President Joe Biden announced the cancellation of $7.7 billion in student debt for over 160,000 borrowers through income-driven repayment plans.
Tags: Student loan forgiveness
Student Loan Repayments Set to Decrease as Appeals Court Backs Biden's Plan
A federal appeals court has permitted the US Education Department to implement a plan reducing monthly student loan payments.
Biden's Student Loan Forgiveness Plan Dealt Setback by Federal Judges Blocking $160 Billion Measure
Two federal judges have blocked key components of President Biden's $160 billion student loan forgiveness plan, dealing a significant setback to the administration's efforts to relieve millions of borrowers.
Student Loan Payments Set to Halve for SAVE Plan Participants Starting July
Starting in July, borrowers enrolled in the Saving on a Valuable Education (SAVE) Plan will see their monthly student loan payments reduced from 10% to 5% of their income.
Californians Have Until June 30 to Qualify for Faster Student Loan Forgiveness, Lower Payments
Up to 300,000 Californians must apply by June 30 to benefit from a special federal student loan forgiveness program offering faster forgiveness, lower payments.
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The Biden administration has extended a vital deadline for student loan borrowers seeking debt relief, pushing the deadline for loan consolidation to June 30.
The interest rate on new federal student loans for undergraduates during the upcoming 2024-25 academic year will reach its highest rate in over a decade.
Student loan forgiveness depends on employment eligibility, especially for nonprofit or government workers eligible for Public Service Loan Forgiveness (PSLF).
According to a recent report, the Biden administration has announced the cancellation of 10% of all student debt in its latest round of actions.
Some student loan borrowers may be eligible for a one-time debt cancellation or credit, but they must act before Tuesday.
The temporary suspension of student loan forgiveness is part of a larger attempt to move the Public Service Loan Forgiveness program to a new servicing platform.
The Biden administration has announced its official plans to address the issue of ballooning interest and alleviate the burden of student loan debt for borrowers.
US President Joe Biden has made a significant announcement, revealing his decision to cancel $7.4 billion in student loan debt for over 277,000 individuals.
President Joe Biden will reveal the plan on Monday in Madison, Wisconsin, which is where the main campus of the University of Wisconsin is located.
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