For Canada’s post-secondary graduates, the academic stress of school is often replaced by a whole new headache: years’ worth of student loans. Deciding how and when to prioritize paying off that debt can make an already worrisome task that much more difficult, but experts say it shouldn’t come at the cost of saving for the…
Aussie Students Dive Into Pockets to Beat HECS Interest Rise
University students raced to fork out more money to pay off their student debts to try to beat a deadline for a rise in Higher Education Contribution Scheme (HECS) interest. More than three million Australians have been slugged with a 7.1 percent rise in their HECS debts after indexation was applied on June 1. Education…
ANALYSIS: Debt Ceiling Deal Unfreezes Student Loan Repayments, Here’s What Borrowers Should Know
May 31, 2023
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Roughly 40 million borrowers of federal student loans will soon need to start paying their bills again, under a deal reached by President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) to bring temporary relief to the recurring debt ceiling crisis. The 99-page-long legislative package (pdf), which McCarthy expects to pass a full vote in…
The US Has Approved $42 Billion in Loan Forgiveness for Public Service Workers. Here’s What to Know
The United States has approved more than $42 billion in federal student loan debt forgiveness for more than 615,000 borrowers in the past 18 months as part of a program aimed at getting more people to work in public service jobs, the U.S. Department of Education said this week. The Public Service Loan Forgiveness program…
‘Free’ University: A Socialist Fantasy
Commentary The Albanese Labor government is preparing to forge a new relationship with the university sector—the “Universities Accord.” An education commentator, Gavin Moodie, has argued that there is a tenuous relationship “between university staff and many of their managements that they regard as exploitative” and “between students and universities that they see as driven to maximise…
Another Lawsuit Filed Challenging Biden Admin’s Pause on Student Loan Repayment
The Biden administration has been hit with another lawsuit that contests its decision to renew its pause on repayment of federal student loans that Congress enacted as a pandemic-relief measure when former President Donald Trump was in the White House and which has been continued eight times without congressional approval, most recently on Nov. 22….
House Republicans Say Student Loan Forgiveness Will ‘Mortgage our Children’s Future’
The Biden administration’s plan to forgive student loans came under fire from Rep. Burgess Owens (R-Utah), who argued that the president’s plan will “mortgage our children’s future.” The congressman compared Democrat strategies to those of former Marxist leaders and called attention to the urgent need to reduce the costs of college tuition. Last August, President…
Student Debt Forgiveness Won’t Cure Higher Ed’s Disease
March 14, 2023
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Commentary On Feb. 28, the Supreme Court heard arguments on President Biden’s plan to extinguish an estimated $400 billion in student debt. Biden deserves credit for highlighting a debilitating federal program in desperate need of reform. His proposal, however, would make the problem far worse, not better. Any serious reform would force academic institutions to…
Capitol Report: Lawmakers React to Newly Released Jan. 6 Footage; 2 Americans Murdered in Mexico
March 7, 2023
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Newly released footage of Jan. 6 is making headlines. Lawmakers from both sides of the aisle are now responding to the release. President Joe Biden proposes to raise taxes on the wealthy to fund Medicare. How is the White House framing it, and why do Republicans say they won’t let Biden’s plan see the light…
Student Loan Lender SoFi Sues Biden Admin to End Payment Pause Extension
A major banking institution and federal student loan refinancing company has called on a federal court to end the Biden administration’s pause on student loan payments, arguing that the moratorium has no legal basis. San Francisco-based SoFi Bank and SoFi Lending Corp.—a student loan refinancing company—sued the Department of Education (DOE) on Friday, according to a complaint (pdf)…
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