35,000 more public servants see their student loan balances reduced or erased
Thousands more public servants will soon see their student loan balances reduced or erased, the Biden administration announced on Thursday. The relief is part of the administration’s efforts to overhaul the nation’s Public Service Loan Forgiveness program (PSLF).
“This is relief that will bring real change in [borrowers’] lives, and marks another win for this Administration’s relentless and unapologetic work to fix a broken student loan system,” said U.S. Education Secretary Miguel Cardona in a statement.
Nearly half of Gen Zers get help from the bank of mom and dad, report finds
To keep up with the high cost of living, many young adults turn to a likely safety net: their parents.
Nearly half (46%) of Gen Zers between the ages of 18 and 27 rely on financial assistance from their family, according to a new report from Bank of America.
Is college worth it? Poll finds only 36% of Americans have confidence in higher education
Americans are increasingly skeptical about the value and cost of college, with most saying they feel the U.S. higher education system is headed in the “wrong direction,” according to a new poll.
Overall, only 36% of adults say they have a “great deal” or “quite a lot” of confidence in higher education, according to the report released Monday by Gallup and the Lumina Foundation. That confidence level has declined steadily from 57% in 2015.
Americans are split on Biden’s student loan work, even those with debt, an AP-NORC poll finds
WASHINGTON (AP) — As he campaigns for reelection, President Joe Biden frequently touts his work on student debt, pointing to the millions of people who received cancellation under his watch. Yet relatively few Americans say they’re fans of his work on the issue, even among those who have student loans.
Student Loan Forgiveness Deadline Extended. You Have Until June 30 to Maximize Your Debt Relief
On May 15, the Department of Education extended the deadline to consolidate federal student loans to maximize your debt relief. If you’re eligible for student loan forgiveness under the White House’s new latest plan or an existing program, consolidating your federal loans could help you receive forgiveness sooner. You now have until June 30 to consolidate your loans into one new federal loan. Consolidating can help convert FFELP, Perkins and other non-Direct Loans into Direct Loans, which offer more debt relief benefits. And it can also streamline multiple loans with...
Biden administration extends deadline to consolidate old student loans
More than 3.5 million student loan borrowers who received funding under a defunct private program will have more time to consolidate their loans if they want to qualify for a one-time initiative that could wipe out their debt, the Education Department said Wednesday.
Borrowers with federal loans that originated through the Federal Family Education Loan Program (FFEL) will have until June 30 to consolidate, 60 days more than originally planned, the Education Department said.
5 things to know about Biden’s new student loan plan
President Biden announced a student loan plan Monday that would help millions of Americans have their debt forgiven in his latest attempt to provide relief to borrowers.
Biden announced a plan focused in large part on borrowers with so-called “runaway interest” who owe more money than they did at the start of repayment.
Biden will announce new student loan forgiveness plan impacting tens of millions of Americans
President Joe Biden will announce on Monday a new, sweeping student loan forgiveness plan, which could benefit tens of millions of Americans.
Biden will share the details of the aid package at an event in Madison, Wisconsin.
The news comes less than a year after the Supreme Court rejected his first attempt to cancel up to $20,000 in student debt per borrower. The conservative justices ruled that that effort was unconstitutional in June.
Student Loan Cancellation Update as Biden Approves $1.2 Billion Relief
President Joe Biden announced on Wednesday that his administration is canceling $1.2 billion dollars in student debt for some 153,000 borrowers enrolled in a new repayment plan.
The Biden administration had initially planned to start forgiveness under the Saving on a Valuable Education (SAVE) plan in July, but it is now taking effect almost six months ahead of schedule.
Biden administration is forgiving $1.2 billion in student debt for 153,000 borrowers. Here's who qualifies.
The Biden administration on Wednesday said it is automatically forgiving $1.2 billion in student debt for 153,000 borrowers. Loan holders whose debt will be discharged will receive an email from President Joe Biden today informing them of the forgiveness, the Department of Education said.