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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Expansion of Student Loan Relief Programs Proposed
The education secretary announces inclusions for increased debt forgiveness. This week, the Department of Education released a proposal to “expand and improve” student loan discharge programs under the…
Read MoreEducation Department to Cancel All Corinthian Colleges Loans
Determines over a half million students preyed upon by Corinthians Colleges. On Wednesday, the Department of Education announced that they will fully cancel all remaining federal student loans…
Read MoreDepartment of Education Addresses Student Loans
Lists steps to correct student loans’ “longstanding failures.” The Department of Education recently released multiple action steps it will be taking to address the issue of America’s student…
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