Sorted by date Results 1 - 6 of 6
WASHINGTON — Following the Supreme Court’s summer ruling against 40 million federal student loan borrowers who would have qualified for debt relief, the Biden administration crafted a year-long delay in repayments. The policy, known as an on-ramp, is set to begin next month. Additionally, hours after the Supreme Court’s decision, the Department of Education unveiled a new repayment plan for those with federal student loans, known as Saving on a Valuable Education, or SAVE. The new income-driven repayment plan calculates payments based on a bor...
WASHINGTON — The Department of Education and the White House announced Friday that more than 800,000 federal student loan borrowers will have their remaining debt wiped out. The $39 billion in debt relief will come through fixes to mismanagement of the agency’s income-driven repayment plans. Many long-time borrowers, including those who had been making payments for 20 years or more, were denied relief they were eligible for under the repayment plans. Qualified payments that were made were not accounted for. “For far too long, borrowers fell...
WASHINGTON — The Department of Education announced last month it is extending the pandemic-era pause on federal student loan repayments until June 30 while legal challenges to the administration’s student debt relief program are fought over in the courts. The agency said if the student debt relief program has not been put in place by June 30, and if litigation is still tied up in the courts, student loan payments will begin 60 days after that. “Payments will resume 60 days after the Department is permitted to implement the program or the litig...
WASHINGTON — A federal appeals court on Monday issued a nationwide injunction indefinitely blocking the Biden administration’s student debt relief program in response to a challenge by six GOP-led states. The unanimous ruling by the 8th Circuit Court of Appeals in St. Louis came after the six states — Nebraska, Missouri, Arkansas, Iowa, Kansas and South Carolina — argued that the loan relief program threatens those states’ future tax revenues and that the plan by the Biden administration overrode congressional authority. “The injunction...
WASHINGTON — The Centers for Disease Control and Prevention late Thursday signed off on the approval from the agency’s independent vaccine advisers that recommended an updated coronavirus vaccine booster this fall. The CDC recommended boosters from Pfizer-BioNTech for those who are 12 years old and older and from Moderna for those who are 18 and older. These are known as “bivalent” vaccines because they are formulated to protect against the original coronavirus strain as well as the omicron variant, which is highly contagious. “Updated COVID-19...
WASHINGTON — President Joe Biden announced Wednesday that he will cancel up to $20,000 in federal student loan debt for Pell Grant borrowers and up to $10,000 for all other borrowers with an income of less than $125,000 for an individual and $250,000 for a household. Biden also announced his administration is extending a pause on student loan repayments until Dec. 31. The decision comes one week before the expiration of a pause of student loan repayments put in place at the beginning of the coronavirus pandemic. “Here’s the deal, the cost... Full story
