President Joe Biden said Thursday he’s considering canceling “some” outstanding federal student loan debt, but ruled out a proposal by some congressional Democrats to cancel $50,000 in debt for each borrower. “I am not considering $50,000 in debt reduction, but I’m in the process of taking a hard look at whether there will be debt…
Biden Says He Won’t Cancel $50,000 per Borrower in Student Debt, Promises Plan in Coming Weeks
Senate Republicans Push Bill to Ban Biden From Canceling Student Debt
As President Joe Biden signals more actions toward federal student loan debt cancellation, a group of Republican Senators is pushing a bill aimed at preventing him from doing that. The yet-to-be-numbered bill is sponsored by Senate Minority Whip John Thune (R-S.D.), alongside Sens. Richard Burr (R-N.C.), Mike Braun (R-Ind.), Bill Cassidy (R-La.), and Roger Marshall…
Biden Admin to Change Student Loan Programs, Cancel Debt for 40,000 Borrowers
New changes to two federal student loan programs will immediately wipe out debts for 40,000 borrowers and bring 3.6 million closer to relief, the Education Department said Tuesday. The changes will “fix long-standing failures” in the Public Service Loan Forgiveness (PSLF) and income-driven repayment (IDR) programs, department officials said. Once the changes are implemented, 40,000…
The Unforgivable Student Loan Forgiveness Fraud
Commentary It’s an election year, and that means two things. More volatility in the stock market … and more giveaway promises from politicians. A recent headline in The Wall Street Journal mentioned President Joe Biden’s promise to forgive student debt had stalled. I’d expect that discussion to regain some legs going into the coming election….
How Navient’s $1.7 Billion Student Loan Cancellation Impacts You
One of the largest U.S. student loan collection companies will be canceling hundreds of thousands of loans and paying restitution to a number of borrowers as part of a $1.85-billion settlement announced last week. Navient Corp has agreed to a settlement agreement in a lawsuit brought by several state attorneys general that the company’s predecessor Sally Mae…
Navient Agrees to $1.7 Billion Student Loan Cancellations to Settle With States
Student loan giant Navient will cancel $1.7 billion in debts owed by approximately 66,000 borrowers as part of the settlement the company reached Thursday with a coalition of 39 states attorneys general. One of the largest providers of student loan services, Navient in recent years had faced allegations of questionable practices. In 2019, an audit…
NTD Evening News Full Broadcast (Dec. 22)
The White House and industry leaders say shipping companies are moving goods faster ahead of the holidays, President Joe Biden extends the pause on federal student loan repayment, and the FDA authorizes the Pfizer COVID-19 pill for emergency use.
Biden Administration Mulling an Extension of Student Loan Payment Pause
President Joe Biden’s administration is considering an extension of a pause on student loan payments, with an announcement expected later this week. Interest payments on federal student loans were paused by the Trump administration in March 2020 due to the COVID-19 pandemic. The Biden administration extended the pause but as of now, people will see…
Biden Administration Extends Student Loan Payment Pause
President Joe Biden’s administration on Wednesday extended the pause on student loan payments. The pause was initially announced during the Trump administration in March 2020 due to the COVID-19 pandemic. The Biden administration extended it twice but was poised to let the pause end on Jan. 31, 2022. Even though the economy has recovered strongly…
White House Says Student Loan Payments to Resume in February
December 15, 2021
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Business & Economyeconomic policieseconomyEducation & FamilyExecutive BranchJen PsakiJoe BidenPoliticsstudent loanUSUS News
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White House press secretary Jen Psaki confirmed to reporters the Biden administration will not extend the pause on student loan payments. Borrower balances were frozen by the Trump administration nearly two years ago with the passage of the CARES Act in March 2020. Since then, interest has stopped adding up and collections on defaulted debt…
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