President Joe Biden has now cancelled nearly $3 billion of student loan debt. Here’s what you need to know—and what it means for your student loans. Since become president in January, Biden has cancelled more than $2.8 billion of student loans, including another big announcement for student loan cancellation today:
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Biden's Education Secretary may have opened the door to further delay in student loan payments past October
Last month, Education Sec. Miguel Cardona said a further payment pause extension isn't "out of the question," but no further details were provided.
Biden's Latest Round of Student Loan Debt Forgiveness Is an Indictment of Federal Higher Education Subsidies
President Joe Biden announced Wednesday that the Department of Education is forgiving $500 million in Federal Direct Loan debt owed by 18,000 former students of the for-profit higher education chain ITT Technical Institute. The chain closed all 140 of its locations and fired most of its 8,000 employees in 2016, following a legal battle with various state attorneys general and the U.S. Department of Education.
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Biden's Education Department just cancelled $500 million of student debt for 18,000 defrauded borrowers
The for-profit ITT Technical Institutes shut down in 2016 amid fraud allegations. Education Sec. Miguel Cardona just gave relief to some borrowers.
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The Biden administration announced Thursday that thousands of students who were defrauded by the for-profit ITT Tech college before it was shuttered in 2017 will have their student loans forgiven in their entirety.The announcement Thursday is a reversal from a policy pursued by the Department of Education under Betsy DeVos, the secretary installed by former President Donald Trump, who decided that students defrauded by for-profit colleges would only see loans partially forgiven.CNN reported the announcement on Thursday morning. The Independent has reached out to the department for more information.The decision will affect roughly 18,000 former students of the Indiana-based corporation,...
The odds of student loan forgiveness happening have never been greater, experts say. Yet a number of large obstacles stand in the way, some practical and others ideological. Does the president have the authority to cancel the debt? Officials at the U.S. Department of Education and the U.S. Department of Justice are currently trying to find answers to that question.
There’s still some hope that President Joe Biden enacts student loan cancellation. Here’s what you need to know. Student loan cancellation wasn’t included in Biden’s $6 trillion budget and it was also dropped from Biden’s infrastructure plan. However, despite the latest developments on student loan forgiveness, it’s still possible that Biden cancels student loans. Here are 4 ways you could still get student loan forgiveness:
Student Loans May Cause $68 Billion Loss For Taxpayers, And It’s Bad News For Student Loan Cancellation
Taxpayers may lose $68 billion on federal student loans. Here’s what you need to know — and what it means for student loan cancellation. As first reported by the Wall Street Journal, the Biden administration released new data on the expected losses from the federal government’s student loan portfolio. Here are the details:
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The to-do list for Biden's administration includes climate and equity measures as well as student-loan forgiveness, but details aren't there yet.
If you have any of these student loans, they might not get cancelled. Here’s what you need to know. As Congress and President Joe Biden consider wide-scale student loan forgiveness, you may not be eligible for student loan cancellation if the following describes you. While there is no guarantee, this is the latest on student loan forgiveness based on the latest proposals:
Biden continues to question why those who attended Ivy League colleges should get their loans forgiven. Yet the share of borrowers from such schools is just 0.03%. Far more student loan borrowers attended public or for-profit colleges. President Joe Biden has a problem with broad student loan forgiveness. In a...
Student debt forgiveness isn't in Biden's annual budget—here's why experts say that's 'not surprising'
On the campaign trail, President Joe Biden issued his support for $10,000 of undergraduate or graduate student debt relief for every year of national or community service, up to five years and $50,000. Since then, House and Senate Democrats repeatedly urged Biden to "broadly" forgive up to $50,000 of federal debt through executive order during his first 100 days in office.
A growing number of colleges and universities have announced in recent weeks that they would be cancelling student debt for their graduates using funds from President Biden’s recent stimulus bill. Elizabeth City State University in North Carolina announced last week that it would be wiping out $286,500 in student debts...