By Leslie A. Pappas, Bloomberg Law A recent Second Circuit decision is adding fuel to a growing momentum in the courts to allow borrowers to eliminate certain types of private lender-issued student loans in bankruptcy. The U.S. Court of Appeals for the Second Circuit, siding with a student debtor, July
By Zack Friedman, Forbes Biden may extend student loan relief beyond September 30, but there’s one major dilemma. Here’s what you need to know. There are two parallel paths for your student loans happening right now. The first — student loan cancellation — is about the possibility of wide-scale student
By Pamela Foohey, Dalié Jiménez and Christopher K. Odinet, The Hill Relief programs created during the COVID-19 pandemic provided many Americans with pauses on their largest debts, particularly mortgages and student loans. Other people came to agreements with auto loan and credit card lenders about payment. This relief helped many
By Annie Nova, CNBC It’s now been more than a year that borrowers haven’t had to make a payment on their federal student loans. That break is currently scheduled to end in September. However, U.S. Education Secretary Miguel Cardona told the Senate Appropriations Committee this month that he was involved
By Ayelet Sheffey, Business Insider As one of his first actions as Education Secretary, Miguel Cardona cancelled student debt for about 72,000 borrowers defrauded by for-profit schools. On Wednesday, 18,000 more got student-debt relief. The Education Department announced in a press release that it had approved 18,000 borrower defense to
By Ellen Chang, Fox Business The Federal Reserve kept short-term interest rates at nearly zero in 2020 in a response to the coronavirus pandemic and to help stimulate the economy. The low-interest rates were intended to help Americans who were struggling because they lost their jobs. The Federal Reserve generally
U.S. President Joe Biden speaks from the Treaty Room in the White House about the withdrawal of U.S. troops from Afghanistan. – Washington, DC – April 14, 2021 (Shutterstock) By Oscar Gonzalez, CNET President Joe Biden has yet to lay out any plans on reducing the roughly $1.7 trillion of
By Adam S. Minsky, Forbes A settlement agreement with a private student loan debt buyer following the collapse of a for-profit college chain will result in $2.6 million in student loan forgiveness for former students. Pennsylvania Attorney General Josh Shapiro announced the agreement yesterday. The settlement agreement is with Elevation
By Katie Lobosco, CNN Washington (CNN) – The Biden administration has reversed a controversial Trump-era policy that will lead to the cancellation of roughly $1 billion in student debt for borrowers who were defrauded by their colleges. The change will deliver full loan forgiveness to 73,000 people who were deemed
Senator James Sanders Jr. last week saw important pieces of his legislation pass the senate. One bill (S664/A5601) related to student debt would require standard financial aid award letters to include the estimated cost of repayment of all outstanding loans including expected monthly payments. Debt from student loans has continued
