Tag: Student loan forgiveness

News Roundup

New U.S. Department of Education Committee to Work on Student Loan Forgiveness

The U.S. Department of Education will establish a committee to meet virtually starting in October and rewrite the regulations for Public Service Loan forgiveness, income-contingent repayment plans, and borrower defense to repayment, as well as other areas. Such regulations will assist borrowers in managing repayment or receiving a discharge or forgiveness of their federal student […]

August 6, 2021

Students

Ed Department Urged to Help Erase Debt of Borrowers With Disabilities

Two letters sent to the U.S. Department of Education Tuesday urge Education Secretary Betsy DeVos to help erase the student debt owed by borrowers with disabilities, reported NPR. While these borrowers qualify to have their federal student loans erased, the process to do so is cumbersome, said one letter that was signed by more than […]

March 4, 2020

Students

Survey Reveals How Far Americans Would Go To Erase Their Student Debt

With the levels of student debt on the rise, LendEDU recently conducted a survey to see just how far Americans would go to erase their debt. As of now, the average student loan borrower carries a hefty $28,565 in debt on their shoulders, and, for many, it won’t be paid off within a decade. Keeping […]

January 14, 2020

News Roundup

Department of Education Will Cancel Loans For Art Institute of Colorado and Illinois Institute of Art Students

The Department of Education will cancel student loans and restore Pell grant eligibility for students who attended the Art Institute of Colorado or the Illinois Institute of Art between January 20, 2018 and December 31, 2018, U.S. Secretary of Education Betsy DeVos announced on Friday. It will also extend the closed school discharge lookback period […]

November 8, 2019

HBCUs

Scholars Critique White House Higher Ed Policies, 2020 Candidates’ Proposals

Considering unease on many campuses regarding the Trump administration’s higher education policies – and proposals about college accessibility and affordability by presidential candidates who would like to win the White House next year — some academicians say the 2020 elections present significant opportunities to address urgent issues facing postsecondary learning.

July 15, 2019

Students

Discharge, Reparations Part of Student Loan Debt Discussion

Cancellation and reparations, two topics that have not been at the forefront of discussion about the twin student loan debt and default crises, surfaced during an event Tuesday presented by the Bipartisan Policy Council, the Consumer Bankers Association and The Aspen Institute Financial Security Program.

May 14, 2019

Students

New Report Analyzes Impacts of Student Debt on Student Loan Borrowers

A new report by the organizations Summer and Student Debt Crisis called “Buried in Debt” investigated the impact of student debt on the daily lives of 7,095 student loan borrowers across the country. The 7,095 students who responded said they have an average of $87,500 in student loans to repay and earn an average annual […]

November 1, 2018

News Roundup

Court Rules Against DeVos in Loan Forgiveness Case

U.S. Education Secretary Betsy DeVos’ move to delay Obama-era protections for students defrauded by for-profit colleges has been dealt a setback by a federal judge who called her actions “arbitrary and capricious,” according to a CBS News report. In a lawsuit filed by Democratic attorneys general from 19 states and the District of Columbia and […]

September 14, 2018

Students

Rep. Velázquez Urges DeVos To Reverse Student Loan Proposal

U.S Representative Nydia M. Velázquez D-N.Y sent a letter to U.S. Secretary of the Department of Education Betsy DeVos this week urging her to reverse a proposal that would make it more difficult for students deceived by colleges and universities to receive loan relief. Velázquez wrote in the letter that in the state of New […]

August 29, 2018

Students

Betsy DeVos Proposes to Shorten Debt Relief for Defrauded Students

The U.S. Secretary of Education, Betsy DeVos, motioned Wednesday to limit Obama administration loan forgiveness rules for students deceived by for-profit institutions, requiring that student borrowers show they are in difficult financial situations or prove that their colleges negligently deceived them. The proposal, which is set to take effect next year, would “establish a federal […]

July 26, 2018

News Roundup

AP Sources: Education Dept. Could Scale Back Help on Loans

WASHINGTON — The Education Department is considering only partially forgiving federal loans for students defrauded by for-profit colleges, according to department officials, abandoning the Obama administration’s policy of erasing that debt. Under President Barack Obama, tens of thousands of students deceived by now-defunct for-profit schools had over $550 million in such loans canceled. But President […]

October 30, 2017

Students

Report: True Cost of Federal Student Loan Forgiveness $100B

The Government Accountability Office said that the federal student loans tied to income will have a true cost of more than $100 billion, more than the U.S. Department of Education’s projections.

December 1, 2016