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☆ More Gen Zers could ditch college this fall — and some schools are worried they might never fully recover
▼ + stars: | 2024-04-27 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

A college enrollment crisis is likely coming this fall. It's a result of complications with the FAFSA form, along with a lower supply of high school seniors. There's also a limited supply of high school seniors right now due to lower birth rates during the Great Recession. But the immediate enrollment shock will likely come this fall — and both students and colleges will feel the impact. AdvertisementAre you a recent high school graduate not going to college?

Persons: It's, —, aren't, Katharine Meyer, Gen Zers, MorraLee Keller, Keller, There's, Meyer, They're, they're, there's, Hodges University —, Zers Organizations: Service, Brown Center, Education, Brookings Institution, National Center for Education Statistics, Federal Student Aid, Education Department, National College, Hodges University Locations: Florida, New York, Texas

☆ FAFSA delays could have some students thinking about a gap year—3 factors to consider before you do
▼ + stars: | 2024-04-26 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +2 min

Many students take what's known as a gap year before attending college for a variety of reasons. While the practice is more common in the United Kingdom and other European countries, gap year interest is growing in the U.S., according to the nonprofit Gap Year Association. Others may take stock of their admission offerings and financial aid packages and decide they want to try their luck in the next application cycle. As many students and families anxiously await delayed financial aid offers due to hiccups in the Free Application for Federal Student Aid process, taking a gap year could help give some students more time to weigh their college decision. You also may be banned from applying to other colleges if your place is being held at one school.

Persons: Karen McCarthy, you've Organizations: Federal, National Association of Student Financial, CNBC Locations: United Kingdom, U.S

☆ Louisiana Will No Longer Require Students to Fill Out FAFSA to Graduate
▼ + stars: | 2024-04-26 | by ( Ann Carrns | ) www.nytimes.com time to read: +1 min

High school seniors are more likely to attend college if they complete the federal financial aid form known as the FAFSA, or Free Application for Federal Student Aid. But the state that was the first to require students to fill out the form to graduate, Louisiana, has reversed course and dropped the mandate, after state officials decided it was too intrusive. (The network prefers to call such practices “universal FAFSA” policies, rather than “mandatory,” because all states with the requirement allow students and their parents to opt out if they don’t want to fill out the form.) “We know FAFSA completion and enrollment are associated with each other,” Mr. DeBaun said. Filing the form allows students to get their share of federal grants.

Persons: ”, Bill DeBaun, Mr, DeBaun Organizations: Federal Student Aid, National College, Network Locations: Louisiana

☆ Federal Student Aid head Richard Cordray, tasked with FAFSA rollout, to step down
▼ + stars: | 2024-04-26 | by ( Katie Lobosco | ) edition.cnn.com time to read: +7 min

Washington CNN —The head of the Federal Student Aid office, which has faced criticism for the botched rollout of this year’s college financial aid form, will be stepping down. The announcement of Cordray’s departure comes as his office has been under fire for problems with a new version of the Free Application for Federal Student Aid, or FAFSA, released late last year. “If there was a financial aid director, or even a college president, that delayed financial aid on their campus for up to six months, the professional price that would be paid for that would be pretty steep,” Justin Draeger, president of the National Association of Student Financial Aid Administrators, told lawmakers. Cordray’s tenureAs the head of FSA, Cordray oversaw not only the FAFSA but also the entire $1.6 trillion federal student loan system. It also sued Navient, one of the biggest federal student loan servicers, for allegedly processing payments incorrectly.

Persons: Richard Cordray, Cordray, Justin Draeger, Virginia Foxx, Miguel Cardona, Cordray’s, Rich Cordray’s, ” Cardona, “, Rich, Obama, ” Cordray, Pell, Biden, Trump, Massachusetts Sen, Elizabeth Warren —, Navient, “ I’m, ” Warren Organizations: Washington CNN, Federal, Aid, CNN, Department of Education, Federal Student Aid, Education, Workforce, National Association of Student Financial, Republican Rep, Consumer Financial Protection Bureau, Democratic, National College, of Education, Public, Consumer Financial, Massachusetts, Corinthian Colleges Locations: North Carolina, Ohio

☆ Here's what to know before withdrawing funds from inherited individual retirement accounts
▼ + stars: | 2024-04-22 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

If you've inherited an individual retirement account since 2020, you could have a shorter timeline to withdraw the money, which can trigger tax consequences. But there are a few things to consider before emptying an inherited account, experts say. Under the Secure Act of 2019, so-called "non-eligible designated beneficiaries," have a 10-year window to deplete an inherited IRA. Non-eligible designated beneficiaries are heirs who aren't a spouse, minor child, disabled or chronically ill. Certain trusts may also fall into this category. They just want the money," said individual retirement account expert and certified public accountant Ed Slott.

Persons: you've, RMDs, Ed Slott Organizations: IRS, Finance

☆ Biden makes another push for tuition-free community college. Here's why it may work this time
▼ + stars: | 2024-04-21 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

When President Joe Biden unveiled the details of his Plan B for student loan forgiveness, he revealed that his hope to make some college free was not dead. "I also want to make community college tuition free so you don't need loans at all," Biden said after including free community college as part of his $7.3 trillion budget for fiscal 2025. "Student loan forgiveness is a Band-Aid," said Ryan Morgan, CEO of the Campaign for Free College Tuition. "Loan forgiveness is a snapshot in time in terms of a fix," Morgan said. Alternatively, free college appeals more broadly to those struggling in the face of rising college costs, rather than after the fact.

Persons: Joe Biden, Biden, Ryan Morgan, overstepping, Morgan Organizations: Free College, Finance, Harvard

☆ Opinion: Shaking off the Trump effect
▼ + stars: | 2024-04-21 | by ( Richard Galant | ) edition.cnn.com time to read: +19 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. CNN —“We are most deeply asleep at the switch,” wrote Annie Dillard, “when we fancy we control any switches at all. When the Senate voted to send new aid to Ukraine, Israel and Taiwan two months ago, House Speaker Mike Johnson took no action. With the help of Democrats, the House approved aid to Ukraine, Israel and Taiwan on Saturday. Writing for CNN Opinion, he emphasized that there are legal principles that require universities to prohibit expressions of antisemitism.

Persons: CNN —, ”, Annie Dillard, “, time’s, —, Mike Johnson, Donald Trump, Joe Biden, Trump, Biden, Sleepy Joe ”, Israel, Johnson, MAGA, Julian Zelizer, Walt Handelsman, Marjorie Taylor Greene’s, Kevin McCarthy’s, Clay Jones, Fareed Zakaria, Alejandro Mayorkas, “ Biden, ” Zakaria, Bill Clinton, ” Trump, Jack Ohman, Agency Donald Trump’s, dozed, Elliot Williams, Patrick T, Brown, …, ‘, ’, Attorney Alvin Bragg, ” Will, Jeffrey Abramson, ” “, Norm Eisen, Stormy Daniels, ” Eisen, Michael Cohen, Elie Honig, Frida Ghitis, Benjamin Netanyahu, ” Lisa Benson, GoComics.com Peter Bergen, Daniel R, DePetris, Dean Obeidallah, Susanne DeWitt, ” David Schizer, ” Schizer, Danielle Campoamor, Caitlin Clark, Simone Biles, Campoamor, Latika Bourke, John Howard, Justin J, Pearson, Winston Churchill, Holly Thomas, Boris Johnson, Rishi Sunak’s, It’s, ” Thomas, YouGov, ” Don’t, Drew Sheneman, Agency David M, Perry, Frankie de la, Angel Reese, Roy Schwartz, Joni Mitchell —, Raul A, Reyes, Sonia Sotomayor, Jules Boykoff, Jaime M, Valiathan, Ed Manning, Sara Stewart, Noah Berlatsky, Taylor Swift Amy Bass, Taylor Swift, Swift, Department ”, ” Bass, “ Swift, Joe, Alwyn, Diana, they’re, Clara Bow, Dylan Thomas, Patti Smith — Organizations: CNN, Republicans, MAGA Republicans, Agency, Congress, Biden, Homeland, National Guard, ‘, Manhattan, Attorney, New York Democrats, Twitter, Facebook, New York Times, Trump, Berkeley, Nazism, Columbia, Nike, Team USA, Sydney, Port, Conservative, Squadron, Royal Auxiliary Air Force, Central Press, Hulton, National Health Service, WNBA, Ungentlemanly, Department Locations: Ukraine, Israel, Taiwan, Manhattan, Iran, Russia, China, ‘, New, CNN Iran, “ Israel, Gaza, Israeli, Damascus, Iraq, America, Dearborn, Nazi Germany, Berkeley , California, Berkeley, East Bay, Sydney, Port Arthur, Tennessee, Surrey, Croydon, Quebec, Britain, Vancouver, London, Welsh

☆ Some students are still struggling to access college aid amid ongoing FAFSA 'disaster'
▼ + stars: | 2024-04-19 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

As enrollment deadlines approach, fewer students have figured out how they will afford college next year. Ongoing problems with the new Free Application for Federal Student Aid have delayed financial aid award letters and even prevented many high school seniors and their families from applying for aid at all. As of the latest update, roughly 7.3 million 2024-25 FAFSA applications have been submitted and sent to schools, according to the U.S. Department of Education, less than half of the more than 17 million students who use the FAFSA in ordinary years. Many institutions are now issuing aid with the information they have on hand, according to the Department of Education. "Students should know that they are not going through this alone, we will remain in regular communication with schools and students and encourage students to stay in touch with us and with their colleges," an Education Department spokesperson said.

Persons: Mark Kantrowitz, it's, Sandy Baum Organizations: Federal, Aid, U.S . Department of Education, Finance, Harvard, Urban Institute's Center, Education, Department of Education

☆ Investing in Trump Media is an 'act of faith,' expert says. Here are some risks involved
▼ + stars: | 2024-04-17 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

A screen displays trading information about shares of Truth Social and Trump Media & Technology Group outside the Nasdaq MarketSite in New York City on March 26, 2024. The former president is the majority shareholder in Trump Media, which trades under the initials of his name, DJT, on the Nasdaq. "The reason that people own this stock is because, in one way or another, they support Donald Trump," Rekenthaler said. The closest company comparison to Trump Media is Tesla, according to Rekenthaler. Trump Media is currently a $4 million business through social media, he said.

Persons: Donald Trump, Rekenthaler, John Rekenthaler, Tesla, Elon, Trump, FAFSA, Preston D, Cherry, who's, Oprah —, Ted Jenkin, Jenkin Organizations: Truth Social, Trump Media & Technology Group, Nasdaq, Trump Media, Morningstar, Elon Musk, Trump, Securities and Exchange Commission, Finance, Adidas, CNBC FA Council Locations: New York City, Green Bay , Wisconsin, Atlanta

☆ Biden administration releases formal proposal for new student loan forgiveness plan
▼ + stars: | 2024-04-17 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

US President Joe Biden gestures after speaking about student loan debt relief at Madison Area Technical College in Madison, Wisconsin, April 8, 2024. Andrew Caballero-Reynolds | AFP | Getty ImagesThe Biden administration has published its new student loan forgiveness proposal, putting it on the path to start clearing debt for millions of borrowers this fall. Outstanding federal education debt in the U.S. stands at around $1.6 trillion, and burdens Americans more than credit card or auto debt. Here's what to know about Biden's new relief plan. More than 25 million federal student borrowers owe more than they originally borrowed, according to the Biden administration.

Persons: Joe Biden, Andrew Caballero, Reynolds, Biden, Joe Biden's, FAFSA, haven't Organizations: Madison Area Technical College, AFP, Getty, U.S, Supreme, U.S . Department of Education, Consumer, Finance, Harvard, Education Department, Education Locations: Madison , Wisconsin, U.S

☆ Biden administration releases draft text of student loan forgiveness plan. Here's what borrowers need to know
▼ + stars: | 2024-04-16 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

U.S. President Joe Biden speaks as he announces a new plan for federal student loan relief during a visit to Madison Area Technical College Truax Campus, in Madison, Wisconsin, U.S, April 8, 2024. The Biden administration on Tuesday released the draft text of its new student loan forgiveness proposal, which could reduce or eliminate the balances of millions of borrowers. The proposed rules should be formally published in the Federal Register on Wednesday and will be followed by a 30-day comment period. The regulatory text comes about a week after President Joe Biden revealed the details of his Plan B for student loan forgiveness. The Department of Education reviews comments from the public, it hopes to finalize the new rules and start canceling borrowers' debts in the fall, it said.

Persons: Joe Biden, Biden, Harris, Education Miguel Cardona, FAFSA, Biden's Organizations: Madison Area Technical, Truax, Tuesday, Federal, Biden, Harris Administration, Education, Finance, Harvard, Supreme, U.S, The Locations: Madison , Wisconsin, U.S

☆ 'This is make or break' — students are still waiting on financial aid days ahead of National College Decision Day
▼ + stars: | 2024-04-15 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Few college admission cycles have been as hard on students as this one. National College Decision Day — the deadline most schools set to decide on a college — is just two weeks away. But many college hopefuls are still unsure of where they stand financially, as problems persist with the new Free Application for Federal Student Aid. "This is make or break for students," said Ellie Bruecker, interim director of research at the Institute for College Access and Success. For most students and their families, the college they choose hinges on the amount of financial aid offered and the breakdown between grants, scholarships, work-study opportunities and student loans.

Persons: Ellie Bruecker, FAFSA Organizations: National College, Federal Student Aid, Institute for College, Finance, Harvard, U.S . Department of Education

☆ Fewer students are graduating from college, but certificate programs are way up
▼ + stars: | 2024-04-12 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

PhotoAlto/Dinoco GrecoGetting a college degree seems increasingly less appealing. College degree earners fall nearly 3%Community college pathway is 'at risk'Historically, a two-year degree was considered an economical alternative to a bachelor's, or even a more affordable pathway to a four-year college. In fact, just 16% of all community college students ultimately attain a bachelor's degree, according to recent reports by the Community College Research Center at Columbia University, the Aspen Institute College Excellence Program and the National Student Clearinghouse Research Center. Community college as a stepping stone is "at risk," Shapiro said, and "that's very bad news." Submitting a FAFSA is also one of the best predictors of whether a high school senior will go on to college, according to the National College Attainment Network.

Persons: Shapiro, Joe Biden, it's, Sandy Baum, Baum Organizations: Community College Research Center, Columbia University, Aspen Institute College Excellence, Student Clearinghouse Research, Community, Federal, National College, Network, Seniors, U.S . Department of Education, Education, Urban Institute

☆ FAFSA is still having major issues and delaying financial aid decisions—how students and families can cope
▼ + stars: | 2024-04-05 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +2 min

Numerous hiccups in the rollout of the updated Free Application for Federal Student Aid have upended this year's financial aid award season. By now, most of the problems with submitting the form have been resolved, but getting the FAFSA information from the ED's Federal Student Aid office to colleges has introduced another slew of issues. "Continually taking two steps forward and one giant step back is not a sustainable pathway toward getting financial aid offers out to students and families." Outside of those erroneous forms being reprocessed, FSA said as of April, schools should start receiving students' financial information within one to three business days of the student submitting their FAFSA. Still, some students may feel the pressure to commit to a school before they've seen all the financial aid offers available to them or skip the FAFSA — and potentially college — process altogether.

Persons: Justin Draeger, they've Organizations: Federal, Education, National College, Aid, Internal Revenue Service, IRS, National Association of Student Financial

☆ Dartmouth and Vanderbilt expand financial aid awards in an effort to eliminate student loans
▼ + stars: | 2024-04-01 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Amid arguably the worst year to apply for financial aid, some colleges are implementing new strategies to entice students wary of the high cost. Vanderbilt University announced it is expanding Opportunity Vanderbilt to include full-tuition scholarships to students of families with an annual income of $150,000 or less. Meanwhile, Dartmouth also said it is nearly doubling its current income threshold for a "zero parent contribution" for parents with an annual income of $125,000, up from $65,000. "As costs continue to escalate we think it's so important there is access," said Doug Christiansen, Vanderbilt's dean of admissions and financial aid. "I am concerned on a national level that we will have a portion that think they can't afford it," he said.

Persons: Dartmouth, Doug Christiansen, Christiansen Organizations: Vanderbilt University, Vanderbilt, Finance, Harvard, Federal Student Aid

☆ 4 reasons Private College 529 Plan is a wise investment for your child's future
▼ + stars: | 2024-04-01 | by ( Sponsor Post | Created Insider Studios | ) www.businessinsider.com time to read: +7 min

Private College 529 Plan locks in today's tuition rates, saving big on future costs and giving flexibility with school choice. Both LaShanda and Ben have been saving for their children's higher education using Private College 529 Plan. Learn more about setting your child up for success with Private College 529 Plan. When you save with Private College 529 Plan, you purchase tuition at then-current rates for each college in the plan. This post was created by Insider Studios with Private College 529 Plan.

Persons: Ben S, Ben, LaShanda, Spelman, they're, prepaying, It's, Roth Organizations: Private, Private College, College Board, Stanford, MIT, Princeton, Spelman College, Roth IRA, Insider Studios Locations: Arizona , Arkansas , Kansas , Maine, Minnesota , Missouri, Montana , Ohio, Pennsylvania

☆ A dad explains why the college financial aid process has him worried he'll be 'scrambling to try to find money at the last minute' for his 2 daughters
▼ + stars: | 2024-03-31 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

Antonio Scordo, 50, is struggling to navigate the college financial aid process for his two daughters. Having already sent his son through college, Scordo was familiar with the Free Application for Federal Student Aid, or FAFSA, process — but this year has brought a host of new challenges. "We also don't want to apply for not enough because then you're scrambling to try to find money at the last minute. According to Federal Student Aid, the ability to make corrections and updates will not become available until "the first half of April." To help pay for his son and one of his daughter's schools, he took out nearly $50,000 in parent PLUS loans, per documents reviewed by BI.

Persons: Antonio Scordo, —, Scordo, Joe Biden's, she's, she'll, Miguel Cardona, Cardona, they're Organizations: Service, Federal Student Aid, Joe Biden's Education Department, Business, BI, The Education Department, Politico, Microsoft, Education Department Locations: Scordo

☆ Millions of older adults with student debt are at risk of losing some Social Security benefits, lawmakers warn
▼ + stars: | 2024-03-25 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

Millions of older adults who are behind on their student loans could soon receive a smaller Social Security benefit. "When borrowers are in collections, on average their Social Security benefits are estimated to be reduced by $2,500 annually," the lawmakers wrote on March 19. "This can be a devastating blow to those who rely on Social Security as their primary source of income." Social Security recipients can see up to 15% of their benefit reduced to pay back their defaulted student debt, which "can push beneficiaries closer to — or even into — poverty," the lawmakers wrote. The government's collection practices with student loan borrowers, including the garnishment of wages and Social Security benefits, is an area under review, a source familiar with its plans told CNBC.

Persons: Sen, Elizabeth Warren, Ron Wyden, Biden Organizations: Security, Democratic, Social Security, Social, U.S . Department of Education, Finance, Harvard, CNBC

☆ There's a key deadline in April for borrowers hoping to get student loan forgiveness
▼ + stars: | 2024-03-24 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

Maria Korneeva | Moment | Getty ImagesThe Biden administration has set a key deadline for student loan borrowers hoping to get forgiveness. "The opportunity to consolidate loans will help many more borrowers to qualify for student loan forgiveness," said higher education expert Mark Kantrowitz. In normal times, consolidating your student loans can be a terrible move for those hoping to get rid of their debt as your forgiveness timeline is restarted. What to know about consolidating your student loansAll federal student loans are eligible for consolidation, including Federal Family Education Loans, Parent Plus loans and Perkins Loans, Kantrowitz said. Consolidating your loans shouldn't increase your monthly payment, since your bill under an income-driven repayment plan is based on your earnings and not your total debt, Kantrowitz said.

Persons: Maria Korneeva, Biden, Mark Kantrowitz, Kantrowitz Organizations: U.S . Department of, Finance, Harvard, Federal Family, Parent, Perkins Loans

☆ Mega Millions jackpot hits $977 million. Here's what financial experts say to do if you score the winning ticket
▼ + stars: | 2024-03-20 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

A person plays lottery at a 7-eleven store as Mega Millions jackpot reaches $ 1 billion 580 million, in Redwood City, California, United States on August 8, 2023. The Mega Millions jackpot jumped to an estimated $977 million — the game's sixth-largest prize — without a winner from Tuesday night's drawing. There have been 29 consecutive drawings without a grand prize, according to Mega Millions. ET, and the odds of hitting the Mega Millions jackpot is roughly 1 in 302 million. Here are some top pieces of advice for the next winner, according to financial advisors.

Organizations: Mega, Finance Locations: Redwood City , California, United States

☆ FAFSA 'fiasco' could cause decline in the number of students going to college, experts say
▼ + stars: | 2024-03-19 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

"Students have no confidence that they are going to get the financial aid they need to make college affordable and they are opting out." Under the new aid formula, an additional 2.1 million students should be eligible for the maximum Pell Grant, according to the U.S. Department of Education. However, given the slower pace of FAFSA applications being submitted, "the number of Pell Grant recipients will be about the same as last year, despite the new Pell Grant formula making it easier for students to qualify," Kantrowitz said. "The goal of FAFSA simplification was to increase the number of lower-income students applying. FAFSA completion paves the way to college

Persons: Anne Zinn, Kantrowitz, Pell Grant Organizations: National College, Network, Norwich Free Academy, U.S . Department of Education Locations: Norwich, Conn

☆ FAFSA rollout bugs and blunders: Here's what you need to know
▼ + stars: | 2024-03-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFAFSA rollout bugs and blunders: Here's what you need to knowSara Harberson, Application Nation founder, joins 'Power Lunch' to discuss the complications with college students obtaining financial aid.

Persons: Sara Harberson

☆ College is still worth it, research finds — although these majors have the lowest rate of return
▼ + stars: | 2024-03-14 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

A recent study published in the American Educational Research Journal found that engineering and computer science majors provide the highest returns in lifetime earnings, followed by business, health and math and science majors. Education and humanities and arts majors had the lowest returns of the 10 fields of study considered. "However, there are significant differences across college majors." Overall, the researchers found that the benefits of higher education have held up, even as enrollment has declined and the labor market outcomes for those without a college degree have improved, Zhang said. For workers with a bachelor's degree, education was the lowest-earning field of study, followed by psychology and social work and the arts.

Persons: Liang Zhang, Zhang Organizations: Georgetown University Center, Education, Workforce, Federal Reserve Bank of New, American Educational Research, NYU Steinhardt School of Culture , Education, Human Development, Finance, Ivy League, Georgetown Center, Center Locations: Federal Reserve Bank of New York

☆ Inside the Blunders That Plunged the College Admission Season Into Disarray
▼ + stars: | 2024-03-13 | by ( Erica L. Green | Zach Montague | ) www.nytimes.com time to read: +1 min

There were just days left to process a batch of federal financial aid applications when Education Department officials made a fateful discovery: 70,000 emails from students all over the country, containing reams of essential data. They were sitting in an inbox, untouched. The students’ futures depended on it. “It needs to get untangled,” Mr. Cordray told his staff members on Thursday, according to recordings of two back-to-back meetings that The New York Times obtained. Three years ago, Congress ordered the Education Department to revamp the new form to make it easier and more accessible.

Persons: Richard Cordray, Mr, Cordray, ”, “ Organizations: Education Department, New York Times, Federal Student Aid

☆ Student-loan borrowers could see an easier repayment process through Biden's budget request — along with efforts to make college cheaper
▼ + stars: | 2024-03-11 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

It includes a $3.1 billion funding increase for the Education Department to help student-loan borrowers. AdvertisementPresident Joe Biden's budget wish list is out — and it includes boosted funding to help student-loan borrowers as they continue to navigate the return to repayment. Biden's budget request released on Monday outlines what his administration is seeking to prioritize in the final year of his first term. Additionally, the budget request proposes getting rid of student-loan origination fees, or fees a lender charges for processing a borrower's loan. However, many of the initiatives in Biden's budget request would require congressional approval, and with Republicans holding a majority in the House, it's unlikely it would pass in its current form.

Persons: —, Joe Biden's, Education James Kvaal, Pell Grant, Biden Organizations: Education Department, Service, Child, Social Security, Federal, Aid, Federal Student Aid, Education, College Fund, Republicans, Business, Management

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