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 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
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
By Adam S. Minsky, Esq., Forbes Democratic Senators unveiled a sweeping bankruptcy bill this week that would dramatically reform the United States bankruptcy system, and make it easier for struggling Americans to discharge student loans and medical debt through bankruptcy. The Medical Bankruptcy Fairness Act of 2021, proposed in response
By Zack Friedman, Forbes The new stimulus package says this about student loans and student loan cancellation. Here’s what you need to know — and what it means for you. Student Loans The new, $1.9 trillion stimulus package that President Joe Biden proposed doesn’t include any student loan cancellation. The stimulus plan
US President Joe Biden During Meeting at the Black Economic Summit – Charlotte, NC – September 23, 2020 (Shutterstock) By Kate Smith, CBS News President-elect Joe Biden will extend the nearly year-long pause on federal student loan payments on “day one,” the first concrete promise the incoming administration has made
Joe Biden, President of USA – Washington, USA 10 4 2020 By Wesley Whistle, Forbes Congress has finally passed the latest stimulus and economic relief package, but one group of Americans was left out of the deal: student borrowers. Payments on federally-held student loans have been suspended—along with interest accrual—since
