Beyond its financial implications, the plan carries significant political weight for President Biden, who championed the cause of tackling student loan debt as a key promise during his 2020 campaign, aiming to galvanize younger voters. However, Biden’s debt relief plan faces a formidable hurdle in...
Since Biden took office, he has forgiven debt for more than 5 million federal student loan borrowers, totaling $183.6 billion in relief. In 2023, the Supreme Court blocked the president's plan to deliver wide-scale student loan forgiveness for tens of millions of borrowers. But the Biden admi...
Biden's decision to move ahead with $10,000 in student debt cancellation for borrowers who earn under $125,000 will cost the federal government around $244 billion, according to higher education expert Mark Kantrowitz. The $20,000 in relief for Pell Grant recipients may add aro...
President Joe Bidenannounced Wednesdaythat the administration would cancel $10,000 in federal student loans for most borrowers, fulfilling his campaign promise to bring student loan debt relief to millions of Americans. The planis limited to borrowers making less than $125,000 per year for individua...
MINNEAPOLIS (AP) — President Joe Biden's student loan forgiveness plan could lift crushing debt burdens from millions of borrowers, but the tax man may demand a cut of the relief in some states.
A new poll shows relatively few Americans say they’re fans of President Joe Biden’s work on the issue of student loans.
PresidentJoe Bidenhopes to startforgiving the student loansof millions of Americans before the November presidential election. But first his administration will need to read the public comments submitted by people on his debt relief proposalpublishedin the Federal Register in April. ...
President Biden has proposed relief for student loan borrowers. (iStock) The student loan crisis was a hot topic during the 2020 presidential campaign, and many Democratic politicians are now pushing President Biden to cancel a portion of federal student loan debt for Americans. In response...
And, while the Biden administration insists its debt-relief plan is intended to ease burdens for those who are financially vulnerable and at-risk, the nonpartisan Penn Wharton team, which does independent analysis of the fiscal impact of public policy, says that many of the beneficiaries ...
After the Covid-era pause on federal student loan payments expired in September 2023, the Biden administration offered borrowers a 12-month"on-ramp" to repayment. During that time, they were shielded from most of the consequences of falling behind on their payments. The relief period expired on...