Several cohorts of borrowers continue to be excluded from new student loan forgiveness expansions. And as President Biden reportedly considers an even broader student loan cancellation initiative, many may be wondering if they will be left out yet again.
The Biden administration is in the process of implementing significant new federal student loan forgiveness initiatives. But depending on the specific program and the exact timing of that loan forgiveness, some borrowers may wind up getting hit with a surprise...
In Coat of Many Colors, Dolly Parton sang that you are only poor if you choose to be. That was my parents’ philosophy when I was a kid. We ain’t poor; we’re middle class. Perhaps to prove that we were climbing upward on America’s economic...
A top Biden administration official indicated that the ongoing student loan payment pause is going to end, and payments will resume. But he did not confirm a specific timeline, leaving open the possibility for yet another extension.
A group of student loan borrower advocacy organizations filed a lawsuit on Thursday against the Biden administration, accusing officials of delaying the processing of thousands of applications for student loan forgiveness for borrowers who were defrauded by their...
While it is too soon to know whether Biden will actually take action to unilaterally cancel student loan debt using executive authority, it is becoming clearer what it might look like if he does. Here are the details.
There are some actions that student loan borrowers may not want to take — at least for now — as the debate over broad student loan forgiveness continues.
Is everybody having fun? According to the feds, the economy is booming: millions of new jobs and rising wages. The defense industry and its stockholders are getting rich from the Ukraine War, and college students are likely to get all their student-loan debt...
The Biden administration says that millions of student loan borrowers may ultimately benefit from new initiatives, many automatically. But other borrowers will have to take a critical step first to qualify for student loan forgiveness.
Student loan interest rates are set to rise in the coming months. Here’s what it means for millions of borrowers.
Over the course of the last year, the Biden administration has enacted a series of student loan forgiveness initiatives, and much of it is being enacted automatically. Here’s where things stand.
A few days ago, Chris Martenson posted a blog essay titled “Will You Starve to Death This Year?” Martenson pointed out that escalating prices for natural gas have led to a global rise in fertilizer costs. The price of diesel, which runs the world’s...
The Biden administration has indicated that tens of thousands of borrowers will be eligible for “immediate” student loan forgiveness following sweeping changes to key federal student loan programs. But questions remain about the actual timing and implementation of...
The Biden administration has finally launched a formal appeal and reconsideration process for borrowers denied student loan forgiveness under a key program for people working in public service careers. Here are the details.
President Biden touted student loan forgiveness initiatives that will benefit hundreds of thousands of borrowers, even as he indicated that he is considering cancelling more student debt.
President Biden told reporters on Thursday that he is considering taking executive action to broadly cancel student loan debt, and a decision may be imminent. Here’s what you need to know.
Momentum towards some form of broad student loan forgiveness initiative appears to be building as President Biden seriously contemplates using executive action to cancel student debt for a broad swath of borrowers. But there could be a catch.
As Reported by Steve Rhode in Get Out of Debt Guy, the Federal Trade Commission has filed an action against St. James School of Medicine, located in the Caribbean. According to the FTC, St. James “deceptively marketed the school’s medical license exam...
The Biden administration is sending signals this week that that wide-scale student loan forgiveness remains is under serious consideration.
Jaime Aleckna was a student at California Coast University until 2009, and she met all the academic requirements for graduating. However, she still owed CCU $6215 when she filed for bankruptcy in 2012. Under the Bankruptcy Code, her bankruptcy petition triggered an...
The new student loan forgiveness initiative announced by the Biden administration may ultimately result in several million borrowers getting their student loans cancelled in the coming years.
The Biden administration’s new IBR changes will dramatically expand the pool of borrowers who qualify for student loan forgiveness. Here’s who qualifies, and what borrowers need to do.
Over 3.6 million borrowers are expected to benefit, with at least 40,000 borrowers receiving immediate student loan forgiveness.
Our government spent trillions of dollars responding to COVID, and just about everybody got a little something from Uncle Sam. Sometimes I think my wife and I are the only people in the United States who didn’t get a COVID relief check. For example, 14,000 law...
The Biden administration this week announced that it has cancelled $7 billion in federal student loan debt for 350,000 borrowers through a data-sharing initiative between the Education Department and Social Security Administration. Here are the details.
The Biden administration has recently made some temporary but impactful changes to income-based repayment programs for federal student loans. And even bigger reforms may be on the way, which could lead to more student loan forgiveness.
President Biden is more open to enacting widespread student loan forgiveness than he has ever been before, a top Democratic senator told student loan borrower activists at a virtual summit.
In the last six months, the Biden administration has announced a series of new student loan relief measures that will benefit millions of student loan borrowers. These include relief on payments, assistance for borrowers in default, and new student loan forgiveness...
Millions of borrowers will benefit from new student loan relief just announced by President Biden. Here’s who qualifies.
There’s reason to believe that student loan payments won’t actually restart, even in September. And there’s a pretty good chance that the payment pause will be extended yet again, perhaps to the end of the year or beyond. Here’s why.
In the 1990s, Wendi LaBorde took out student loans totaling about $75,000, but she could not repay those loans. Over time, interest accrued on the debt. In 2010, the Department of Education obtained a judgment against Ms. LaBorde for approximately...
The White House made clear this week that some form of broad student loan cancellation remains under consideration.
The Biden administration announced a new round of federal student loan relief on Wednesday, including another extension of the ongoing student loan payment pause. But the announcement also included a new form of relief that will have a big impact for some...
The White House is extending the pause on student-loan payments until August 31st–an extraordinary development. By the time this pause ends in September, millions of student borrowers will have been relieved from making payments on their student loans for almost...
Biden has extended the student loan payment pause to August 31, 2022. He also promised additional flexibilities and support for borrowers, but stopped short of committing to broad student loan forgiveness.
There are increasing signs that Biden is likely to extend the student loan payment pause again. Here’s where things stand.
