Educational News

Source: site The U.S. Department of Education is not ready for student loan forgiveness — a top lawmaker says — and the results could be a disaster for student loan borrowers. Here’s what you need to know — and what it means for your student…

Source: site The Biden administration announced on Wednesday that the Education Department has approved billions of dollars in new student loan forgiveness for borrowers defrauded by Corinthian Colleges. The Education Department characterized the action as “the largest single loan discharge the Department has…

Source: site Two U.S. senators have proposed major changes to student loan forgiveness. Here’s what you need to know — and what it means for your student loans. Student Loans U.S. Senators Sheldon Whitehouse (D-RI) and Jeff Merkley (D-OR) introduced new legislation — the Simplifying and…

Source: site Chalk up another move in the right direction for student loans. In hopes of providing federal student loan borrowers with a 21st-century customer experience, the Department of Education’s (DOE) Federal Student Aid (FSA) office has announced that it is building out a…

Source: site President Joe Biden is preparing to announce his plan to forgive up to $10,000 of student debt for those who qualify based on their income, The Washington Post reported, citing three sources. White House staffers have been preparing drafts…

Source: site Senate Majority Leader Chuck Schumer (D-NY), Sen. Elizabeth Warren (D-MA), and Sen. Raphael Warnock (D-GA) pressed President Joe Biden during a White House meeting on Wednesday to quickly sign off on forgiving student loan debt, according to a new Bloomberg report. The…

Source: site Navient Corp. and student loan servicer Navient Solutions agreed to a settlement that will result in the cancelation of more than $3.5 million in student debt for New Hampshire student loan borrowers, according to the state’s Department of Justice.…

Source: site Illinois’ top financial official has banned local governments from using a state program to collect debt from students who have been ticketed for truancy, eliminating a burden for families struggling to pay steep fines. A number of school districts…

Source: site Borrowing federal student loans is about to get more expensive. Federal student loan interest rates are tied to the 10-year Treasury note and determined using a formula set by federal law. After Wednesday’s 10-year Treasury note auction, interest rates…

Source: site Colleges in New York State are now barred from withholding transcripts as a means of collecting student debt. Democratic governor Kathy Hochul signed legislation Wednesday prohibiting the practice known as “transcript ransoming,” calling it in a statement “an unfair, predatory practice…