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Every paycheck I get goes to Navient," Pucci, 59, told BI. I feel trapped, and this has been so traumatic, especially the last couple of months, it's been really, really difficult." The lender, instead, can decide how it wants to craft a relief process, if at all. AdvertisementBut Linssen's efforts paid off — she got $70,000 in private loans discharged in May. While Nave also eventually got her private loans relieved after filing complaints with the CFPB, she doesn't understand why it has to be this way.
Persons: , Leandro Pucci, Joe Biden's, hasn't, Pucci, it's, " Pucci, Sen, Elizabeth Warren, Holder, Warren, Navient, he's, Julia Barnard, Barnard, Theresa, Christman, Theresa Christman Theresa Christman, Eileen Connor, PPSL, haven't, Connor, I've, Victoria Linssen, Jennifer Nave, Linssen, aren't, Brooks, Victoria, Victoria Linssen Victoria Linssen, Nave, they're, — Navient, Nick Eucker, Eucker Organizations: Service, Art Institute, Business, Joe Biden's Education Department, Navient, Education Department, Consumer Financial, Bureau, Education, BI, International Academy of Design, Technology, Brooks Institute, DeVry University, Victoria Linssen Victoria Locations: Venezuela, California, Navient, Cardona
The U.S. Department of Education may extend the eligibility of a popular student loan forgiveness program to early childhood educators. The agency on Thursday announced that it was issuing a request for information on potentially broadening the Public Service Loan Forgiveness program to include workers in early childhood education settings, many of whom report low wages. "Early childhood educators help young children learn, grow, and thrive," said U.S. "If these educators can access Public Service Loan Forgiveness, we can help our youngest children, their families, and their communities." Including early childhood educators would likely expand the reach of the program to at least some for-profit employers.
Persons: Education James Kvaal, Kvaal, George W, Bush, Xers, Mark Kantrowitz Organizations: U.S . Department of Education, Education, Finance, Trump, Education Department
Read previewFormer President Donald Trump is making sure voters know how he feels about student-loan forgiveness. He also used that time to criticize President Joe Biden, particularly Biden's efforts to enact student-loan forgiveness for millions of Americans. Should Biden win, his administration will continue carrying out its broad and targeted debt relief efforts such as one-time account adjustments for borrowers on income-driven repayment plans and Public Service Loan Forgiveness. After the Supreme Court decision, his campaign posted a statement on his website saying that "these wins were only made possible through President Trump's strong nomination of three distinguished and courageous jurists to the Supreme Court." AdvertisementStill, Biden's Education Department is moving forward with its relief efforts and has maintained that all of its actions are in accordance with the law and the Supreme Court decision.
Persons: , Donald Trump, Trump, Joe Biden, I'm, Biden, Biden's, It's, Trump's Organizations: Service, Business, Trump, Biden's Education Department, Higher, Biden, Public, Supreme, Education Department, GOP Locations: Wisconsin
The University of Michigan and the City University of New York mishandled complaints of discrimination on campus during widespread protests over the war in Gaza, the Education Department announced on Monday. The department’s Office for Civil Rights has opened dozens of investigations into antisemitism and anti-Arab discrimination as students held rallies and set up encampments in support of Palestinians and called for their schools to divest from Israel. The Michigan and New York cases were only the first to reach a conclusion. More are expected to finish in the coming weeks and months as schools continue to reckon with the limits of free speech in academic settings. Under the terms of the agreements announced on Monday, the schools must step up their reporting of complaints to the Office for Civil Rights and revisit their training of employees, including campus police officers, about their obligations under federal law.
Organizations: University of Michigan, City University of New, Education Department, Civil Rights, Office Locations: City University of New York, Gaza, Israel, The Michigan, New York
The Biden administration’s new Title IX regulations that expanded protections for L.G.B.T.Q. students have been temporarily blocked in four states after a federal judge ruled that the Education Department overstepped its authority. The plaintiffs argued that the Biden administration’s interpretation of Title IX betrayed the law’s original purpose of prohibiting discrimination on the basis of sex. The new rules, which the Education Department released in April, disallow discrimination or harassment of students based on their gender identity, enshrining stronger protections for transgender students. However, the rules skirted some of the most divisive questions, stopping short of requiring schools to grant transgender students access to single-sex dorms or sports teams.
Persons: Terry A, Doughty, Biden, IX Organizations: Biden, Education Department Locations: Louisiana, Louisiana , Mississippi, Montana, Idaho
You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Read previewSome student-loan borrowers are set to get cheaper bills next month — but the Education Department is still working on those new calculations. Last summer, President Joe Biden's Education Department launched the SAVE plan — a new student-loan repayment plan intended to make payments more affordable for borrowers with a shorter timeline to loan forgiveness than prior income-driven repayment plans. Aside from SAVE's implementation, the student-loan servicing industry is undergoing a series of changes that are impacting borrowers' user experience. For example, the Education Department is transitioning the Public Service Loan Forgiveness program away from servicer MOHELA and is instead splitting up PSLF accounts among other servicers to be overseen by Federal Student Aid.
Persons: , Joe Biden's, Vanessa Harmoush, servicer Organizations: Service, Education Department, Joe Biden's Education Department, Business, New York Times, SAVE . Education, SAVE, Federal Student Aid, The Education Department
Read previewStudent-loan borrowers enrolled in President Joe Biden's new repayment plan may have just gotten some relief from legal challenges. Crabtree wrote that the three states' standing is "weaker than the one that prevailed" at the Supreme Court. Crabtree explained how this case is different from Biden v. Nebraska, the case brought before the Supreme Court. In the case to block SAVE, the states are not arguing they would lose money from servicing loans. It's also in the process of implementing a broader student-loan forgiveness plan to replace the one the Supreme Court struck down, which is also likely to result in lawsuits.
Persons: , Joe Biden's, Daniel Crabtree, they'd, Crabtree, They're, Cato, It's Organizations: Service, Business, Kansas, Supreme, Public, Biden, . Nebraska, New Civil Liberties Alliance, Mackinac Center for Public, Sixth Circuit, Education Department Locations: Kansas, — South Carolina , Texas, Alaska, .
The Biden-Harris Administration has forgiven your federal student loan(s) listed below with Aidvantage in full." My wife's an assistant principal, and I'm a retired assistant principal, but now I don't worry about crushing debt," Perry said. Related storiesPerry was planning on going into substitute teaching to continue supplementing his income during retirement while he made his student-loan payments. Have your student loans been forgiven? Do you have a different experience with student debt?
Persons: , Steven Perry, Perry, he's, Harris, I'm, let's, Kris Neilson, that's, Zers, we've Organizations: Service, Business, Public, Harris Administration, Education Department, BI, Gallup, Lumina Foundation Locations: PSLF, forbearance
Using data from the Fed's Survey of Consumer Finances, the analysis finds that over a million Americans ages 55 to 64 are holding student loans, or have spouses with loans. There are a range of reasons why older borrowers might be struggling to pay off their student loans. Millennials are most likely to hold student debt with an average balance of about $35,000, and while fewer Gen Xers have student debt, their average balance is higher at about $48,000, according to TransUnion. Provisions are being rolled out by President Joe Biden's Education Department that could ease the burden of student debt on older borrowers. AdvertisementAre you a Gen Xer with student debt who is worried about retirement?
Persons: Gen Xers, Xers, Joe Biden's Organizations: Service, School's Schwartz, for Economic, Business, Fed's Survey, Consumer Finances, Social Security, Democratic, Joe Biden's Education Department, Public, Education Department Locations: Fed's
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewLawsuits to block some of President Joe Biden's targeted student-debt relief efforts are simmering — and a court ruling might have signaled how one case will fare. "Plaintiffs have not alleged that any of their employees have stopped seeking PSLF forgiveness because of the adjustment," the court's decision said. In March, 11 GOP state attorneys general filed a lawsuit to block the SAVE income-driven repayment plan, which the Education Department implemented last summer to give borrowers more affordable monthly payments. Economic assumptions alone were not enough for the Sixth Circuit, nor, for that matter, for the Supreme Court," the Education Department wrote in its legal filing.
Persons: , Joe Biden's, Circuit wasn't Organizations: Service, New Civil Liberties Alliance, Cato Institute and Mackinac Center for Public, Business, Public, Sixth, Circuit, Education Department, SAVE, Biden's Education Department, Sixth Circuit, Supreme Locations: PSLF
Read previewRachel, a Pennsylvania student-loan borrower, wants President Joe Biden's new debt cancellation plan to be implemented — and she wants the relief to be as broad as possible. AdvertisementRachel is among the millions of federal student-loan borrowers contending with monthly bills again amid an uncertain time for relief. Biden's Education Department is working to implement a new debt relief plan after the Supreme Court struck down its first plan last summer. "I will never stop working to cancel student debt — no matter how many times Republican elected officials try to stop us." Where the challenges standThe administration is required to adhere to the negotiated rulemaking process to implement this new student-loan forgiveness plan.
Persons: , Rachel, Joe Biden's, cancelation, Biden, Donald Trump, Cary Coglianese, it's Organizations: Service, Federal, Business, Biden's, Public, Education Department, Republican, Department, Biden, Higher, University of Pennsylvania Locations: Pennsylvania
Interest on Federal Student Loans Is Rising to 6.53%
  + stars: | 2024-05-24 | by ( Ann Carrns | ) www.nytimes.com   time to read: +1 min
The interest rate on new federal student loans for undergraduates will be 6.53 percent as of July 1, up from 5.5 percent this year, the Education Department announced last week. And rates on PLUS loans — extra financing available to parents of undergraduate students as well as to graduate students — will increase to 9.08 percent. The yield at the May 8 auction was 4.483 percent, plus an added 2.05 percent for undergraduate loans. (The yield last year in the Treasury auction was 3.448. Add-on rates are higher for graduate and PLUS loans.)
Organizations: Education Department, Congress, Treasury
President Biden announced on Wednesday the cancellation of $7.7 billion in student loans held by 160,000 borrowers, building on his strategy of chipping away at college debt by tweaking existing programs as his administration pursues a larger forgiveness plan. Many borrowers in this round — who qualified through public service loan forgiveness, the president’s SAVE plan or another income-driven repayment plan — have already begun receiving emails notifying them of their approvals, the Education Department said in a statement. The steady drumbeat of loan forgiveness announcements from the White House this year has become a centerpiece of Mr. Biden’s re-election pitch, in which he has consistently described overcoming the cost of education as a primary hurdle for working families. “From Day 1 of my administration, I promised to fight to ensure higher education is a ticket to the middle class, not a barrier to opportunity,” the president said in a statement.
Persons: Biden, Biden’s Organizations: Education Department
Read previewAnother batch of student-loan borrowers has been approved for debt relief. On Wednesday, President Joe Biden's Education Department announced that it approved $7.7 billion in debt cancellation for 160,500 borrowers on Public Service Loan Forgiveness — which forgives student debt for government and nonprofit workers after 10 years of qualifying payments — or income-driven repayment plans. Specifically, according to the announcement, 66,900 borrowers are receiving relief through fixes to PSLF, 54,300 borrowers are receiving relief through the SAVE income-driven repayment plan, and 39,200 borrowers are receiving relief through one-time account adjustments to bring payments on income-driven repayment plans up to date. This provision forgives student debt for borrowers who originally took out $12,000 or less in student loans and made as few as 10 years of payments. "I will never stop working to cancel student debt — no matter how many times Republican elected officials try to stop us."
Persons: , Joe Biden's, Harris, Education James Kvaal, There's, Biden Organizations: Service, Joe Biden's Education Department, Public, Business, Education Department, Biden, Harris Administration, Education, Republican
US President Joe Biden announces student loan relief with Education Secretary Miguel Cardona (R) on August 24, 2022 in the Roosevelt Room of the White House in Washington, DC. Olivier Douliery | AFP | Getty ImagesThe Biden administration fixes to the country's $1.6 trillion student loan system have resulted in regular announcements to forgive large shares of that debt. In total, the U.S. Department of Education has canceled almost $160 billion in federal student loan debt for nearly 4.6 million borrowers while President Joe Biden has been in office. Here what to know about the aid programs that have led to that relief. Income-driven repayment plansPublic Service Loan ForgivenessNavigating the Public Service Loan Forgiveness program has been famously difficult.
Persons: Joe Biden, Education Secretary Miguel Cardona, Olivier Douliery, Biden, George W, Bush, Federal Perkins Organizations: Education Secretary, White, AFP, Getty, U.S . Department of Education, Public, Consumer Financial, Family Education, Federal, Federal Perkins Loans, Education Department Locations: Washington ,
New York City once sold a promise of free prekindergarten for all as an unusual benefit designed to make it far easier to raise children in this expensive city. So as families worried over whether their 3-year-olds would have spots this fall, Mayor Eric Adams pledged last month that everyone would have “access” to a seat. Every 4-year-old in New York is guaranteed a free preschool seat, and 3-year-olds were next in line for a universal program. On Thursday, about 2,500 children did not receive a prekindergarten offer, leaving their parents in limbo. Many are still on huge waiting lists and scrambling to rethink their finances and future in the city.
Persons: Eric Adams, Adams Organizations: Education Department Locations: York City, New York
(For example, federal student loan borrowers can pause their payments if they become unemployed, return to school or get cancer.) But advocates have fresh warnings now as the Biden administration reforms the federal student loan system. Millions more federal student loan borrowers could receive debt forgiveness in the coming months if Biden's revised relief package survives legal challenges this time. PSLF allows certain not-for-profit and government employees to have their federal student loans cleared after 10 years of on-time payments. (The rates on federal student loans for the 2024-2025 academic year will range from roughly 6.5% to 9%.)
Persons: Biden, Joe Biden, Biden's, who've, PSLF, I've, they'd refinanced, , Yu, Mark Kantrowitz, Kantrowitz Organizations: U.S . Department of Education, Education Department, Public, Art Institute, Art, Education Management Corp, Valuable Education Locations: Mayotte, Iowa , Massachusetts, Pennsylvania
More than two weeks after a deadline passed for federal loan borrowers seeking debt relief, the Education Department has extended the offer, giving millions of borrowers a fresh shot at aid. The department said on Wednesday that borrowers would now have until June 30 to consolidate commercially held education debt under the Federal Family Education Loan Program — loans originally from private lenders — or Perkins loans into new direct loans, which are held by the Education Department. “The department is working swiftly to ensure borrowers get credit for every month they’ve rightfully earned toward forgiveness,” said James Kvaal, the under secretary of education. The move is part of the Biden administration’s effort to aggressively cancel education debts through longstanding relief programs and by easing bureaucratic barriers. One of the trickiest challenges has been reaching borrowers with loans through the Federal Family Education Loan Program, a lingering vestige of a previous federal student loan system.
Persons: , James Kvaal, Biden Organizations: Education Department, Federal Family Education, Federal Family Education Loan Program
Read previewPresident Joe Biden's Education Department is giving student-loan borrowers more time to get closer to debt cancellation. On Wednesday, the Education Department announced that it's extending the deadline for borrowers to benefit from the one-time account adjustments. To receive the account adjustment automatically, borrowers must be in the federal direct loan program or have federally held loans in the Federal Family Education Loan program. "FFEL borrowers should consolidate as soon as possible in order to receive this benefit that has already provided forgiveness to nearly 1 million borrowers." Since the adjustments began, according to the department, 996,000 borrowers have received $49.2 billion in debt relief.
Persons: , Joe Biden's, Education James Kvaal Organizations: Service, Joe Biden's Education, Education Department, Public, Business, Family Education, Education, Federal, Aid Locations: PSLF
A Pause for the Public Service Loan Forgiveness Program
  + stars: | 2024-05-10 | by ( Ann Carrns | ) www.nytimes.com   time to read: +1 min
The Education Department has paused the processing of applications for student loan forgiveness by borrowers who work in public service jobs for about two months as it updates its systems and seeks to fix the problems plaguing its forgiveness program. The pause for the Public Service Loan Forgiveness program began May 1, the department’s Office of Federal Student Aid said. Borrowers can still submit applications and all other forms, like those documenting their eligibility, but they won’t be processed until the pause ends in July, the office said. In a recent blog post, it called the changes “an exciting and necessary step” that would lead to faster reviews of applications. During and after the pause, the 2.2 million borrowers working toward loan forgiveness in the public service program will continue to make loan payments on their assigned loan servicer’s website, the department said.
Organizations: Department, Public, Federal Student Aid, Education Department
The department is also investigating whether the Berkeley district retaliated against two parents who complained about harassment based on Jewish ancestry. CNN has reached out to the school district for a comment. However, that list does not currently include the Berkeley school district. “However, antisemitism is not pervasive in the Berkeley Unified School District,” she said. Ford Morthel noted that the district does not share actions the school district takes against students or teachers because this information is protected under federal and state law.
Persons: David Banks, ” Banks, Banks, , Columbia’s, , George Washington, Muriel Bowser, Pam Smith, Elise Stefanik tussled, Stefanik, ” Stefanik, Brandon Williams, ” Williams, , ” Enikia Ford Morthel, ” Ford Morthel, Ford Morthel Organizations: CNN, New, New York City Public Schools, Jewish, , Secondary, York City Public Schools, New York City Police Department, Ivy League, Harvard University, University of Pennsylvania, Republicans, George Washington University’s, Washington, DC Metropolitan Police, Queens, Hillcrest High School, New York Republican, ” New York Republican, Jews High School, High School, US Department of Education, Berkeley Unified School District, Defamation League, Brandeis Center, Civil Rights, Brandeis Locations: New York, York, New York City, Berkeley , California, Montgomery County , Maryland, Queens, Israel, Hillcrest, New, Brooklyn, Berkeley, California,
Marcy Donnelly and Chris Buerger, 50 and 52, combined their last names when they wed in 2000. AdvertisementThis as-told-to essay is based on a conversation with Marcy Donnager. It started as a joke, then we realized it made senseNone of it seemed real, so we made up names for ourselves. But our adopted names didn't suit our last names, Donnelly and Buerger. Then, once we had our marriage certificate, we used it in the court proceeding to legally change our names to Donnager.
Persons: Marcy Donnelly, Chris Buerger, Donnager, , Marcy Donnager, Chris, Sasha, Donnelly, Buerger, Sasha Donnager, Buergdonn, Marcy, Aidan, Austin, we're Organizations: Service, SeaWorld, Social Security, Business Locations: San Diego, San Francisco, Orange County, Las Vegas, Austin
Sen. Elizabeth Warren led a group of Democrats in pushing for increased Federal Student Aid funding. AdvertisementA group of Democratic lawmakers is pointing to one key thing that will help student-loan borrowers and families navigate financial aid: more funding. Advertisement"FSA's responsibilities have increased to protect students and borrowers, but its federal funding has remained stagnant," they wrote. AdvertisementWhen it comes to the FAFSA, both Republican and Democratic lawmakers have been highly critical of the way the Education Department has facilitated the rollout. The Education Department is also in the process of crafting its broader student-debt relief plan, which is currently in the public comment period.
Persons: Sen, Elizabeth Warren, , Massachusetts Sen, Tammy Baldwin, Shelley Moore Capito, Joe Biden's, Biden, Secretary Miguel Cardona, Cardona Organizations: Federal Student Aid, Service, Democratic, Massachusetts, Sens, Republicans, Business, Education Department, Public, Republican, Secretary
Holocaust Memorial Museum’s Days of Remembrance, where he will draw on the Oct. 7 terrorist attack on Israel to amplify concerns about antisemitism in the United States and abroad. Mr. Biden’s address from Capitol Hill comes during weeks of protests on American college campuses against Israel’s war in Gaza, with students demanding that the Biden administration stop sending arms to Israel. Jewish groups have been pressuring the administration to take firmer actions to combat antisemitism. Since the Oct. 7 attack, the department has opened more than 100 investigations into complaints about antisemitism and other forms of discrimination. For months, Mr. Biden has faced fierce criticism over his support for Israel, even from within his own party.
Persons: Biden, recommit, ” Karine Jean, Pierre, , we’ve, Mr, ” Ms, Jean Organizations: U.S . Holocaust, Capitol Hill, White House, Hamas, Education Department’s, Civil Rights, Civil, Israel, Health Locations: U.S, Israel, United States, Gaza
By this time of year, college-bound high school seniors are usually celebrating their choices, researching dorms and even thinking of their majors. Because of a disastrous rollout of the new application for federal tuition aid, many still don’t know how much tuition they would be paying and so have not decided where they can afford to go. The Education Department’s redesigned form for the Free Application for Federal Student Aid, or FAFSA, was supposed to make applying for tuition aid easier and more accessible. But faced with a bureaucratic mess caused by technical meltdowns and severe delays in processing information and receiving aid packages, students say the new system has been anything but clear or streamlined. The first signs of trouble began in December with the form’s release and have cascaded since, creating uncertainties for students — with graduation right around the corner.
Persons: that’s Organizations: Federal Student Aid
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