White House announces new student debt relief plan after initial plan is blocked by US Supreme Court
INSIDE HIGHER ED — The 6-to-3 decision stops the Biden administration from moving forward with plans to forgive up to $20,000 in student loans for eligible Americans, but the administration announced new steps to aid borrowers.
Read More about White House announces new student debt relief plan after initial plan is blocked by US Supreme CourtMany student loan borrowers will face challenges once payments resume
HIGHER ED DIVE — Both the Trump and Biden administrations have extended the pandemic-era freeze on student loan repayments. But in recent months, Republicans criticized plans to continue the pause, particularly as COVID-19 restrictions waned.
Read More about Many student loan borrowers will face challenges once payments resumeHow to prepare for federal student loan payments restarting
CNBC — Borrowers may be down to their last few months without a student loan payment. The Supreme Court could announce its decision on the Biden administration’s sweeping student loan forgiveness plan any day, and the U.S. Department of Education has braced borrowers to be ready for the bills to resume 60 days after that or by the…
Read More about How to prepare for federal student loan payments restartingUS Representatives discuss concerns with White House student loan policies
HIGHER ED DIVE — Policymakers across the political spectrum have expressed a desire to rework the federal student loan program, whose portfolio has ballooned to more than $1.7 trillion as college costs soared. However, they deviate on party lines on the best way to accomplish this.
Read More about US Representatives discuss concerns with White House student loan policiesNotre Dame Law Loan Repayment Assistance Program assists students pursuing careers in public service
NOTRE DAME LAW — Emma Hildebrand J.D. said ND Law’s Loan Repayment Assistance Program (LRAP) enabled her to pursue a career in public service without having to worry about the burden of student loan debt. Her and students like her, now have the opportunity to seek public interest careers with the support of the LRAP…
Read More about Notre Dame Law Loan Repayment Assistance Program assists students pursuing careers in public serviceHow funding issues for the US Department of Education could affect student loan repayments
THE WASHINGTON POST — After Congress refused to give more money to the federal student aid office last year, higher education experts warned of potential disruption to efforts by the Biden administration and lawmakers aiming to help student loan borrowers and others paying for college. Now experts say those worries are coming to pass.
Read More about How funding issues for the US Department of Education could affect student loan repaymentsHow higher interest rates for federal loans could affect students
USA TODAY — College students who plan to take out federal loans to cover their 2023-24 academic year will see those rates edge higher on July 1. The Federal Reserve boosted short-term interest rates on May 3, the 10th time since the Fed began fighting inflation with rate hikes back in March 2022.
Read More about How higher interest rates for federal loans could affect studentsVideo: Bill proposed in Maine would offer student loan relief for law graduates taking on indigent legal cases
NEWS CENTER MAINE — Sen. Matt Pouliot, R-Kennebec, is proposing a student loan forgiveness bill to get more students taking indigent legal cases.
Read More about Video: Bill proposed in Maine would offer student loan relief for law graduates taking on indigent legal casesTwo thirds of student loan debt is owed by women
USA TODAY — Americans now hold $1.7 trillion in student loan debt. Nearly two-thirds of that money – at least $929 billion – is owed by women. As borrowers await the Supreme Court’s decision on a plan to provide mass student debt forgiveness, USA TODAY examined what’s behind the gender imbalances in the amount that borrowers take out and in their ability…
Read More about Two thirds of student loan debt is owed by womenVideo: New York credit counselors offer advice on student debt repayment
SPECTRUM NEWS — As the Biden administration’s student loan forgiveness program remains in limbo, debt counselors are offering advice for managing debt. Noelle Carter, president and CEO of Parachute Credit Counseling (formerly Consumer Credit Counseling), said for as long as loan payments remain in forbearance, wait it out. Pay down other debts in the meantime. “I think…
Read More about Video: New York credit counselors offer advice on student debt repayment