Biden unveils new student debt plan for people with financial hardships
President Joe Biden's plans to forgive student debt have hit legal roadblocks. Now a new plan would look to help people experiencing financial hardships.
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President Joe Biden's plans to forgive student debt have hit legal roadblocks. Now a new plan would look to help people experiencing financial hardships.
About 1 in 10 people with student loans have gotten debt relief, according to the Biden administration.
The Biden administration says it has now wiped away $167 billion of student loans for 4.75 million people, or 1 in every 10 borrowers.
The Biden administration said it's erasing debt for people who attended the for-profit Art Institutes, which shut down in September.
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President Joe Biden unveiled a new plan that comes after the Supreme Court ruled against his previous debt-forgiveness program.
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President Biden said that of the borrowers who can get their loans forgiven, nearly 44,000 are teachers, nurses, firefighters and others who are eligible for forgiveness after working 10 years of public service.
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.
As student loan repayments restart in October, the Biden administration said 125,000 people with student loans will have their debt erased.
Some borrowers who had enrolled in income-driven repayment plans will start getting their debt discharged this week.
The new income-driven repayment plan could cut borrowers' monthly payments in half, while some could see their monthly payments go down to $0.
Students enrolled in the for-profit school between 2006 and July 1, 2020, will get their debt automatically forgiven.
One part of plan for tackling student debt could spur more people than expected to join program, analysis says.
The Department of Education's website now informs borrowers: "Student loan debt relief is blocked."
The program had already been on hold since the 8th Circuit Court of Appeals issued a temporary stay last month.
More than 40 million Americans may qualify, with income the main factor that determines who qualifies for relief.
Most of the benefit of erasing college loans would go to households earning below $88,000, new analysis finds.
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Jared W. Hedges, a ski coach of Team Summit Colorado, has been suspended after his arrest for allegedly sexually assaulting a 9-year-old boy on his ski team.
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Colorado State University said on Wednesday that an additional student had their visa revoked after several were revoked a day earlier. The Department of State acknowledged the move but won't say why they were revoked.
President Trump is expected to announce the details of his reciprocal tariffs plan after 4 p.m. at the White House.
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Tony's Chocolonely is recalling some products after consumers reported finding "small stones" in the chocolate bars.
Jittery investors await Trump administration's latest salvo of tariffs on key U.S. trading partners.
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