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☆ 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

☆ House passes key procedural vote on foreign aid bills, setting up final vote Saturday
▼ + stars: | 2024-04-18 | by ( Annie Grayer | ) edition.cnn.com time to read: +4 min

The House voted Friday in a bipartisan manner to advance a key foreign aid package, a significant step in sending aid to Ukraine and Israel and setting up a final vote as soon as Saturday. The move is likely to further inflame conservatives who are against additional aid to Ukraine and have threatened Johnson’s job over the issue. The committee activity capped off another contentious day on Capitol Hill as the renewed push to send foreign aid to Ukraine has divided House Republicans. Three bills in the foreign aid package would provide aid for Ukraine, Israel and the Indo-Pacific region, with the latter intended to help deter Chinese aggression in the area. The three assistance bills are similar to the foreign aid legislation that passed the Senate in February.

Persons: Mike Johnson’s, Johnson, Thomas Massie, Marjorie Taylor, Greene, Republicans – Massie, Ralph Norman of, Chip Roy, Texas –, ”, “, CNN’s Haley Talbot, Katie Lobosco, Tami Luhby, Brian Fung Organizations: Democratic, GOP, Republicans, CNN, Caucus Locations: Ukraine, Israel, Ralph Norman of South Carolina, Texas, Iran

☆ Here’s what aid the House would provide Israel, Ukraine
▼ + stars: | 2024-04-17 | by ( Katie Lobosco | Tami Luhby | ) edition.cnn.com time to read: +3 min

CNN —House Republicans released the text of three bills Wednesday that would provide aid for Ukraine, Israel and the Indo-Pacific region, with the latter intended to help deter Chinese aggression in the area. Taken together, the House bills add up to about $95 billion in aid – the same amount the Senate bill included – with an adjustment that $10 billion in Ukraine economic assistance is in the form of a repayable loan, CNN has reported. Nearly $14 billion included in the bill would help Ukraine buy advanced weapons systems and other defense equipment. The Senate bill, by comparison, would provide $14.1 billion in assistance to Israel, including funds for missile defense systems and foreign military financing to help Israel reestablish territorial security and deterrence, and $9.2 billion in humanitarian aid. The Senate bill contained very similar provisions to bolster security in the region.

Persons: Joe Biden, Here’s what’s, Russia –, Israel, CNN’s Lauren Fox, Haley Talbot, Melanie Zanona Organizations: CNN — House Republicans, CNN, House Republicans, Ukraine, Israel, House, Foreign, United Nations Relief, Works Agency, Senate Locations: Ukraine, Israel, Russia, Iran, Taiwan

☆ Why student loan forgiveness remains a key issue for the Biden campaign
▼ + stars: | 2024-03-30 | by ( Katie Lobosco | ) edition.cnn.com time to read: +9 min

Still, the Biden campaign sees student debt forgiveness as a winning issue. The administration is working on developing another student loan forgiveness program, relying on a different legal authority this time. Student debt policy has come a long wayStill, student loan borrower advocates agree that forgiveness for nearly 4 million people is worth acknowledging. Before the 2016 presidential campaign, broad student debt cancellation was not an issue that candidates usually campaigned on. Cole also served on the Department of Education’s rulemaking committee tasked with developing the new student loan forgiveness program.

Persons: Joe Biden, Biden, It’s, –, ”, Braxton Brewington, “, ” Biden, Donald Trump, Trump, we’ll, it’s Joe Biden, Seth Schuster, Trump Democratic Sen, Elizabeth Warren –, Betsy DeVos, “ Joe Biden, ” Warren, DeVos, he’s, The Trump, it’s, There’s, that’s, Brewington, Wisdom Cole, Cole, Jill Biden’s, ” Cole, Warren, CNN’s Ariel Edwards, Levy Organizations: Washington CNN, Supreme, Republican, Biden, Trump Democratic, CNN, Education Department, Corinthian Colleges, The, PSLF, Department of Education, NAACP Youth & College Division, Department, Education’s, State, Union, Black, KFF, NAACP Locations: California, United States, Massachusetts

☆ IRS zeroes in on corporate jet usage as it cracks down on wealthy tax cheats
▼ + stars: | 2024-02-21 | by ( Katie Lobosco | ) edition.cnn.com time to read: +4 min

“The IRS is using advanced analytics and resources from the Inflation Reduction Act to more closely examine this area,” IRS Commissioner Danny Werfel said on a call with reporters. So far, the IRS has used Inflation Reduction Act funds to help collect more than $482 million from 1,600 millionaires who had not paid their tax debts. Last month, to coincide with the start of tax filing season, the IRS launched its own free, direct tax filing service. How Republicans have targeted IRS fundingThe Inflation Reduction Act, which passed in 2022 without any Republican votes, approved about $80 billion for the IRS over a 10-year period. The House GOP later approved a bill to abolish the IRS altogether and replace the entire federal tax code with a national sales tax.

Persons: Biden, –, Danny Werfel, ” Organizations: Washington CNN, Internal Revenue Service, Democrat, IRS, Republicans, Republican, GOP

☆ Nearly 153,000 people will be notified that their student loan debt is canceled
▼ + stars: | 2024-02-21 | by ( Katie Lobosco | ) edition.cnn.com time to read: +8 min

Washington CNN —Nearly 153,000 student loan borrowers currently enrolled in a new repayment plan launched by the Biden administration are expected to get an email Wednesday notifying them that their remaining federal student loan debt will be canceled, totaling about $1.2 billion. Biden’s plans to provide student debt relief were dealt a significant blow when the Supreme Court rejected his signature student loan forgiveness program last year. Nearly $138 billion of federal student loan debt has been canceled for almost 3.9 million borrowers since Biden took office. Most of the federal student loan debt cancellations that have taken place under Biden have come through programs that existed before he took office. The PSLF program cancels outstanding federal student loan debt for public-sector workers who have made 120 qualifying monthly student loan payments, or about 10 years’ worth of payments.

Persons: Biden, Joe Biden, Biden’s, “, ” Biden, he’s, Trump, Betsy DeVos, CNN’s Nikki Carvajal, Kevin Liptak Organizations: Washington CNN, Republican, Department of Education, SAVE, of Education, Office, PSLF, Corinthian Colleges, Social Security Administration, Department of Veterans Affairs, Department, Education, Social Security Locations: Culver City , California

☆ Consumers are stressed. It could be showing in how we bought toys in 2023
▼ + stars: | 2024-02-11 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +6 min

New York CNN —Consumers bought fewer toys in all of 2023, including during the key Christmas toy-buying period, showing that households continue to pare back on discretionary products. But toy sales in all of 2023 dropped 8%, both in dollar terms (how much consumers paid for toys) and in unit sales (meaning how many toys consumers bought). This shows that shoppers bought fewer toys but also traded down in prices to cheaper toys. “While 2023 was a challenging year for the U.S. toy industry, the four-year compound annual growth rate remains positive,” she said. Among the toys that consumers did buy in 2023, Pokémon, Barbie and Squishmallows were the top three best-selling brands last year, according to Circana.

Persons: pare, Circana, ”, Juli Lennett, Lennett, I’ve, “, ” Lennett, ” Jon Copestake, EY, ” Copestake, ” Robby Pettinato, Joy, ” Pettinato, Toy Joy, “ Anecdotally, “ That’s, it’s, Pettinato, Barbie, Squishmallows, Price, Melissa, Doug, – CNN’s Alicia Wallace, Katie Lobosco Organizations: New, New York CNN — Consumers, Commerce Department, Hasbro, Wild, Inc, CNN, ”, Star, Marvel, Disney Locations: New York, United States, U.S, Austin

☆ 2023 income tax return: Here’s what you need to know before you file
▼ + stars: | 2024-01-28 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +8 min

New York CNN —Come Monday, the IRS will start accepting and processing 2023 federal income tax returns. Pull out your return from last year: Your 2022 tax return will give you a good starting point for figuring out what documents you need to have handy to fill out this year’s return, said Tom O’Saben, director of tax content and government relations at the National Association of Tax Professionals. Here is a list of the most common and costly tax return mistakes the IRS has seen over the years. Lastly, the program cannot be used to file your state returns, so you’ll have to do that separately but your state may have its own free file program. (More details on the federal Direct File program are here.)

Persons: Tom O’Saben, you’ve, ” O’Saben, O’Saben, didn’t, you’re, filers, Katie Lobosco, Tami Luhby Organizations: New, New York CNN, IRS, Patriots, National Association of Tax, Social Security, Child, filers, Social Locations: New York, Maine and Massachusetts, brokerages, Arizona , California, Florida , Massachusetts, Nevada , New Hampshire , New York, South Dakota , Tennessee , Texas, Washington and Wyoming

☆ IRS set to launch its free tax filing pilot program
▼ + stars: | 2024-01-25 | by ( Katie Lobosco | ) edition.cnn.com time to read: +6 min

Washington CNN —When tax filing season opens on January 29, some taxpayers will have the option of filing their 2023 federal tax returns with a brand new, government-run system. The law required the IRS to complete a cost and feasibility study about developing a free, electronic tax filing system, which it released in May. If the pilot program is successful, Direct File could eventually rival competing services in the private market. This screenshot shows the Internal Revenue Service's free tax filing pilot. It offers step-by-step guidance, in both English and Spanish, to taxpayers filing their federal tax returns by posing questions about their income and tax situations.

Persons: Danny Werfel, haven’t, Biden Organizations: Washington CNN, IRS, Democrat, Congress, Internal Revenue, Social Security, Taxpayers, Republicans Locations: Arizona , California, Florida , Massachusetts, Nevada , New Hampshire , New York, South Dakota , Tennessee , Texas, Washington and Wyoming

☆ Department of Education makes another fix to the FAFSA, unlocking an additional $1.8 billion in financial aid
▼ + stars: | 2024-01-24 | by ( Katie Lobosco | ) edition.cnn.com time to read: +4 min

Washington CNN —The Department of Education said this week that it is making an additional adjustment to this year’s Free Application for Federal Student Aid, known as the FAFSA, that will make $1.8 billion more available in financial aid. The FAFSA determines eligibility for federal Pell Grants and federal student loans – and in most cases, the financial aid provided by colleges as well. But initially, the Department of Education did not tie the new FAFSA calculation to the latest inflation data, as required by law. It remains to be seen whether colleges can announce financial aid awards on their usual timeline. FAFSA overhaul will make more students eligible for financial aidSeparate from the inflation adjustment, the overhaul of the FAFSA makes the form easier to fill out and increases the number of families eligible for financial aid.

Persons: ” Justin Draeger, ”, Pell Organizations: Washington CNN —, Department of Education, Federal Student Aid, CNN, NPR, The Washington Post, of Education, National Association of Student Financial, The, Republican, Department of

☆ Bipartisan infrastructure law: 5 projects that got money
▼ + stars: | 2023-11-22 | by ( Katie Lobosco | ) edition.cnn.com time to read: +7 min

Washington CNN —More than 40,000 projects have received federal funding from the $1.2 trillion infrastructure law signed by President Joe Biden two yeas ago. Replacing an aging bridge over the Wisconsin RiverThe I-39/90/94 bridge, which crosses the Wisconsin River, is set to be replaced. Earlier this year, the project received $25 million from the infrastructure law. The Susquehanna River Bridge in Maryland and the Connecticut River Bridge – both of which are more than 100 years old – will also be replaced. The infrastructure law allocated $22 billion to Amtrak directly, some of which is being used to replace its fleet of more than 1,000 railcars and locomotives.

Persons: Washington CNN —, Joe Biden, hasn’t, Biden, –, Bauer, Griffin, Michael M, Sandy, Washington’s Howard, Hanson, Howard, Dean Rutz, it’s, Alexander L, Bullock Organizations: Washington CNN, Boston Logan International, Wisconsin Department of Transportation, Wisconsin DOT, Park City , Utah Park City, Historic District, AaronP, Getty, Amtrak, Maryland Area, Seattle Times, US Army Corps of Engineers, Tacoma, Puget Sound Locations: Ohio, Wisconsin, Columbia County, Milwaukee, Chicago, Madison, Park City , Utah, Park City, Utah, Kimball, Hudson, New York City, Boston, Washington, New Jersey, Manhattan, Maryland, Baltimore, Potomac, Susquehanna, Connecticut, Hanson, East King County , Washington, Columbia, Washington and Oregon, Howard, Seattle

☆ University of Tampa facing investigation in the wake of Israel-Hamas war
▼ + stars: | 2023-11-21 | by ( Katie Lobosco | Rene Marsh | ) edition.cnn.com time to read: +4 min

Washington CNN —The University of Tampa and a Florida school district, Hillsborough County Schools, are under investigation by the Department of Education related to alleged incidents of discrimination in the wake of the Israel-Hamas conflict. The investigations were launched by the Department of Education’s Office for Civil Rights. Any person or organization can file a Title VI complaint with the Office for Civil Rights. The Office for Civil Rights has now opened a total of 27 Title VI investigations this year. Kenneth Marcus, founder and chairman of the Brandeis Center, told CNN he thinks the Office for Civil Rights could be doing more.

Persons: CNN doesn’t, they’ve, ”, Jonathan Fansmith, Kenneth Marcus, Trump, “ It’s, ” Marcus Organizations: Washington CNN — The University of Tampa, Hillsborough County Schools, Department of Education, New York’s Columbia University, Columbia, Cornell University, University of Pennsylvania, Department of Education’s, Civil Rights, Civil, Office, CNN, American Council, Education, “, University of Tampa, Columbia University, College, FBI, Ivy League school’s, Brandeis Center, Wellesley College Locations: Florida, Hillsborough, Israel, New, ”, Massachusetts

☆ Student loan forgiveness: How Biden continues to cancel debt after Supreme Court ruling
▼ + stars: | 2023-10-22 | by ( Katie Lobosco | ) edition.cnn.com time to read: +9 min

Washington CNN —Although the Supreme Court struck down President Joe Biden’s signature student loan forgiveness program in late June, his administration has found ways to cancel more than $48 billion in debt since then. That’s more student loan forgiveness than was granted under any other administration – in part due to the Biden administration’s efforts to temporarily expand some debt relief programs and to correct past administrative errors made to borrowers’ student loan accounts. Expanding debt relief program for public-sector workersNearly $51 billion of student loan debt has been canceled for 715,000 borrowers through the Public Service Loan Forgiveness program since Biden took office. The PSLF program cancels outstanding federal student loan debt for public-sector workers who have made 120 qualifying monthly student loan payments, or about 10 years’ worth of payments. Nearly 513,000 borrowers with a total and permanent disability have received $11.7 billion in student loan forgiveness since 2021.

Persons: Joe Biden’s, Biden, Trump, they’d, –, “, Virginia Foxx, ”, Abby Shafroth, Shafroth, Betsy DeVos Organizations: Washington CNN, of Education, Office, Congress, ”, CNN, Department of Education, Republican, Education, White, New Civil Liberties Alliance, Cato Institute, Mackinac Center for Public Policy, National Consumer Law Center, Loan, Public, PSLF, University of Phoenix, Corinthian Colleges, Social Security Administration, Department of Veterans Affairs, Department, Social Security Locations: Michigan

☆ Little used tax-free benefit can help employees pay their student loans
▼ + stars: | 2023-08-29 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +3 min

That $5,250 is the federal cap on the amount of tax-free money that employers may offer to help defray employees’ qualified costs for their own education, including tuition and fees. In response to the Society of Human Resource Management’s 2023 employer benefits survey, only 8% of organizations said they offer student loan benefits to employees, a percentage that hasn’t changed for five years. But lawmakers who advocated for tax-advantaged employer benefits to help with student loan payments are concerned there hasn’t been enough public awareness of it. That may be of particular interest now that the yearslong pause in payments on federal student loans is expiring. But for anyone who also has to pay off private student loans, the amount they shell out every month is likely much higher.

Persons: it’s, “, hasn’t, Danny Werfel, —, Katie Lobosco Organizations: New, New York CNN, Society of Human, IRS, Federal Locations: New York

☆ Fact check: The first Republican presidential debate of the 2024 election
▼ + stars: | 2023-08-23 | by ( Cnn Staff | ) edition.cnn.com time to read: +16 min

CNN —Eight candidates for the Republican nomination for president took the stage for the first GOP debate Wednesday night in Milwaukee. (In June 2020, he announced a plan for schools to reopen for the next school year that began in August. In April 2020, the unemployment rate spiked to 14.7% — the highest level since monthly records began in 1948. It reached a 66-year low during certain months of 2019, at 3.4% in April and 3.6% in August, but by December 2020, unemployment for women was at 6.7%. That deal was negotiated by special counsel David Weiss, who was first appointed to the Justice Department by former President Donald Trump.

Persons: Ron DeSantis, DeSantis, Daniel Dale Nikki Haley, Nikki Haley, “ Donald Trump, Trump, Daniel Dale, Katie Lobosco Burgum, Doug Burgum, –, Goldman Sachs, Ella Nilsen Tim Scott, South Carolina Sen, Tim Scott, Biden, ” Scott, Scott’s, don’t, Tara Subramaniam Scott, ’ Scott, Joe Biden, they’re, Kevin McCarthy, Merrick Garland, ”, Garland, CNN’s Hannah Rabinowitz Haley, Haley, CNN’s Haley Britzky Pence, Mike Pence, “, Obama, CNN’s Haley Britzky Christie, Hunter Biden, Chris Christie, Biden’s son Hunter Biden, Christie, David Weiss, Donald Trump, CNN’s Marshall Cohen Scott, Burgum, Scott, Katie Lobosco Organizations: CNN, Republican, GOP, “, New, New York Tri, State, Trump, South, United Nations, Social Security, Dakota Gov, American Clean, Republicans, DOJ, Justice Department, National School, Department, Defense Department, of Foreign Relations, Former New Jersey Gov, US, IRS, Treasury Locations: Milwaukee, Florida, Broward, Palm, New York, Connecticut , New Jersey, Louisiana, South Carolina, China, United States, Covid, Ukraine, Estonia, Latvia, Lithuania, Poland

☆ Fed officials are divided, but holding rates steady in September seems likely
▼ + stars: | 2023-08-13 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —Federal Reserve officials meet next month to determine whether to raise interest rates for the 12th time to cool the economy or hold them steady. Some officials think the Fed has already raised its benchmark lending rate enough to curb inflation, but others think it’s too soon to tap the brakes. Philadelphia Fed President Patrick Harker echoed that sentiment in a speech last week, saying “I believe we may be at the point where we can be patient and hold rates steady.”Other Fed officials agree. “Inflation is still significantly above” the Fed’s 2% target, Fed governor Michelle Bowman said last week at an event in Atlanta. The Federal Reserve releases minutes from its July policymaking meeting as well as July figures on industrial production.

Persons: ” Rajeev Sharma, ”, Jerome Powell, Patrick Harker, “, Raphael Bostic, there’s, Michelle Bowman, ” Carol Schleif, ” Schleif, Katie Lobosco, Brinker Organizations: CNN Business, Bell, DC CNN — Federal Reserve, Key Private Bank, CNN, “, Fed, Financial, Philadelphia Fed, Atlanta Fed, BMO Family Office, Internal Revenue, Tax Administration, IRS, Kansas City Tax Processing, Fresno Tax Processing, China’s National Bureau of Statistics, Depot, US Commerce Department, Target, Federal Reserve, Walmart Locations: Washington, Jackson Hole , Wyoming, Atlanta, Kansas, Fresno

☆ IRS cannot find millions of backup tax records, watchdog says
▼ + stars: | 2023-08-11 | by ( Katie Lobosco | ) edition.cnn.com time to read: +3 min

Washington CNN —The Internal Revenue Service cannot locate thousands of microfilm cartridges storing millions of sensitive business and individual tax account records, a new watchdog report found. The tax information could be used to commit tax refund fraud, according to the Treasury Inspector General for Tax Administration, the office that conducted the report. During a site visit, the IRS was unable to locate any of the fiscal year 2010 microfilm cartridges that should have been sent to the Kansas City Tax Processing Center in 2022 after the Fresno Tax Processing Center closed. Separately, at the Ogden Tax Processing Center, IRS personnel were unaware of the current location of as many as 168 cartridges that had been sent out for reformatting, the report said. The IRS is also digitizing all paper-filed tax returns by 2025, which is expected to cut processing times in half and speed up refunds by four weeks, the agency said last week.

Persons: Ken Corbin, Biden Organizations: Washington CNN, Internal Revenue, Tax Administration, IRS, Kansas City Tax Processing, Fresno Tax Processing, Ogden Tax Processing Center, Democrats, Republicans Locations: Kansas, Fresno

New York CNN —The Small Business Administration distributed more than $200 billion in potentially fraudulent Covid-19 relief funds, according to a federal watchdog. At least 17% of the $1.2 trillion distributed by the SBA was wasted in fraud, the report found. Most of the fraud apparently happened through the EIDL funds, with the inspector general estimating more than $136 billion of fraudulent activity in that program. While the program successfully helped many companies pay workers during the pandemic, it was plagued by questionable lending and rampant fraud. To date, the agency has recovered nearly $30 billion in funds, according to the report.

Persons: Chris Steakhouse, Trump Organizations: New, New York CNN, Small Business Administration, SBA, Washington, PPP, Los Angeles Lakers Locations: New York

☆ Student loan forgiveness: Senate passes bill to block Biden's program
▼ + stars: | 2023-06-01 | by ( Katie Lobosco | ) edition.cnn.com time to read: +5 min

Meanwhile, borrowers are still awaiting a Supreme Court decision, which will determine whether the student loan forgiveness program can take effect. In February, the Supreme Court heard two legal challenges to Biden’s student loan forgiveness program. Biden’s other student debt policiesBiden has extended the pause on federal student loan payments several times. The Biden administration has tied the restart date to the litigation over the separate student loan forgiveness program. New rules set to take effect in July could broaden eligibility for the Public Service Loan Forgiveness program, which is aimed at helping government and nonprofit workers.

Persons: Joe Biden’s, Democratic Sens, Joe Manchin, Jon Tester, Montana, Arizona Sen, Kyrsten, Jared Golden, Marie Gluesenkamp Perez, Biden Organizations: Washington CNN —, Senate, Republicans, Democratic, Maine, Washington Rep, Congressional, Office, Republican, Job, Network Foundation, Public, of Education Locations: West Virginia, Arizona, Texas

☆ Colleges should provide the true cost of attendance after report finds most schools don't give clear information
▼ + stars: | 2022-12-13 | by ( Katie Lobosco | ) edition.cnn.com time to read: +4 min

Congress should require colleges to give students an accurate price for the cost of attendance, the Government Accountability Office said in a recent report that found that most colleges fail to provide all the financial information students need. Prospective college students usually receive a financial aid letter from schools once they are accepted. “Federal law doesn’t require colleges to include clear, standard information in all of their financial aid offers. The bill is one of many legislative efforts that aim to provide students and their families better information about the cost of college. In addition, last month, the Department of Justice released new guidance that aims to make it easier to have federal student loan debt discharged in bankruptcy – a particularly difficult legal process under the previous policy.

☆ Student loan forgiveness: 9 million people received emails that mistkanely said their application was approved
▼ + stars: | 2022-12-13 | by ( Katie Lobosco | ) edition.cnn.com time to read: +3 min

Washington CNN —About nine million people received an email last month from the Department of Education that mistakenly said their application for student loan forgiveness had been approved, adding to the confusion surrounding President Joe Biden’s debt relief program. Thus far, no one has received debt forgiveness because the program is blocked by federal courts. The nine million borrowers who received the inaccurate emails have now started to receive new emails from the government correcting the error. “Due to a vendor error, you recently received an email with a subject line indicating your application for the one-time Student Loan Debt Relief Plan had been approved. The department received about 26 million applications for student loan forgiveness before the program was halted by a federal district judge in November.

☆ Student loan forgiveness: Biden's pause on payments has been better for these students than forgiveness
▼ + stars: | 2022-12-09 | by ( Katie Lobosco | ) edition.cnn.com time to read: +4 min

Washington CNN —President Joe Biden’s student loan forgiveness program remains blocked by federal courts for now. For most federal student loan borrowers, balances have been frozen since March 2020. Who benefits more from the pauseThere are roughly 1.6 million people pursuing the Public Service Loan Forgiveness program, according to a government estimate from October. Lauren McClain estimates she's saved nearly $20,000 thanks to the pause on student loan payments. She estimates she’s saved nearly $20,000 thanks to the pause, while Biden’s forgiveness program wouldn’t have actually helped her financially.

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