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Bill Cassidy — - 5 — - 5 Virginia Foxx - 4 Sen - 4 Joe Biden's - 3 servicers - 3 Bob Menendez - 3 Cassidy - 3
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6 mentions found


☆ 260,000 student-loan borrowers who were approved for debt relief might be pushed back into repayment anyway, a legacy advocacy group says
  + stars: | 2023-09-23 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +5 min
Student-loan borrowers who were part of a 2022 settlement are still waiting for their relief to be processed. A legal advocacy group said a student-loan company is not carrying out the settlement terms correctly. It said some borrowers within the settlement were told they have to resume payments in October. The group said that forcing borrowers with pending borrower defense claims back into repayment "violates the court-approved Settlement Agreement and applicable regulations." The federal pause on student-loan payment ended on September 1 when interest began accruing again on borrowers' balances.
Persons: They're, Cardona —, Donald Trump's, Joe Biden's, it's, MOHELA, Scott Giles, servicers, Cardona, Virginia Foxx, Sen, Bill Cassidy —, —, New Jersey Sen, Bob Menendez, Secretary Miguel Cardona Organizations: Service, Education Department, Donald Trump's Education Department, Department, Consumer Financial, Bureau, Democratic, New, Secretary, Public, The Education Department Locations: Wall, Silicon, New York, Sweet v, New Jersey
☆ There's no proof that student-loan companies are prepared to bring millions of borrowers back into repayment in under 2 weeks, 2 top Republican lawmakers say
  + stars: | 2023-09-20 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +4 min
Rep. Virginia Foxx and Sen. Bill Cassidy asked the GAO to investigate the student-loan payment resumption. They said they're concerned loan servicers are not adequately prepared to facilitate repayment. The student-loan payment pause officially ended on September 1 when interest began accruing again on federal borrowers' balances, and bills will start becoming due next month. Additionally, Cassidy and Foxx said that it is "unclear whether borrowers will begin repayments when billing statements resume. In other cases, there will be borrowers who will take some time to work student loans back into their household budgets."
Persons: Virginia Foxx, Sen, Bill Cassidy, they're, Bill Cassidy —, —, Foxx, Cassidy, servicers, Education James Kvaal, Kvaal Organizations: Service, Office, Education, Education Department, GAO, Public Locations: Wall, Silicon
☆ Biden's student-debt relief plans will once again face GOP challenges when Congress returns this fall
  + stars: | 2023-08-23 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +4 min
Biden formally launched the new income-driven repayment plan, known as the SAVE plan. "Just like Biden's student debt transfer scheme, this IDR rule is deeply unfair to the 87 percent of Americans who currently have no student loans and will now have to foot the bill for someone else's debt." Spokespeople for both lawmakers confirmed to Insider that they will introduce bills in the House and Senate to overturn the SAVE plan. Massachusetts Sen. Elizabeth Warren wrote on X, formerly Twitter, on Tuesday that "Biden's SAVE plan helps Americans with student debt by capping interest growth and lowering monthly payments. In addition to repayment reforms for borrowers, the Education Department is also in the process of implementing broad debt relief again using the Higher Education Act of 1965.
Persons: Biden, Foxx, Cassidy, Joe Biden's, Virginia Foxx, Sen, Bill Cassidy —, —, Massachusetts Sen, Elizabeth Warren Organizations: Service, Education Department, Politico, GOP, Senate, Higher Locations: Wall, Silicon, Massachusetts
☆ Federal student-loan balances will start growing again in one month when interest returns
  + stars: | 2023-08-01 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +4 min
In October, student-loan borrowers will start making payments again. The Education Department announced a number of steps to ease the transition back into repayment. In March 2020, former President Donald Trump first implemented the student-loan payment pause, with waived interest, to give millions of federal borrowers financial relief during the pandemic. An Education Department spokesperson confirmed in June that there is no leeway with that provision. "Student loan interest will resume starting on September 1, 2023, and payments will be due starting in October," a department spokesperson said.
Persons: Donald Trump, Joe Biden, Biden, —, Massachusetts Sen, Elizabeth Warren, New Jersey Sen, Bob Menendez, servicers, Virginia Foxx, Sen, Bill Cassidy —, doesn't, Cassidy, we'll, Miguel Cardona Organizations: The Education Department, Service, Federal, An Education Department, Education Department, Higher, SAVE, Democratic, House, Department Locations: Wall, Silicon, Massachusetts, New Jersey
☆ The Senate just passed a bill to block student-loan forgiveness and immediately end the payment pause
  + stars: | 2023-06-01 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +4 min
The Senate just passed a bill to overturn student-debt relief and end the payment pause. On Thursday, the Senate passed a bill — first introduced in March — to overturn Biden's plan to cancel up to $20,000 in student debt for federal borrowers making under $125,000 a year by a vote of 52-46. Chuck Grassley and Bill Cassidy — sponsors of the bill — wrote an opinion piece in Fox News urging their colleagues in the Senate to pass the legislation to overturn student-loan forgiveness. Before the vote, Senate Majority Leader Chuck Schumer wrote on Twitter that "the Senate GOP is pushing a terrible measure to end the pause on student loan payments and overturn @POTUS's student loan cancellation program. But to overturn his landmark student debt relief program just to score political points?
Persons: Biden, —, Joe Biden's, Democratic Sens, Joe Manchin, Jon Tester, Independent Sen, Kyrsten Sinema, Chuck Grassley, Bill Cassidy —, Chuck Schumer, Massachusetts Sen, Elizabeth Warren, New Jersey Democratic Sen, Bob Menendez Organizations: Service, Democratic, Independent, Republicans, GOP, Fox News, Senate, Twitter, House Republicans, New, New Jersey Democratic Locations: Massachusetts, New Jersey
☆ 69 Republican lawmakers call for Biden's student-loan repayment and forgiveness proposals to be 'rescinded,' blasting them as 'blatantly illegal' and 'a smack in the face of taxpayers'
  + stars: | 2023-02-13 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +4 min
69 GOP lawmakers urged Biden to withdraw his student-loan forgiveness and repayment proposals. They said his proposal to reform income-driven repayment plans is "blatantly illegal." This proposal is reckless, fiscally irresponsible, and blatantly illegal and, as such, it should be rescinded." "Under current IDR plans, most borrowers can expect to repay some or all their debt," the analysis said. "This proposal is reckless, illegal, and will saddle hardworking Americans and future generations with unsustainable debt."
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