Tag: student-loan

April 12, 2024

President Biden’s new plan to forgive some or all student loans for 26 million Americans would cost about $84 billion over 10 years, according to economists at the Penn Wharton Budget Model, a nonpartisan research organization at the Wharton School […]

January 5, 2024

For over three years, the federal government paused monthly student loan payments and interest accrual, citing the COVID-19 pandemic. Since payments restarted in October, many customers have said they faced administrative challenges and received little communication from loan service providers. […]

October 31, 2023

Millions of borrowers didn’t receive their student loan bills on time, a mistake that led thousands of borrowers to miss their payments, the Education Department said Monday. Because of that error, the department won’t pay the Missouri Higher Education Loan […]

September 29, 2023

The interest rates on new graduate loans from the U.S. Department of Education now top 7% while those for undergraduate loans have reached over 5%, the highest levels they’ve been in over a decade. That’s partly because the Federal Reserve […]

August 22, 2023

Student loan borrowers can now apply for the Biden administration’s new loan repayment program, and the Education Department is working with a network of organizations to spread the word. The release of the application, which launched in beta form earlier […]

July 18, 2023

Biden took immediate action after the Supreme Court ruled against his initial loan forgiveness plan, which would have forgiven up to $20,000 for borrowers earning less than $125,000 a year. The same day the high court handed down its decision, […]

July 17, 2023

My dad and I sat slouched over his computer on a warm summer night a few months before the start of my junior year of college. We had been browsing my school’s financial aid website crunching every number. We were […]

July 17, 2023

More than 804,000 borrowers will have their student loans forgiven in the next month following moves by the Biden administration to count more payments toward forgiveness. The administration said in April 2022 that it would adjust accounts to give borrowers […]

June 20, 2023

For three decades, incarcerated students haven’t been allowed to tap into federal Pell Grants, a primary form of financial aid for low- and moderate-income borrowers. But that will change come July, when new rules take effect giving them access to […]

May 11, 2023

The Office of Federal Student Aid faces a “colossal undertaking” as it prepares to resume student loan payments after an unprecedented three-year pause, and funding constraints could hamper that effort, student loan experts say. Experts and advocates are worried that […]

March 1, 2023

The 20th century witnessed an astonishing growth in presidential power, leading some to contend that the office had become “imperial,” dominating other branches of government. President Biden’s decision in 2022 to forgive more than $350 billion in student loan debt—an […]

January 17, 2023

A great deal has changed since March 2020, when executive and Congressional action paused payments on most federal student loans. The national unemployment rate spiked at 14.7 percent in April 2020, but receded dramatically and has stayed below 4 percent […]

January 9, 2023

Pending lawsuits stand to reshape the higher education landscape in the next year. The U.S. Supreme Court, which now has a strong conservative majority, is expected to rule on a handful of cases concerning higher education. That includes lawsuits over […]

January 5, 2023

The Biden administration announced late Wednesday that the Education Department would hold a series of negotiated rule-making sessions this spring to propose new rules regarding accreditation, distance education, student loan deferments and a range of other topics. The administration’s plan […]

December 29, 2022

The burden of student debt is no longer a new topic of discussion among American students, graduates, and government officials. However, it gained even more attention in 2022, when President Joe Biden announced his intention to forgive federal student loans. […]

December 22, 2022

The analysis offers a glimpse at trends in the graduate degree market amid seismic changes in federal student loan policy. President Joe Biden is fighting in court to carry out broad federal student loan forgiveness, and his administration has separately […]

September 27, 2022

The Congressional Budget Office, Congress’s nonpartisan research arm, estimates that President Biden’s plan to forgive some federal student loans and suspend payments through the end of the year will cost the government about $420 billion. The CBO released its estimate, […]

August 26, 2022

Biden said he is canceling up to $10,000 for most borrowers, or up to $20,000 for borrowers who received federal Pell Grants, which generally go to those from low- and moderate-income households. His plan includes an income cap, meaning it […]

August 25, 2022

President Biden this week announced plans to provide what he called “targeted debt relief” to student loan borrowers: “up to $20,000 in debt cancellation to Pell Grant recipients with loans held by the Department of Education, and up to $10,000 […]

July 6, 2022

A group of 180 national and state organizations urged President Biden to extend the student loan payment pause, which is set to expire in just under two months on Aug. 31, in a letter sent June 30. The payment pause, […]