political and constitutional challenges.
Originally Published 1 year ago — by Fox Business
Missouri and six other states have filed a lawsuit to block President Biden's student loan forgiveness plan, arguing that it is illegal and would cost taxpayers $475 billion. This comes after Kansas and 10 other states sued the administration over the same plan. The lawsuit contends that Biden's plan is unconstitutional and part of a pattern of imposing costly policy changes without consent. The Biden administration has defended the plan, which aims to cut accrued interest for borrowers, stating that the Department of Education has the authority to define income-driven repayment plans.
Originally Published 1 year ago — by Vox.com
The Biden administration has unveiled a new student loan forgiveness plan, targeting specific groups of borrowers and focusing on erasing accrued interest. The plan aims to provide relief for over 30 million Americans, with more than 4 million having their entire debt canceled and 10 million seeing at least $5,000 of relief. The plan is expected to face opposition from Republicans and conservative critics, and implementation is likely a few months away pending a public comment period. The plan's focus on accrued interest sets it apart, and Biden and his administration are promoting it in key cities, including swing states.
Originally Published 1 year ago — by The Washington Post
President Biden has unveiled a new student loan forgiveness plan that aims to reduce or eliminate federal student loan balances for millions of borrowers. The plan includes measures to eliminate accrued interest, automatically cancel loans for eligible borrowers, and provide relief for those facing hardships. The majority of Americans with federally held student loans will qualify for some level of relief under the new plan, which differs from the previous plan rejected by the Supreme Court. This time, the Biden administration is anchoring the plan with authority in the 1965 Higher Education Act, aiming to address specific circumstances within the scope of the law.
Originally Published 1 year ago — by CNBC
President Biden is set to unveil a new student loan forgiveness plan that aims to erase up to $20,000 in interest for millions of borrowers. The plan targets specific groups facing financial hardship and intends to "cancel runaway interest," potentially benefiting up to 25 million Americans. The proposed plan also includes forgiving the debt of certain eligible borrowers and aims to address the burden of student loan debt on low- and middle-income individuals. Biden hopes to initiate the forgiveness process before the November election through the rulemaking process.
Originally Published 1 year ago — by CNN
The Biden administration has revealed a new plan to forgive student loan debt, potentially benefiting over 30 million Americans, with nearly 70% of federal student loan borrowers seeing their debt reduced or canceled. The proposals, targeting specific groups of borrowers, are still in the process of being finalized and may face legal challenges. If implemented, the Department of Education could start canceling accrued interest for qualifying borrowers as early as this fall. Despite a previous plan being struck down by the Supreme Court, the Biden administration has already canceled more student loan debt than any other president, primarily through existing programs, benefiting 4 million people with a total of $146 billion in debt relief.
Originally Published 1 year ago — by ABC News
President Joe Biden is expected to discuss a new student loan forgiveness plan during his trip to Wisconsin on Monday, with sources indicating a more targeted approach that requires borrowers to meet specific criteria for relief. The White House has not confirmed details, but the proposed plan aims to address financial hardship and debt exceeding the original amount borrowed due to interest. This comes after the Supreme Court struck down a previous loan forgiveness plan in 2023, ruling that the Department of Education had exceeded its authority. Biden, who has made tackling student loan debt a priority, is set to address this issue in a crucial battleground state.
Originally Published 1 year ago — by Milwaukee Journal Sentinel
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.