The Department of Education is planning to aid millions of borrowers with student loan forgiveness and reform.
As it stands, if borrowers make the required payments for 20 to 25 years they are eligible for forgiveness.
To address these issues, the Education Department is revising its income-driven repayment program, which will take a look at the use of forbearance. The use of forbearance has garnered criticism for driving borrowers deeper into debt while their loans build interest as the practice allows them to pause payments.
“Between now and August 31, it’s either going to be extended again or we’re going to make a decision, as Ron [Klain] referenced, about canceling student debt,” said Jen Psaki, White House press secretary, had said about President Joe Biden canceling student loans, Business InsiderIn addition, Sen. Chuck Schumer also said progress is being made in student loan-related relief, according to
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Biden's latest student debt move will bring 3.6 million borrowers closer to loan forgivenessThe Department of Education is making more changes to the federal student loan system that will help bring millions of borrowers -- some of whom may have previously been in forbearance -- closer to receiving debt forgiveness.
Les mer »
Biden's latest student debt move will bring 3.6 million borrowers closer to loan forgivenessThe Department of Education is making more changes to the federal student loan system that will help bring millions of borrowers -- some of whom may have previously been in forbearance -- closer to receiving debt forgiveness.
Les mer »
Biden's latest student debt move will bring 3.6 million borrowers closer to loan forgivenessThe Department of Education is making more changes to the federal student loan system that will help bring millions of borrowers -- some of whom may have previously been in forbearance -- closer to receiving debt forgiveness.
Les mer »
Biden's latest student debt move will bring 3.6 million borrowers closer to loan forgivenessThe Department of Education is making more changes to the federal student loan system that will help bring millions of borrowers -- some of whom may have previously been in forbearance -- closer to receiving debt forgiveness.
Les mer »
'Stackable credentials' could be future of higher education in ColoradoHigher education leaders and lawmakers are pushing for more 'stackable credentials,' or pathways for Colorado students to get education and training for a job.
Les mer »
Lawmakers push for overhaul of 'broken' student loan programThe White House is coming under increased pressure to fix a federal program which some say has failed to help millions of low-income student borrowers pay back their loans as intended.
Les mer »