Biden administration canceling federal student loans for thousands
The program promises to erase loans for 55,000 workers after ten years in government or non-profit jobs.
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The program promises to erase loans for 55,000 workers after ten years in government or non-profit jobs.
President-elect Donald Trump has called the Biden administration's student loan relief efforts a "total catastrophe."
A major student loan deadline has passed—ending years of pandemic-related pause on payments. Experts Thursday night had some good news—and a word of warning about scams targeting borrowers. Sara Machi reports.
A federal judge in Georgia made a ruling that would allow for the Biden administration's sweeping relief that affects tens of millions of American borrowers.
The scam offers fake promises of lower monthly payments or loan forgiveness with immediate results and demands upfront fees.
The 12-month grace period for student loan borrowers ended Sept. 30. The "on-ramp" period helped borrowers struggling to make payments avoid the risk of defaulting and hurting their credit score.
In addition to the $120 million settlement, Navient will also be permanently banned from managing federal student loans.
Millions are in limbo after the U.S. Supreme Court continues to block President Biden's "SAVE" student loan repayment plan. It's on hold as a U.S. Circuit Court of Appeals decides whether it's lawful, which could take weeks. So, what should you do in the meantime?
College students can expect some sticker shock as interest rates on federal student loans will increase on July 1.
It's college graduation season and new grads will be entering the workforce with many now having to pay off student debt. CBS News Business Analyst Jill Schlesinger has some suggestions.
President Joe Biden stopped in the battleground state of Wisconsin on Monday to lay out details of his new student loan debt relief plan for millions of Americans.
The White House is helping people who serve the country. They include public service workers like firefighters, nurses, teachers, and more who've been in their jobs for at least a decade.
This latest $4.8 billion in relief brings the grand total of approved debt cancellation by the administration to $132 billion for over 3.6 million Americans.
After a three-year pause, federal student loan payments are set to resume for around 40 million Americans in October. CBS 2 speaks with a local financial expert about the new affordable repayment plan. Jordan Flowers with Wealth Financial Services & Tax Advisory breaks down how to see if you are eligible to apply to the program and other tips for paying off the debt.
After a three-year hiatus, interest on student loans begins piling up again on Friday, with payments due in October.
Last week the Supreme Court struck down the Biden Administration’s plan to cancel $430 billion worth of federal student loans, eliminating $20,000 in student loans for millions of Americans. If you’re wondering what’s next, CBS News Business Analyst Jill Schlesinger has tips on what borrowers can do before loan repayments resume on Oct. 1.
The ruling means 40 million Americans who stood to have thousands of dollars in debt wiped away will now have to pay up.
Federal loan payments have been on hold since the start of the pandemic, but now borrowers will have to resume payments. CBS 2's Charlie De Mar reports.
A sharply divided Supreme Court ruled in a 6-3 decision that the Biden administration overstepped its authority in trying to cancel or reduce student loans. This leaves borrowers on the hook for payments that are expected to resume in October. CBS 2's Marissa Perlman reports.
"We'll use every tool at our disposal to get you the student debt relief you need to reach your dreams," President Biden said.
Many new college grads need to to devise a plan to pay off student debt while also considering their healthcare and retirement investment options. CBS News Business Analyst Jill Schlesinger has some tips.
Booser went 2-3 with a 3.38 ERA, one save and 43 strikeouts in 43 relief appearances with the Red Sox in his first season in the majors in 2024.
Tyler Bertuzzi had two goals and an assist, and Connor Bedard added a goal and two assists for the Blackhawks.
A Level 1 hazardous materials response also was initiated. According to unconfirmed fire dispatch reports, there were explosions inside the building after the fire started.
Temperatures keep rising through next weekend, eventually climbing to the 50s.
Lance Corporal Diego Escobedo-Hernandez arrived at O'Hare International Airport on Friday. He's been working as a drone operator at a base in North Carolina, and said he hasn't seen his family in nearly a year.
Several City Council members have called the school board's vote to fire Martinez without cause reckless and irresponsible.
Because Martinez was fired without cause, his contract allows him to stay on the job for another six months, and receive 20 weeks of severance pay.
Martinez was at Luther Burbank Elementary, 2035 N. Mobile Ave., as the Special Olympics recognized the school for excellence in inclusive sports programming.
Henyard had named three people to serve as police chief, village administrator, and village attorney without approval from the village board.
Many, including alderpersons and the members of the incoming elected school board, are denouncing the planned agenda.
The strike was deliberately authorized in the midst of the busy holiday delivery season nationwide for a reason—with the Teamsters Union pushing the company for a contract.
The oysters were sold as Fanny Bay, Buckley Bay, and Royal Miyagi.
Customers said contractors from the company, Orange Elephant Roofing & Solar, seemed simply to disappear into thin air. But that is only the tip of the iceberg.
Anyone who has an affected Connie's Pizza in the freezer should either throw it out or bring it back to the store for a refund.
The Chicago-based company is accused of tricking diners about delivery fees, misleading drivers about pay, and listing restaurants on its platform without permission.
Some 13 oz. bags of Lay's Classic Potato Chips may contain an undeclared allergen, according to the snack company.
The Wisconsin Department of Health Services announced Wednesday that it had detected presumptive positive human case of H5N1 in Barron County.
The sisters share a special bond of getting a second chance at life, which they both received at the age of 38 years old.
An even larger investment of $500 million is going toward 10 new outpatient facilities throughout the South Side that will add 85,000 health care appointments each year.
Scientists used the NanoGripper to grab particles from the SARS-CoV2 virus that causes COVID-19.
The strike was deliberately authorized in the midst of the busy holiday delivery season nationwide for a reason—with the Teamsters Union pushing the company for a contract.
Owner Eddie Lakin made the announcement Wednesday. He said the last day for the restaurant at 1571 Sherman Ave. would be this coming Saturday, Dec. 21.
This move was anticipated back in the summer, and comes months after the mortgage company Guaranteed Rate changed its name simply to Rate.
Both President Biden and President-elect Trump have vowed to block the $15 billion acquisition on national security grounds.
The bar has been in the ownership of the same family since 1989.
Taylor also played two nights at Ravinia this past June.
Mindy Kaling and Morris Chestnut announced the nominations for the 82nd annual Golden Globes, with 10 nominees revealed live on CBS News.
The lawsuit alleges the unidentified girl was raped at a Video Music Awards afterparty in 2000.
Social media sleuths noticed that the house next door to the iconic "Home Alone" house in Winnetka is now up for sale.
Here are the top songs, artists, and albums streamed on Spotify in Chicago this year, according to communications agency Burson Global.
CBS News Chicago meteorologist David Yeomans has the latest forecast.
A U.S. Marine from west suburban Berwyn is back home for Christmas, thanks to a nonprofit that helps service members fly for free for important visits to their family.
President Biden signed a funding bill into law on Saturday to prevent a federal government shutdown just before the holidays.
A memorial is growing in Magdeburg, Germany, at the site of Friday's deadly attack on a Christmas market. Five people were killed, including a 9-year-old girl, and more than 200 others were hurt.
It's the last weekend before Christmas and Hannukah. For some people, that means dashing to the stores for a few final gifts on their shopping list.
Several City Council members have called the school board's vote to fire Martinez without cause reckless and irresponsible.
When officers arrived, they saw a gunman shooting at an individual on the ground. The suspect then fired at officers, hitting their squad car.
Have you ever looked up in the sky and noticed colored spots on either one or both sides of the sun? If so, you probably saw a sun dog, also known as parhelia or mock sun.
Booser went 2-3 with a 3.38 ERA, one save and 43 strikeouts in 43 relief appearances with the Red Sox in his first season in the majors in 2024.
Tyler Bertuzzi had two goals and an assist, and Connor Bedard added a goal and two assists for the Blackhawks.
"San Antonio has really led the way in using aerial surveillance technology to prevent these activities," said Ald. Brian Hopkins (2nd), who chairs the City Council Public Safety Committee.
Customers said contractors from the company, Orange Elephant Roofing & Solar, seemed simply to disappear into thin air. But that is only the tip of the iceberg.
Survivors, advocates and experts have weighed in on Mayor Brandon Johnson's pledge to create a task force to study the safety of Black women in Chicago.
The Chicago-based company is accused of tricking diners about delivery fees, misleading drivers about pay, and listing restaurants on its platform without permission.
Now-retired Joliet police Sgt. Javier Esqueda was charged in connection with leaking squad car video of a man who died in Joliet police custody.
Booser went 2-3 with a 3.38 ERA, one save and 43 strikeouts in 43 relief appearances with the Red Sox in his first season in the majors in 2024.
Tyler Bertuzzi had two goals and an assist, and Connor Bedard added a goal and two assists for the Blackhawks.
Rickey Henderson is widely considered to be one of the best leadoff hitters and base stealers in baseball.
Jeremiyah Love tied the Notre Dame record with a 98-yard touchdown run, Riley Leonard added two more scores and the Fighting Irish shut down the highest-scoring team in the College Football Playoff, overwhelming Indiana 27-17 on Friday night.
Teuvo Teravainen had two assists as the 'Hawks closed out a perfect three-game homestand.
With the holidays fast approaching, many Lincoln Parkers want others to be aware and stay safe as they get ready to travel.
It happened around 4 a.m. at Eddie's Market in the 11000 block of South Halsted Street.
Richard Allen was sentenced to 65 years for each death, totaling 130 years in prison.
Sidi Mohamed Abdallahi, 22, had been facing hate crime and terrorism charges in an attack on a Jewish man in late October. He has since died by suicide in custody
Damonte McCorkle is charged with aggravated kidnapping, two counts of aggravated carjacking, and armed robbery.
