Members phkrause Posted February 23 Author Members Share Posted February 23 Biden says too many Americans are saddled with school debt as he cancels federal loans for 153,000 CULVER CITY, Calif. (AP) — President Joe Biden said Wednesday that while a college degree was still a ticket to a better life, that ticket is often too expensive, as he announced he was canceling federal student loans for nearly 153,000 borrowers. https://apnews.com/article/biden-student-loan-forgiveness-2024-california-cc23ba93a733b583f3ee8963cdd02566? Biden unveils latest round of student loan cancellation to aid 153,000 borrowers President Joe Biden expanded his push to eliminate student loan debt Wednesday, saying during a speech the initiative is part of a campaign promise to address the “broken” system. https://floridaphoenix.com/2024/02/21/biden-unveils-latest-round-of-student-loan-cancellation-to-aid-153000-borrowers/? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted April 9 Author Members Share Posted April 9 What to know about Biden’s latest attempt at student loan cancellation President Joe Biden is hoping to deliver on a key campaign promise that he has so far failed to fulfill. On Monday, Biden detailed a proposal that’s been in the works for months after the Supreme Court rejected Biden’s first try at mass student loan cancellation, which would eliminate at least some debt for more than 30 million Americans – some potentially as soon as this fall. Read more. Why this matters: Biden has called the court’s decision a “mistake” but ordered the Education Department to craft a new plan using a different legal authority. The latest proposal is more targeted than his original plan, focusing on five categories of borrowers for whom student debt is a major obstacle. The widest-reaching provision aims to reset student loan balances for borrowers who have seen their debt grow because of unpaid interest. It would cancel up to $20,000 in interest for Americans who now owe more than they originally borrowed. All debt would also be canceled for borrowers repaying undergraduate loans for 20 years or more, or 25 years for those with graduate school debt. RELATED COVERAGE ➤ Biden promotes ‘life-changing’ student loan relief in Wisconsin as he rallies younger voters An appeals court blocks a debt relief plan for students who say they were misled by colleges Biden could miss the deadline for the November ballot in Ohio, the state’s election office says Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted May 22 Author Members Share Posted May 22 Biden administration canceling student loans for another 160,000 borrowers WASHINGTON (AP) — The Biden administration is canceling student loans for another 160,000 borrowers through a combination of existing programs. https://apnews.com/article/biden-student-loan-cancellation-debt-forgiveness-60ffeaec17737d6317b4aee188893cc4? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted June 27 Author Members Share Posted June 27 Federal rulings out of Kansas, Missouri put Biden student-loan forgiveness on hold Federal judges in Kansas and Missouri have blocked full implementation of a student-loan forgiveness program proposed by the Biden administration that was set to launch July 1. https://floridaphoenix.com/2024/06/25/federal-rulings-out-of-kansas-missouri-put-biden-student-loan-forgiveness-on-hold/? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted July 20 Author Members Share Posted July 20 Federal appeals court blocks remainder of Biden’s student debt relief plan WASHINGTON (AP) — A federal appeals court blocked the implementation of the Biden administration’s student debt relief plan, which would have lowered monthly payments for millions of borrowers. https://apnews.com/article/student-loans-biden-debt-relief-appeals-court-abd06890b12073bd39a08deef83a9158? Student loans President Biden announced another round of student loan debt forgiveness today, totaling $1.2 billion for 35,000 public-sector workers like teachers, nurses and firefighters. The borrowers are eligible for student debt cancellation after making 10 years of monthly payments while working in a qualifying public-sector job for a nonprofit or the government. The Biden administration is eager to show how it has canceled more student loan debt than any prior administration — now totaling more than $168 billion for nearly 4.8 million Americans. But its signature, one-time student loan forgiveness program remains in legal limbo. The Supreme Court is expected to decide soon whether to block part of the SAVE plan while the matter is fully litigated. Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted August 29 Author Members Share Posted August 29 Student loans The Supreme Court declined on Wednesday to lift a sweeping block on President Biden's student loan repayment plan that aims to slash monthly payments and accelerate the path to loan forgiveness. The high court turned down a request from the Biden administration to put the plan back in play after lower courts blocked it this summer in a legal challenge brought by GOP-led states. Wednesday's order has no immediate impact on the 8 million borrowers currently enrolled in the plan, known as SAVE (Saving on a Valuable Education), which was implemented nearly a year ago. But the fate of the plan — which would cost an estimated $276 billion — remains uncertain as courts consider ongoing legal challenges. Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted Thursday at 05:40 PM Author Members Share Posted Thursday at 05:40 PM Student loans A group of seven Republican-led states filed a new lawsuit Tuesday seeking to block a new student loan relief plan that the Biden administration planned to start rolling out this fall. The lawsuit marks yet another legal challenge to President Biden's student loan policies and could potentially tie up his latest effort to deliver debt relief before the November election. Currently, Biden's student loan repayment plan, known as SAVE, is blocked. The president's sweeping, one-time student loan forgiveness program was knocked down by the Supreme Court last year. Still, the Biden administration has canceled more student loan debt than under any other president — mostly by using existing programs. Data shows nearly 4.8 million people have seen their federal student debt canceled under Biden, totaling $169 billion. Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
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