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#Student loans

NPR

Education Department Announces 'Final Extension' Of Student Loan Payment Freeze

On Friday, the U.S. Department of Education announced that federal student loan payments will remain on pause through the end of January. Loan payments, interest accruals and collections of defaulted federal student loans have all been on hold since the start of the pandemic — first thanks to the CARES Act, then due to extensions from former President Donald Trump, former Education Secretary Betsy DeVos and President Biden.
EDUCATION
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New York Post

Why student loan debt is trapping more Americans than ever

In August of 2018, Lisa, a 54-year-old single mother of two, met with a lawyer to discuss her student loans. As a working psychologist, she’d not just been to undergraduate college — Fairleigh Dickinson University in New Jersey — but also to Widener University in Pennsylvania, to earn her Ph.D. in psychology. In total, Lisa took out 16 different federal loans to pay for her education, for a grand total of $95,000.
EDUCATION
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CNBC

Can you use your college student loans for living expenses?

There are a few certainties in life: death, taxes and the fact that the cost of college continues to climb. Data from The National Center for Education Statistics states that in 2019–20, the average total cost of attendance for full-time, first-time undergraduate students living on campus at four-year private institutions was $53,200; at private nonprofit institutions, it was $35,100 and for public institutions, the cost was $25,500.
COLLEGES

Nancy Pelosi’s Surprise Flip on Student Debt Cancellation Came After Urging From Billionaire Power Couple

The drive to persuade President Joe Biden to cancel student debt took a major hit last week when House Speaker Nancy Pelosi stunned Congress with a surprise statement in opposition. The move may put her at odds with much of the public and the Democratic Party, but it aligns her with Democratic megadonors Steven and Mary Swig, the billionaire scions of the Bay Area’s oldest real estate dynasty who have deep ties to the California representative. Steven Swig has also long served as a treasurer for Pelosi in her fundraising efforts.
EDUCATION
Forbes

Biden Education Dept. Announces One More Student Loan Forbearance Extension

The Biden administration announced late Friday it will extend federal student loan forbearance through January 2022. It will be the “final” extension for the program, which was slated to end on Sept. 30, according to a release from the Department of Education. Federal loan forbearance began in March 2020, amid...
BUSINESS
KHOU

Student loan payment pause extended into 2022 by Biden administration

WASHINGTON — Editor's note: The attached video is from before the latest extension was announced. The Biden Administration announced Friday that the pause on federal student loan payments would be extended through January 2022. The announcement comes just a few weeks before the freeze was set to expire at the beginning of October.
COLLEGES
FOXBusiness

Student loan repayment pause extended until 2022, Biden admin announces

The Department of Education extended a pause on student loan repayment, interest, and collections, allowing borrowers more time to plan amid renewed concerns about COVID-19 due to the delta variant. "The payment pause has been a lifeline that allowed millions of Americans to focus on their families, health, and finances...
SMALL BUSINESS

5 Key Takeaways From Biden’s Extension Of Student Loan Relief

On Friday, the Biden administration announced that it will extend the student loan pause, which was previously set to expire at the end of September, to January 31, 2022. The student loan moratorium has suspended payments, frozen interest, and postponed collections on most federal student loans since March 2020. Here’s...
EDUCATION

Student Loan Cancellation Became Focus On Capitol Hill Today

Student loan cancellation became the early focus today during hearings on Capitol Hill. Here’s what you need to know. In a Senate Judiciary Committee hearing today, senators discussed a new, bipartisan student loan bill that would make it easier for more student loan borrowers to get student loan cancellation in bankruptcy. However, the early focus of the hearing turned toward wide-scale student loan forgiveness. Sen. Chuck Grassley (R-IA), the committee’s ranking member, addressed the issue of student loan cancellation, its impact on student loan borrower, and potential reasons for American’s high student loan debt. Here’s what he said:
COLLEGES

Student Loan Cancellation May Help More Borrowers, But That Doesn’t Mean Biden Will Cancel Everyone’s Student Loans

President Joe Biden is helping more student loan borrowers get student loan cancellation. Here’s what you need to know. Biden has been focused on helping more student loan borrowers get student loan cancellation, even if it’s not wide-scale student loan cancellation. His targeted approach has resulted in $3 billion in student loans cancelled. His latest focus is improving the Public Service Loan Forgiveness (PSLF) program, which helps student loan borrowers such as first responders, teachers, servicemembers in the military, nurses, doctors and other public servants get federal student loan cancellation. As part of the College Cost Reduction and Access Act, Congress created the federal program on a bipartisan basis in 2007 during the President George W. Bush administration. As of April 30, 2021, the U.S. Department of Education has cancelled $452.7 million of student loan debt for 5,467 student loan borrowers through the Public Service Loan Forgiveness program.
COLLEGES
CNBC

Student loan forgiveness scams are on the rise. How to avoid falling victim

Weeks after applying for public service loan forgiveness, a federal program that forgives student loan debt for eligible workers, Kathleen Young got a phone call. The woman on the other end said she could help Young forgive her student debt. Young, an elementary school teacher in Palo Alto, California, assumed it was the U.S. Department of Education calling about the public service program.
PERSONAL FINANCE

Student Loan Relief Could End Like Eviction Moratorium

The end of the federal eviction moratorium could spell the end of student loan relief. Here’s what you need to know. The federal eviction moratorium expired on July 31, 2021, and some progressives in Congress are shocked. How could this essential financial stimulus simply expire during the Covid-19 pandemic? There was a time when President Joe Biden may have extended student loan relief, even if the eviction moratorium and enhanced unemployment benefits ended. However, with less than two months until temporary student loan forbearance expires on September 30, 2021, there’s no clear sign that student loan relief will be extended. The expiration of the eviction moratorium may be a preview of what will happen to student loan relief. Here’s the breakdown:
EDUCATION

This Hidden Clue Suggests Biden Won’t Extend Student Loan Relief

This hidden clue suggests that President Joe Biden won’t extend student loan relief. Here’s what you need to know. Student loan relief, including temporary student loan forbearance, is scheduled to expire on September 30, 2021. That means federal student loan payments will resume starting October 1. There has been speculation among student loan borrowers and student loan advocates that Biden will extend student loan relief. There has also been no shortage of calls to extend student loan relief beyond September 30:
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