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…
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Education 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…
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Department 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…
Read MoreU.S. Forgives 40,000 Student Loans
Aid provided to 3.6 million more. The Department of Education has canceled student loan debt for 40,000 people. In addition, the department has offered credits to help another…
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President Extends Payment Pause on Student Debt
Resumption of payments moved from May 1 to August 31. President Joe Biden announced Wednesday the extension of the repayment freeze on federally held student loans through August…
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House Bill Supports 401(k) Plans
Legislation raises contribution limits for older workers. Under a bipartisan bill passed in the House, Americans could invest more in their 401(k) plans and sit on those nest…
Read MoreEducation Department Expands College Debt Cancellation
100,000 more people are now eligible. The Department of Education announced this month that 100,000 additional people are now eligible for student loan debt cancellation. Changes made to…
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