Tag Archives: student loan debt

Jimmy Williams In a significant move aimed at easing the financial burden on thousands of student loan borrowers, the White House has announced the forgiveness of an additional $7.4 billion in student loan debt. This latest relief effort, unveiled by the Biden administration, is expected to benefit approximately 277,000 borrowers …

Ariana Figueroa, Florida Phoenix President Joe Biden announced Friday that some federal student loan borrowers will have their loans cancelled under the Department of Education’s new repayment plan. Starting next month, people who took out under $12,000 in federal student loans and have been repaying those loans for 10 years …

The Biden administration has introduced a new initiative to address student loan debt after the Supreme Court blocked a plan to eliminate $10,000 to $20,000 in debt for borrowers. The Department of Education will implement a revised income-driven repayment (IDR) plan called “Saving on A Valuable Education” (SAVE), which aims …

President Joe Biden’s plan to forgive more than $400 billion in student loan debt to over 40 million borrowers drew criticism from conservative members of the U.S. Supreme Court on Tuesday as the justices heard oral arguments in a pair of cases that will decide the fate of one of …

Elaine S. Povich Indiana will apply state income taxes to federally forgiven student loans, joining North Carolina and Mississippi, diminishing the benefit to borrowers who live in those states. A handful of other state revenue agencies are considering doing the same. While President Joe Biden’s order last month forgiving student …

Nadra Nittle, The 19th President Joe Biden announced a highly anticipated plan Wednesday to offer student loan relief to more than 40 million people, a move supporters hope will have life-changing ramifications for borrowers, particularly women, who hold two-thirds of student loan debt, and women of color, whose loan debt is …

Five years after Senate Minority Leader Mitch McConnell aggressively pushed a $1.9 trillion tax cut package that disproportionately benefited corporations and the wealthiest Americans, progressives on Wednesday were uninterested in his complaints about President Joe Biden’s cancellation of some student debt for working Americans. “You should sit this one out,” …

Kenny Stancil, Common Dreams While disappointed that President Joe Biden declined to wipe out all $1.6 trillion in federal student loan debt held by more than 45 million borrowers, progressives welcomed other relief measures announced Wednesday. Biden’s move to cancel up to $10,000 in debt for federal borrowers with individual …

President Joe Biden announced Wednesday that he will cancel up to $20,000 in federal student loan debt for Pell Grant borrowers and up to $10,000 for all other borrowers with an income of less than $125,000 for an individual and $250,000 for a household. Biden also announced his administration is extending …

President Joe Biden is nearing a decision on whether to cancel some federal student debt, and multiple media reports say the announcement will come as soon as today. The expected announcement comes just one week before the years-long pause on federal student loan payments is set to expire on Wednesday, …

With only two weeks before a pandemic-related pause on federal student loan payments expires, progressive lawmakers and organizations on Wednesday reiterated demands for U.S. President Joe Biden to finally take sweeping debt cancellation action. While Biden only campaigned on forgiving $10,000 per borrower and has reportedly considered setting an income …

President Joe Biden is planning to forgive $10,000 in student debt per borrower, a central campaign promise that would relieve debt for millions of Americans, The Washington Post reported. Biden’s proposal, however, is still not finalized. The announcement of the president’s plan to address the $1.7 trillion currently owed to the federal …

President Joe Biden reportedly said he’s considering canceling some student loan debt in a private meeting with House Democrats. Two sources told NBC News that the president received requests from the Congressional Hispanic Caucus members to extend the pause on student loan payments and cancel at least $10,000 in student loan …

United States Senator Elizabeth Warren (D-Mass.), Senate Majority Leader Charles E. Schumer (D-N.Y), and United States Representatives Pramila Jayapal (D-Wash.), Ayanna Pressley (D-Mass.), Ilhan Omar (D-Minn.), and Katie Porter (D-Calif.) led more than 80 Senate and House colleagues calling on the Biden administration to release the Department of Education’s (ED) …

President Joe Biden has sent an inquiry to Education Secretary Miguel Cardona about his legal authority to cancel student loan debt. “He asked his secretary of Education, who’s just been on the job a few weeks, once he got on the job to have his department prepare a memo on the …