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☆ Education Department opens investigation into Harvard’s legacy admissions
▼ + stars: | 2023-07-25 | by ( ) www.cnbc.com time to read: +4 min

Opening a new front in legal battles over college admissions, the U.S. Department of Education has launched a civil rights investigation into Harvard University's policies on legacy admissions. An Education Department spokesperson confirmed its Office for Civil Rights opened an investigation at Harvard. Wesleyan President Michael Roth said a student's "legacy status" has played a negligible role in admissions, but would now be eliminated entirely. Legacy policies have been called into question after last month's Supreme Court ruling banning affirmative action and any consideration of race in college admissions. NAACP President and CEO Derrick Johnson said he commended the Education Department for taking steps to ensure the higher education system "works for every American, not just a privileged few."

Persons: Jane Sujen Bock, Michael Roth, Derrick Johnson, Brown Organizations: U.S . Department of Education, Harvard, Civil Rights, discriminates, Education Department, Coalition, Wesleyan University, Wesleyan, Amherst College, Carnegie Melon University, Johns Hopkins University, NAACP, Ivy League, Stanford, MIT, Duke, University of Chicago, Athletic Locations: Boston, New England, Connecticut, Massachusetts, Pennsylvania, Maryland

☆ Everything student-loan borrowers need to know about what will happen when payments restart this fall without broad debt relief
▼ + stars: | 2023-07-03 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Biden announced a new plan to transition borrowers back into repayment after his broad debt relief was struck down. The plan includes a 12-month "on-ramp" period and a new income-driven repayment plan. Along with the on-ramp period, Cardona also said his department has finalized a new income-driven repayment plan for borrowers. If a borrower is already enrolled in the REPAYE plan — an existing income-driven repayment plan — they will automatically be put on the SAVE plan when it becomes available. If a borrower is enrolled in an income-driven repayment plan, they can go to studentaid.gov and select the "My Aid" page, which will list their repayment plan.

Persons: Biden, —, Joe Biden's, overreached, Miguel Cardona, Cardona, we'll, I'm Organizations: Service, Higher, Education Department, Public, Valuable Education

☆ The Supreme Court strikes down Biden's student-loan forgiveness plan, blocking debt relief for millions of borrowers
▼ + stars: | 2023-06-30 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

The Supreme Court struck down Biden's student-loan forgiveness plan. It ruled that the relief under Biden's current plan is illegal and cannot move forward. In November, two conservative-backed lawsuits succeeded in pausing the implementation of Biden's debt relief plan, just one month after applications for the loan forgiveness opened up. "Resuming student debt payments in the middle of an affordability crisis is unconscionable. President Biden needs to deliver on his promise to cancel student debt," Khanna wrote on Twitter.

Persons: —, Joe Biden's, Pell Grant, Biden, Brown, Miguel Cardona, Ro Khanna, Alexandria Ocasio, Cortez, Khanna, We're Organizations: Service, Republican, US Department of Education, Department of Education, . Nebraska, Democratic, —, The Education Department, Education, Supreme, Twitter, Politico, Higher Locations: . Nebraska, ., Alexandria

Our experts answer readers' student loan questions and write unbiased product reviews (here's how we assess student loans). Borrowers who have refinanced federal loans into private loans are ineligible for forgiveness. See Insider's picks for the best student loan refinance lenders >>What is Biden's student loan forgiveness plan? Federal student loans you've refinanced are not eligible for forgiveness under Biden's debt relief plan. Types of student loans that are eligible for forgivenessThe Education Department maintains a list of eligible student loans on its website, which includes the following:Federal Direct Loans — subsidized, unsubsidized, PLUS loans, and consolidation loansFederal Family Education Loan (FFEL) Program loans (ended in 2010)Federal Perkins Loan Program loans (ended in 2017)Education Department-held defaulted loansAll loans funds must have been received on or before June 30, 2022.

Persons: Pell Grant, —, Biden, Pell, you've, doesn't, Andrew Latham, Biden's, Perkins, Latham Organizations: Service, —, Pell Grants, Education Department, US, of Education, Department, Federal, Family Education, Loan Program, Public

☆ A key driver behind ballooning student-loan balances is about to come back after a 3-year pause
▼ + stars: | 2023-06-19 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Student-loan payments, and interest, have been on pause for over three years. Interest has been a key driver of surging student-loan balances due to capitalization. "I feel like I've actually been responsible, and I've paid a considerable amount of money on my student loans," Wise said. "The only policy that has ever ended this debt cycle is the repayment pause, and the cycle is all but guaranteed to restart once the repayment pause comes to an end." "It would be political malpractice to have students repay student loans under Biden when Trump provided the relief," California Rep. Ro Khanna told The Washington Post.

Persons: —, David Wise, I've, Wise, Miguel Cardona, Joe Biden, Biden, " Cardona, Trump, Ro Khanna Organizations: Service, Education Department, Supreme, Jain, Institute, Federal Student Aid, Congress, Democratic, Biden, Washington Post Locations: California

☆ Student-loan borrowers will begin making payments in October — and they'll be notified 'well before' their first bill is due, Biden's Education Department says
▼ + stars: | 2023-06-15 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Student-loan borrowers will resume payments in October, the Education Department confirmed. Borrowers are awaiting a Supreme Court decision on Biden's broad debt relief in the coming weeks. Per the documents, the department was preparing to resume interest accrual on borrowers' student loans in September, and they would not be hit with a bill until October. A Supreme Court decision could come on Friday or the next two Thursdays of June, and additional days could be added to the calendar. "Our concern is only heightened by the prospect of an unfavorable ruling in coming days framed by a conservative, right-wing majority of the Supreme Court.

Persons: —, Joe Biden's, Biden, Ayanna Pressley, Ro Khanna, Trump, Derrick Johnson, Wisdom Cole Organizations: Education Department, Service, Politico, Biden, An Education Department, Democratic, Supreme Court, Massachusetts, Washington Post, NAACP, Youth and College Locations: California

☆ Interest rates rise to 5.5% on new federal student loans—why they're still better than private ones
▼ + stars: | 2023-05-12 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +1 min

If you're taking out federal student loans to pay for school next year, they're about to get more expensive. The interest rate on direct undergraduate federal student loans — which are determined by Congress each year — will increase to 5.5% from 4.99% for loans disbursed on or after July 1, 2023, an Education Department spokesperson confirmed. The 5.5% interest rate applies to both direct subsidized and unsubsidized undergraduate loans. Existing federal loans have not been accruing interest since the pandemic pause on payments and interest went into effect in 2020. It's possible you could find a better interest rate with a private lender, but federal student loans come with benefits that could wind up being more valuable than a lower rate.

☆ Meet a mom with $610,000 in student debt who still can't separate her balance from her ex-husband's 8 years after their divorce: 'This one thing is still holding me stuck to him'
▼ + stars: | 2023-05-07 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Dawn Rose, 53, has $610,000 in student debt after combining balances with her then-husband in 1999. They divorced in 2015, but Rose is stuck paying off her ex-husband's debt. After taking out student loans for four semesters of college, Rose said her husband — now ex-husband — was finishing his master's degree, which was also financed by student loans. Now Rose is stuck paying off $610,000 in student debt, per documents reviewed by Insider — the majority of which she said belonged to her ex-husband. Dawn Rose, 53, has $610,000 in student debt.

☆ Florida expands Gov. Ron DeSantis' so-called 'Don't Say Gay' law to all grade levels
▼ + stars: | 2023-04-19 | by ( Associated Press | ) www.businessinsider.com time to read: +3 min

Florida's Board of Education approved expanding the rules of the so-called "Don't Say Gay" law through 12th grade. Currently, the state bans lessons on sexual orientation and gender identity from kindergarten through 3rd grade. Ron DeSantis requested expanding the ban as he gears up for an expected presidential run. The current law is also the root of an ongoing feud with Disney, one of the state's largest employers and political donors. DeSantis has directed the chief inspector general to investigate the Disney board's move and vowed to take additional revenge against the company through legislation.

☆ This new paperwork rule could make getting student-loan forgiveness easier for government and nonprofit workers
▼ + stars: | 2023-04-13 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

The Education Department updated guidance for applying for Public Service Loan Forgiveness. Previously, strict paperwork requirements caused many borrowers' applications to be rejected. President Joe Biden's Education Department updated guidance for the Public Service Loan Forgiveness (PSLF) program, which is intended to forgive student debt for government and nonprofit workers after ten years of qualifying payments. "FSA has begun to implement and test a digital employer signature for PSLF," an Education Department spokesperson told Insider. In October 2021, it implemented a limited-time waiver to allow previously ineligible payments to count toward a borrower's loan forgiveness progress.

☆ Rodents beware: New York City hires first 'rat czar'
▼ + stars: | 2023-04-12 | by ( Joseph Ax | ) www.reuters.com time to read: +2 min

[1/3] A rat jumps into a puddle in the snow in the Manhattan borough of New York City, New York, U.S., December 2, 2019. REUTERS/Carlo Allegri/File PhotoApril 12 (Reuters) - New York City's unending war on rats has a new commanding general. Mayor Eric Adams on Wednesday announced that Kathleen Corradi, an education department employee, has been appointed New York’s first-ever "rat czar," part of Adams’ effort to combat a growing rodent population in the county’s most populous city. She previously oversaw rat mitigation efforts in the city’s public schools. The size of the city’s rat population is unknown.

☆ Biden's Education Department just pushed back the deadline for student-loan borrowers to see debt relief through a one-time reform
▼ + stars: | 2023-03-20 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Education Department announced a one-time account adjustment for borrowers in PSLF and income-driven repayment plans. It comes as Federal Student Aid did not receive any additional funding to implement reforms to a series of debt relief programs. PSLF promises debt relief for government and nonprofit workers after ten years of qualifying payments, and IDR plans give borrowers affordable monthly payments based on their income with the promise of debt relief after at least 20 years. According to new guidance on Federal Student Aid's website, though, the deadline for borrowers to receive relief through the account adjustment got pushed back. All borrowers can do right now is wait for updates from the department regarding the implementation of reforms — and of course, the Supreme Court's decision on broad debt relief.

☆ Biden wants to 'better support' student-loan borrowers who are returning to repayment. It's further confirmation the payment pause will end this year.
▼ + stars: | 2023-03-09 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

It included increased funding for the Federal Student Aid office to help the return to repayment this year. It comes after SoFi filed a lawsuit to end the payment pause and throw borrowers back into repayment. This budget release also comes in a time of significant uncertainty for student-loan borrowers. "This additional funding is needed to provide better support to student loan borrowers, especially as they return to repayment," the budget said. "The Department will continue to fight to deliver relief to borrowers, provide a smooth path to repayment, and protect borrowers from industry and special interests."

☆ 3 reasons why a major student-loan lender thinks millions of borrowers should be thrown back into repayment, with or without debt relief
▼ + stars: | 2023-03-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

Student-loan lender SoFi filed a lawsuit to end the student-loan payment pause. The administration pushed back on the lawsuit, saying the payment pause is legal. Here are three reasons why SoFi thinks it's time for millions of student-loan borrowers to start paying off their debt. SoFi has suffered revenue loss from the payment pauseSoFi laid out direct harm the student-loan payment pause has caused its business. If the court does not end the entire student-loan payment pause, SoFi is asking that borrowers ineligible for broad relief reenter repayment and place a permanent injunction preventing the Education Department from giving those borrowers additional relief.

☆ President Biden just announced updates to student loan repayment—here's what borrowers need to know
▼ + stars: | 2023-01-12 | by ( Kamaron Mcnair | ) www.cnbc.com time to read: +4 min

The Biden Administration released details this week on its plan to overhaul the current income-driven repayment plan known as Revised Pay As You Earn plan (REPAYE) for federal student loan borrowers. All student borrowers with direct federal loans (not parent PLUS loans) are eligible for REPAYE repayment plans. The change would also stop interest from accruing on balances while borrowers qualify for $0 monthly payments. No interest accumulation while making regular paymentsUnder the current REPAYE plan, sometimes borrowers' monthly payments are lower than the interest accrued on the loan. Those who borrowed $12,000 or less would be eligible for loan forgiveness after 10 years of monthly payments.

☆ A Texas superintendent ordered school librarians to remove LGBTQ books. Now the federal government is investigating.
▼ + stars: | 2022-12-20 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | Mike Hixenbaugh | ) www.nbcnews.com time to read: +11 min

The U.S. Education Department’s civil rights enforcement arm has launched an investigation into a North Texas school district whose superintendent was secretly recorded ordering librarians to remove LGBTQ-themed library books. The comments, combined with the district’s subsequent decision to remove dozens of library books pending a review, fostered a “pervasively hostile” environment for LGBTQ students, the ACLU wrote in its complaint. Last year, voters in Granbury elected a pair of school board members who campaigned against LGBTQ-affirming school curricula and library books. “These comments, combined with the book removals, really send a message to LGBTQ students in the districts that: ‘You don’t belong here. Lou Whiting, a student at Granbury High School, becomes emotional after speaking against the removal of LGBTQ books at a Granbury school board meeting in March.

☆ 9 million people received student debt forgiveness emails with an error—here's what borrowers need to know
▼ + stars: | 2022-12-15 | by ( Kamaron Mcnair | ) www.cnbc.com time to read: +2 min

President Joe Biden's student debt forgiveness plan is still on hold for everyone. But at least 9 million borrowers may have further confusion about their debt forgiveness. The subject line on the erroneous emails read "Your Student Loan Debt Relief Plan Application Has Been Approved." The error affected borrowers with loans serviced by Accenture Federal Services, and has no impact on the borrower's debt relief. Sign up now: Get smarter about your money and career with our weekly newsletterDon't miss: Student debt forgiveness is on hold for now—here's why it's blocked and what could happen next

☆ 9 million student-loan borrowers are now receiving correction emails after mistakenly being told last month they were approved for debt relief
▼ + stars: | 2022-12-13 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

9 million student-loan borrowers mistakenly received a November email saying they were approved for debt relief. Insider was the first to report two weeks ago that on November 22-23, nine million student-loan borrowers received an email with an incorrect subject line informing them that their debt relief had been approved. According to an email reviewed by Insider, the new subject line reads: "CORRECTION: Status of Your Student Loan Debt Relief Application." Screenshot of the first part of the student debt correction email, as provided by a borrower. His administration continues to express confidence that the broad debt relief will ultimately prevail in court.

☆ 9 million student-loan borrowers got an email in November with the wrong subject line informing them their debt relief has been approved. Corrections are coming.
▼ + stars: | 2022-12-03 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

9 million student-loan borrowers received an email in late November with a subject line that their debt relief had been approved. It should have stated the applications had been received, not approved — an error made by an Education Department contractor. However, that subject line was incorrect, Insider has learned — it was simply supposed to inform borrowers that their applications had been received with the subject line: "Update on Student Loan Debt Relief." The department has previously indicated that 26 million student-loan borrowers had already submitted applications for debt relief. "Our student debt relief program is necessary to help 40M eligible Americans struggling under the burden of student loan debt recover from the pandemic," Education Secretary Miguel Cardona wrote on Twitter on Thursday.

☆ Biden announced an extension of the student loan payment pause. These 3 factors will determine when you need to start making payments again.
▼ + stars: | 2022-11-23 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

Biden extended the student-loan payment pause through June 30, 2023 at the latest. The extension was in response to two federal courts that have blocked the debt relief. Payments could resume earlier if lawsuits are resolved before June 30. "So today, @USEDGov is announcing an extension of the pause on student loan repayment, interest, and collections." Even if the lawsuits are not resolved by June 30 and relief has not been permitted, borrowers will still have to resume student-loan payments 60 days after that date.

☆ Education Department launches beta website for student loan forgiveness applications
▼ + stars: | 2022-10-15 | by ( Zoë Richards | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | ) www.nbcnews.com time to read: +3 min

The Department of Education launched a beta test of its website Friday allowing federal student loan borrowers to begin submitting applications for some debt relief. Applications won't be processed until the site officially launches later this month, but borrowers who submit an application during the beta testing period will not need to reapply, an Education Department spokesperson said. Biden announced his student debt relief plan in August. NBC News has reached out to the Education Department for comment. The Education Department previously said that applications would available in early October.

☆ This map shows how many people in each state could benefit from Biden's student loan forgiveness
▼ + stars: | 2022-09-26 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +4 min

President Joe Biden's recently announced student debt forgiveness could impact states differently. The estimated share of a state's population that is eligible for student loan forgiveness varies across the US. Insider looked at how many people could be eligible for student loan forgiveness after adjusting by population. As The Columbus Dispatch reported, over 94% of student loan borrowers in Ohio could be eligible for this student loan relief. Even in the states where Republicans have opposed Biden's debt relief, millions of borrowers could benefit.

☆ 22 GOP state governors are trying to block Biden's student-loan forgiveness even though millions of their residents could benefit
▼ + stars: | 2022-09-20 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

22 GOP state governors urged Biden to withdraw his student-loan forgiveness plan. Millions of borrowers would likely qualify for the debt cancellation in the 22 GOP-led states. In 11 states, over 1 million borrowers are projected to be eligible for the loan forgiveness, per the data, with California leading the list at 3.5 million borrowers. Since Biden announced his relief, Republicans have been pushing back on the policy — some have even expressed intent to block the loan forgiveness in court. "Nearly 20 million borrowers will have their entire balances discharged, others will benefit from lower balances and lower payments."

☆ A worker at a student-loan company says the 'lack of guidance' from Biden's Education Department on debt cancellation is hurting borrowers: 'I'm just so worried people are going to be left out'
▼ + stars: | 2022-09-18 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

A student-loan company worker expressed concern with the lack of guidance on Biden's debt relief. "There's a complete lack of guidance from the Education Department on what to advise borrowers," the worker, who requested to remain anonymous but whose identity is known to Insider, said. The worker specifically assists borrowers within the Federal Family Education Loan (FFEL) program, who have loans that are commercially-held and not eligible for federal relief. Currently, the Education Department is advising those borrowers to consolidate their loans into direct federal loans so they can qualify for forgiveness. In response to the worker's concerns, an Education Department spokesperson pointed Insider to the FFEL guidance already on its website and did not have any additional details to provide.

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