Trump Administration To Restart Collections on Defaulted Student Loans
On April 21, the Department of Education announced that it would resume collections on defaulted federal student loans, making a clear break from student loan policy under President Joe Biden, who consistently worked to forgive or pause federal student loan payments even as he faced legal defeat.
5 million student loan borrowers face mandatory collections starting May 5
Some 5 million Americans with defaulted student loan payments will have their loans sent for collections on May 5, the Department of Education announced on Monday.
Next month, for the first time since student loan payments were paused due to the onset of the COVID-19 pandemic, the Education Department will collect the debts from borrowers who had defaulted -- which means they hadn’t paid their debts for around nine months or 270 days -- before the pandemic.
Don’t trust videos saying you can erase your student loans by filing a student privacy law complaint
After the Department of Government Efficiency gained access to student loan databases, some social media posts promoted a federal privacy law as the key to debtholders’ financial freedom.
All you have to do, the posts said, is file a complaint with the Education Department requesting your loans be forgiven on the grounds that DOGE violated the Family Educational Rights and Privacy Act of 1974 by gaining access to personal loan information.
Biden's final student-loan forgiveness action has arrived
Student-loan forgiveness under President Joe Biden has officially reached the end of the road.
On Thursday, Biden's Education Department announced over $600 million in debt cancellation for 4,550 borrowers on income-based repayment plans and 4,100 borrowers who the department found were defrauded by DeVry University.
This latest announcement marks the final student-loan forgiveness action under the Biden administration.
In farewell action, Biden cancels $4.28B additional student loan debt
President Biden announced Friday that he is canceling $4.28 billion in student loans for nearly 55,000 public service workers as he prepares to exit the White House.
The latest round of debt forgiveness brings the total amount of canceled loans by Mr. Biden to $180 billion for nearly 5 million Americans, according to the Department of Education.
Biden forgives $4.28 billion in student debt for 54,900 borrowers
The Biden administration announced on Friday that it would forgive another $4.28 billion in student loan debt for 54,900 borrowers who work in public service.
The relief is a result of fixes the U.S. Department of Education made to the once-troubled Public Service Loan Forgiveness Program.
The debt relief comes in President Joe Biden’s final weeks in office.
Biden has forgiven more student debt than any other president. He has cleared nearly $180 billion for 4.9 million people with student debt.
Biden-Harris Administration Seek to Expand Relief for Student Loan Borrowers
The Biden-Harris administration has announced new proposed regulations to expand student debt relief, potentially impacting around 8 million borrowers facing financial hardship. The proposal, introduced by the U.S. Department of Education, would allow the Secretary of Education to forgive loans in cases where borrowers are unlikely to repay due to severe hardship or where continued collection costs are deemed unjustified.
Biden announces $4.7 billion in new student loan forgiveness ahead of election
The Biden administration is plugging its student loan plans one more time ahead of Election Day, announcing another $4.7 billion of loans that will not have to be repaid by roughly 60,000 people. “For too long, the government failed to live up to its commitments, and only 7,000 people had ever received forgiveness under Public Service Loan Forgiveness before Vice President Kamala Harris and I took office,” President Joe Biden said in a prepared statement. “Now over 1 million public service workers have gotten the relief they are entitled to...
Biden’s student loan cancellation is put on hold again after day of legal whiplash
A federal judge in Missouri put a temporary hold on President Joe Biden’s latest student loan cancellation plan on Thursday, slamming the door on hope it would move forward after another judge allowed a pause to expire.
Just as it briefly appeared the Biden administration would have a window to push its plan forward, U.S. District Judge Matthew Schelp in Missouri granted an injunction blocking any widespread cancellation.
Biden administration can move forward with student loan forgiveness, federal judge rules
A federal judge will let expire a temporary restraining order against the Biden administration’s sweeping new student loan forgiveness plan, which could deliver relief to tens of millions of Americans.
The plan could benefit as many as three in every four federal student loan holders, when combined with the administration’s previous efforts, according to an estimate by the Center for American Progress.