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The Biden administration announced Tuesday a new income-driven student loan repayment plan that could lower or eliminate monthly payments for more than 20 million borrowers. CBS News White House reporter Bo Erickson has more.
Some borrowers who had enrolled in income-driven repayment plans will start getting their debt discharged this week.
Only one-third of borrowers are aware that loan repayments will restart in October, a new survey found.
Many graduates aren't earning enough to even pay down their interest, causing loans to snowball.
The new income-driven repayment plan could cut borrowers' monthly payments in half, while some could see their monthly payments go down to $0.
The Biden administration announced they will forgive student loans for more than 800,000 borrowers who have made at least 20 years of payments. That forgiveness comes as the Education Department prepares to implement major changes to a repayment plan which will reduce borrowers' monthly payments. Errol Barnett has more on how this all may affect you.
The Biden administration is taking steps to forgive billions in student loan debt. It's doing so by making fixes to some repayment plans. The move will automatically forgive $39 billion of educational debt. This comes after the Supreme Court struck down another student debt forgiveness plan just weeks ago. CBS News reporter Natalie Brand has more.
Millions of Americans are preparing to resume paying back their student loans in October. That's after the Supreme Court overturned President Biden's plan to forgive up to $20,000 in debt last week. Emily Irwin, managing director and senior director of advice at Wells Fargo Wealth and Investment Management, has tips for how to prepare.
President Biden announced he intends to purse a new student loan forgiveness plan under the Higher Education Act after his original plan was overturned by the Supreme Court. Skyler Henry reports from Washington.
The Supreme Court this week struck down the Biden administration's student loan forgiveness plan, and also ruled against the use of affirmative action in higher education. The high court also ruled that businesses can refuse service to LGBTQ customers. Christina Ruffini has more on how the White House is responding.
CBS News Business Analyst Jill Schlesinger answers your biggest questions after the Supreme Court ruling on Biden's student loan forgiveness plan.
The Supreme Court voted in a 6-3 decision to strike down the Biden administration's plan to forgive student loans through the HEROES Act. Biden responded by laying out a new plan to waive or modify student debt. Christina Ruffini reports.
The Supreme Court on Friday struck down the Biden administration's student loan relief program. Monique White, financial expert and head of community at Self Financial, joins CBS News to share tips on navigating finances after the student loan decision.
The conservative Supreme Court majority on Friday struck down President Biden's student loan forgiveness plan while also ruling on a case involving LGBTQ rights, religious freedom and free speech. CBS News chief Washington correspondent Major Garrett reports. Then CBS News legal contributor Jessica Levinson examines how the president could try to move forward with loan forgiveness.
In a 6-3 decision, the Supreme Court on Friday struck down a Biden administration plan to cancel billions of dollars in student debt. Major Garrett has the latest.
President Biden delivered remarks criticizing the Supreme Court's decision to strike down his student loan forgiveness plan. In a 6-3 ruling Friday, the court's conservative majority said federal law does not allow the program to wipe out nearly half-a-trillion dollars in debt. Mr. Biden says he will take action to address the problem in other ways. Watch his full remarks and analysis in this CBS News Special Report.
"We'll use every tool at our disposal to get you the student debt relief you need to reach your dreams," President Biden said.
About 40 million Americans are no longer eligible for debt relief after the Supreme Court threw out President Biden's student loan forgiveness plan.
The Supreme Court's conservative majority has recently upended decades of past precedent involving issues that have shaped American life. CBS News legal contributor Jessica Levinson and chief Washington correspondent Major Garrett break down some of the major decisions this term -- and what to expect moving forward.
The fallout has already begun after the Supreme Court ruled 6-3 that President Biden's student loan forgiveness plan is unlawful. CBS News legal contributor Jessica Levinson, student loan expert Mark Kantrowitz, CBS News chief Washington correspondent Major Garrett and CBS News congressional correspondent Nikole Killion have more.
The Supreme Court struck down President Biden's student loan forgiveness plan, denying relief to 40 million Americans who stood to benefit from the program.
The Supreme Court ruled 6-3 that President Biden's student loan forgiveness plan is unlawful. Chief Washington correspondent Major Garrett and CBS News correspondent Christina Ruffini have more on how the justices came to that decision.
The Supreme Court in a 6-3 decision struck down President Biden's student loan forgiveness plan Friday, denying relief to 40 million Americans who stood to benefit from the program. Nate Burleson anchored CBS News' special report.
The Supreme Court ruled Friday in favor of a Colorado graphic artist who declined to design wedding websites for same-sex couples.
The Supreme Court is expected to rule this month on the legality of President Biden's student debt forgiveness plan. A pause on debt repayment is set to expire in September. CBS News' MoneyWatch associate managing editor Aimee Picchi has more.
President-elect Donald Trump made the announcement Thursday evening after Matt Gaetz withdrew himself from consideration.
Former Fox News host Pete Hegseth was with Vice President-elect JD Vance on Capitol Hill on Thursday.
President-elect Donald Trump announced Gaetz as his nominee to be attorney general last week.
The suit claims McMahon and others at the WWE were aware of misconduct decades ago and negligent in failing to prevent it.
A truck driver claims Israeli tanks and an Israeli drone watched as the aid convoy he was with was attacked in Gaza. But Israel's military says it is not responsible for protecting the aid.
Incumbent Sen. Bob Casey on Thursday conceded in the U.S. Senate race in Pennsylvania to Dave McCormick.
Sarah McBride, set to be the first transgender member of Congress, talked with CBS News' Scott MacFarlane and commented on the GOP's effort to restrict bathroom use.
Haley said of Kennedy, Trump's pick to be HHS secretary, that he has no background in health care and accused Gabbard, tapped for DNI, of repeating "Russian talking points."
The state's highest court ruled a special prosecutor's decision to re-indict Smollett violated his constitutional rights after Cook County prosecutors previously dropped charges against him.
Former Fox News host Pete Hegseth was with Vice President-elect JD Vance on Capitol Hill on Thursday.
Shohei Ohtani becomes the second player named MVP in both the American and National leagues.
Yankees outfielder Aaron Judge was a unanimous pick to win his second American League Most Valuable Player Award in three seasons on Thursday.
President-elect Donald Trump made the announcement Thursday evening after Matt Gaetz withdrew himself from consideration.
Haley said of Kennedy, Trump's pick to be HHS secretary, that he has no background in health care and accused Gabbard, tapped for DNI, of repeating "Russian talking points."
While some are bullish, other experts warn of investment risks as what comes next is impossible to know.
Donald Trump's proposed tariffs could raise costs for U.S. consumers, economists say. Here's how much grocery bills could rise.
Warehouse chain follows rival Costco in raising amount its 7.5 million members must pay to shop at BJ's stores.
Elon Musk and Jeff Bezos — the two richest people on the planet — are squabbling over social media. No, really.
Billionaires Elon Musk and Vivek Ramaswamy say the Department of Government Efficiency has targets in mind for cost cutting.
A truck driver claims Israeli tanks and an Israeli drone watched as the aid convoy he was with was attacked in Gaza. But Israel's military says it is not responsible for protecting the aid.
Former Fox News host Pete Hegseth was with Vice President-elect JD Vance on Capitol Hill on Thursday.
President-elect Donald Trump made the announcement Thursday evening after Matt Gaetz withdrew himself from consideration.
Haley said of Kennedy, Trump's pick to be HHS secretary, that he has no background in health care and accused Gabbard, tapped for DNI, of repeating "Russian talking points."
Incumbent Sen. Bob Casey on Thursday conceded in the U.S. Senate race in Pennsylvania to Dave McCormick.
Life expectancy in the United States varies by more than 20 years depending on race and ethnicity and where you live, according to new research.
Kennedy's team is weighing a significant rewrite of the FDA's rules.
A new potential case of bird flu in a California child without known contact with infected animals is raising concerns about a potential pandemic. Dr. Céline Gounder explains what to know.
CBS News medical contributor Dr. Celine Gounder joins "CBS Mornings" to discuss the latest on bird flu as new cases raise alarms among health officials. There have been 53 confirmed human cases across seven states this year. Health officials in California are reporting a possible case in a child who had no known contact with an infected animal.
The FDA says America's food supply is still "one of the safest in the world," despite some recent high-profile recalls and outbreaks.
A truck driver claims Israeli tanks and an Israeli drone watched as the aid convoy he was with was attacked in Gaza. But Israel's military says it is not responsible for protecting the aid.
Former president Jair Bolsonaro and 36 other people were indicted for allegedly attempting a coup to keep him in office after his defeat in the 2022 elections.
A volcano erupted in southern Iceland, near the town of Grindavík and the Blue Lagoon spa, marking the region's seventh eruption in a year.
The amulet was found during an ongoing excavation project in Hadrianopolis, an ancient city near Karabük, Turkey.
The leaders are accused of crimes against humanity and war crimes over the war in Gaza and the Oct. 7 Hamas attack on Israel.
Connie Nielsen opens up about returning as Lucilla in "Gladiator II," reuniting with director Ridley Scott and exploring her character's emotional journey.
Singer-songwriter Shelby Lynne opens up about her new album and how her friendships helped save her when she thought her recording career could be over.
Making his feature directorial debut, Malcolm Washington brings August Wilson's Pulitzer-winning play to the screen with help from his father, Denzel Washington and siblings John David and Katia
Ahead of the sequel's release, Connie Nielsen joins "CBS Mornings" to talk about stepping back into the world of Ridley Scott's epic saga and her character's emotional journey.
After overcoming years of personal struggles, Grammy winner Shelby Lynne is back with her first album in years. She tells Anthony Mason why her return to recording came as a surprise, even to her.
Australian legislators introduced a landmark bill Thursday to ban social media for children under 16. CBS News London's Leigh Kiniry reports on what this could mean for social media companies.
The Department of Justice on Wednesday filed a motion calling for Google to sell its Chrome search engine, arguing in court documents that "the playing field is not level." The Justice Department is also recommending dissolving any contracts in which Google is the default search engine on devices such as iPhones. Kelly O'Grady explains.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
While some are bullish, other experts warn of investment risks as what comes next is impossible to know.
Elon Musk and Jeff Bezos — the two richest people on the planet — are squabbling over social media. No, really.
A volcano erupted in southern Iceland, near the town of Grindavík and the Blue Lagoon spa, marking the region's seventh eruption in a year.
Conservationists are teaming up with the U.S. Forest Service and logging companies to clear scorched land and make room for new reforestation projects.
Large wildfires fueled by climate change have destroyed tens of millions of acres of forests in the Pacific Northwest in recent years. Jonathan Vigliotti explores a major effort underway to restore those forests.
The U.S. Fish and Wildlife Service has proposed new protections for giraffes, saying their populations are threatened by poaching, habitat loss and climate change.
The carcass was comparable to the width of a college basketball court and female, according to biologists.
Cristian Fernando Gutierrez-Ochoa — the son-in-law of Jalisco New Generation cartel leader "El Mencho" — was arrested in Riverside, California, officials said.
The FBI has arrested a Florida man who's accused of plotting to bomb the New York Stock Exchange. CBS News New York reporter Allen Devlin has more.
Colin Gray and his son, Colt Gray, were both indicted in the Sept. 4 shooting that killed two students and two teachers and injured others.
A judge on Wednesday found Jose Ibarra guilty on all 10 counts in the murder of University of Georgia student Laken Riley. Ibarra was sentenced to life in prison without the possibility of parole.
Edward Kelley distributed a "kill list" and videos containing images of FBI employees to another person as part of his "mission," prosecutors say.
President-elect Donald Trump attended SpaceX's sixth flight test of its Super Heavy-Starship on Tuesday with CEO Elon Musk. The burgeoning friendship between the two men played a key role in Trump's reelection, with Musk now set to run a government efficiency agency in the coming months. CBS News political reporter Jake Rosen and Politico aviation reporter Oriana Pawlyk join "America Decides" with more.
President-elect Donald Trump was on hand with Elon Musk for the sixth test flight of SpaceX's huge Super Heavy-Starship rocket.
Researchers analyzed lunar soil brought back by China's Chang'e-6, the first spacecraft to return with a haul of rocks and dirt from the little-explored far side.
November's full moon, known as the Beaver Moon, is the last supermoon of 2024. Here's when it peaks and why it's called the Beaver Moon.
Medical issues aside, the astronauts described a water leak in June that triggered a blizzard in the International Space Station's airlock.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
See some of convicted serial killer Rodney Alcala's photographs that were discovered by detectives in a Seattle storage locker.
The seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
A look at the evidence in "The Dexter Killer" case; plus, newly revealed letters from the man police say wanted to be like fictional serial killer Dexter Morgan.
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
There's a major effort underway to bring more Black doctors into hospitals and examination rooms nationwide, and that effort is focused on easing the burden of medical school for students at historically Black colleges and universities. Jericka Duncan has more.
Australian legislators introduced a landmark bill Thursday to ban social media for children under 16. CBS News London's Leigh Kiniry reports on what this could mean for social media companies.
The American Farm Bureau Federation's annual survey found a difference between 2024 and 2023 Thanksgiving dinner prices. Business Insider senior personal finance reporter Jennifer Streaks discusses the cost changes and how to find meal deals.
Conspiracy theorist Alex Jones filed a lawsuit this week to try to block the sale of his right-wing company Infowars to satirical publisher The Onion. CBS News legal contributor Jessica Levinson breaks it down.
The Pentagon said Russia fired an experimental intermediate range ballistic missile at central Ukraine on Thursday. CBS News foreign correspondent Holly Williams reports.