By Tyler Pager, Danielle Douglas-Gabriel and Jeff Stein, Washington Post White House officials are currently planning to cancel $10,000 in student debt per borrower, after months of internal deliberations over how to structure loan forgiveness for tens of millions of Americans, three people with knowledge of the matter said. President
New York City, NY USA February 28, 2022. Mayor Adams rings the opening bell at the New York Stock Exchange on the last day of Black History Month. (Shutterstock) NEW YORK – New York City Mayor Eric Adams today announced an agreement with Berkeley College that will deliver $20 million in debt relief
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
By Kathryn Pomroy, Fox Business As a rule, borrowers must pay taxes if a lender forgives, cancels or discharges a debt for less than the amount owed. That money is considered ordinary income for tax purposes. Yet, early in December, Senate Majority Leader Chuck Schumer urged President Joe Biden to
