Education secretary announces extension to provide relief from uncertainty as loan forgiveness is litigated. On Tuesday, the president’s administration extended the federal student loan repayment pause through June…
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Student Loan Forgiveness Ruled Unconstitutional
A federal judge determines the president’s plan violates the Constitution’s separation of powers. President Biden’s administration was sued by two Americans, with the support of a small business…
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National Debt Tops $31 Trillion for First Time
Government spending is identified as the cause. The Treasury Department reported America’s gross national debt has eclipsed $31 trillion for the first time, a financial milestone arriving just…
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Senator Introduces “Make the Universities Pay Act”
Proposes 50% of student loan defaults to fall on college. Senator Josh Hawley proposed new legislation on Wednesday called “Make the Universities Pay Act” that intends to hold…
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President Announces Major Student Loan Forgiveness
Benefits accrue to tens of millions of Americans. President Biden is taking action Wednesday to forgive $10,000 or more in federal student loan debt, a move that would…
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Education Secretary Cancels Federal Loans for ITT Tech
He states the defunct for-profit college misled students since 2005. The Education Department announced last week that all federal student loans used to attend ITT Technical Institute anytime…
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White House Seeks Ideas on Student Loan Relief
The pandemic payment and interest pause faces an August 31 deadline. The White House held a virtual meeting Thursday with student debt activists and advocacy groups, the latest…
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Household Debt Tops $16 Trillion for First Time
Credit card balances grow to their highest level in 20 years. The New York Federal Reserve reported that household debt climbed past $16 trillion in the second quarter…
Read MoreEducation Department Underestimated Cost of Student Loan Program
The problem was reportedly due to flawed assumptions. A Government Accountability Office report shows the Department of Education underestimated the cost of the federal student loan program by…
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CBO Concerned About Increasing Deficit
Presidential executive actions are contributing to the problem. A letter from the Congressional Budget Office (CBO) in response to an inquiry by a congressman from Missouri confirms that…
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