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☆ Student-loan borrowers are about to find out if they'll get Biden's debt cancellation
▼ + stars: | 2023-06-29 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Supreme Court will decide on Biden's student-loan forgiveness plan on Friday. It's an issue justices highly scrutinized during oral arguments for the student-debt relief cases in February. Of course, past rulings are not a clear indicator of what the court will decide on student-loan forgiveness — and the issue remains highly controversial. Some Democratic lawmakers, meanwhile, have vowed to do whatever it takes to ensure student-loan borrowers can get relief — and the White House continues to maintain confidence in the legality of Biden's plan. We certainly hope the Supreme Court agrees, because we know all too well what the stakes are for millions of students."

Persons: Biden, —, Brown, It's, . Texas —, Amy Coney Barrett, Brett Kavanaugh, General, Olivia Dalton, we've Organizations: Service, . Nebraska, US Department of Education, Republican, Education Department, . Texas, GOP, Democratic, DOJ Locations: ., Missouri, United States

☆ Student-loan borrowers are less than 24 hours away from finding out if they'll get Biden's debt cancellation
▼ + stars: | 2023-06-29 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Supreme Court will decide on Biden's student-loan forgiveness plan on Friday. It's now up to the Supreme Court to decide if the loan forgiveness is legal, or if it cannot move forward. It's an issue justices highly scrutinized during oral arguments for the student-debt relief cases in February. Of course, past rulings are not a clear indicator of what the court will decide on student-loan forgiveness — and the issue remains highly controversial. We certainly hope the Supreme Court agrees, because we know all too well what the stakes are for millions of students."

☆ The fate of millions of student-loan borrowers is set to be decided this week
▼ + stars: | 2023-06-26 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The Supreme Court is set to decide on Biden's student-loan forgiveness plan this week. Recent rulings from the court could shed light on how it might handle the debt relief cases. The Supreme Court is now entering the last week of its term, and it's set to hand down all remaining decisions on pending cases. And recent rulings from the Supreme Court shed light on how justices are taking a stricter look at standing issues . Of course, it's unclear if the Supreme Court will handle the student-debt cancellation cases in the same manner.

Persons: —, Joe Biden's, Biden's, Brown, Biden, Amy Coney Barrett, Brett Kavanaugh, Barrett, Kavanaugh, they're, Alexandria Ocasio, Cortez Organizations: Service, US Department of Education, GOP, Liberal, Indian Child Welfare, . Texas, Texas, Department of Homeland Security, Education Department, Democratic, New York Rep Locations: . Nebraska, Brackeen , Texas, States, ., Texas, Alexandria, United States

☆ Why Biden's student-loan forgiveness plan might not be doomed after 2 new rulings from conservative Supreme Court justices
▼ + stars: | 2023-06-24 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Two recent Supreme Court rulings have struck down cases due to a lack of states' standing to sue. In February, the Supreme Court heard oral arguments in the two lawsuits that paused the implementation of Biden's plan to cancel up to $20,000 in student debt for federal borrowers. And that's what the Supreme Court has done with two recent rulings. "In Justice Barrett's own words, the ruling for student debt relief should be 'open and shut' in favor of mostly low-income families burdened with the crushing weight of student debt." Student loan borrowers and advocates gather for the People's Rally To Cancel Student Debt During The Supreme Court Hearings On Student Debt Relief on February 28, 2023 in Washington, DC.

Persons: —, Joe Biden's, Brown, Biden, they'd, Amy Coney Barrett, Barrett, Brett Kavanaugh, Kavanaugh, Braxton Brewington, Barrett's, Countess, MOHELA, James Campbell Organizations: GOP, Service, US Department of Education, Republican, Indian Child Welfare, . Texas, Department of Homeland Security, Supreme, Relief, Getty, Nebraska who's Locations: . Nebraska, Texas, States, ., Louisiana, Washington ,, United States, scrutinizing, Missouri

☆ Conservative Justice Brett Kavanaugh rules states can't sue the government just over 'indirect' harm from a federal policy. One of the lawsuits blocking Biden's student-debt relief involves 6 states d
▼ + stars: | 2023-06-23 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Justice Brett Kavanaugh authored a new opinion that ruled two states didn't have standing to sue the government. It's the second case led by a conservative justice that scrutinizes a state's standing to sue. The Supreme Court ruled 8-1 that the states lack standing to bring the suit, with Justice Sam Alito as the lone dissent. "But in our system of dual federal and state sovereignty, federal policies frequently generate indirect effects on state revenues or state spending. Kavanaugh's opinion was, of course, only responding to the Texas case and there was no reference to the pending student-debt relief cases.

Persons: Brett Kavanaugh, didn't, —, Joe Biden's, Kavanaugh, Sam Alito, they'd, Brown, Biden, MOHELA, weren't, Ketanji Brown Jackson, Amy Coney Barrett, Barrett Organizations: GOP, Service, Conservative, . Texas, Department of Homeland Security, US Department of Education, . Nebraska, Republican, Indian Child Welfare Locations: States, ., Texas, Louisiana, United States

☆ DeSantis sues Biden administration over education standards that control access to federal student loans, in early sign about his plans for colleges if he's elected president
▼ + stars: | 2023-06-22 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +7 min

Ron DeSantis of Florida is suing the Biden administration over a federal law requiring colleges and universities to get a quality stamp of approval from certain accrediting agencies. The association recently threatened Florida State University's accreditation when it was considering hiring Richard Corcoran, the state's former education commissioner, as its university president. Ron DeSantis signs a Florida education bill into law. 1 in higher education, largely because of its high graduation rates and low tuition. More broadly, Republicans have developed a hostile relationship with higher education institutions in recent years, viewing them as aligned with liberal policies and even decrying them as "Marxist."

Persons: DeSantis, Biden, —, Ron DeSantis, We're, they're, accreditors, Richard Corcoran, Ashley Moody, Moody, Douglas R, Clifford, Donald Trump Organizations: Service, Gov, Biden, US Department of Education, Hillsborough Community College, Southern Association of Colleges and Schools, Colleges, Department of Education, Florida State, University of Florida, United States, Court, Southern District of, White, Florida Gov, Tampa Bay Times, AP, US News, The Education Department, New College of Florida, Republicans Locations: Florida, Tampa , Florida, Texas, Virginia, Fort Lauderdale, Southern District, Southern District of Florida, Tampa, Sarasota

☆ Justice Sam Alito took a luxury fishing trip with a billionaire who supports a group that wants to block Biden's student-loan forgiveness
▼ + stars: | 2023-06-21 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

ProPublica reported that Justice Sam Alito took a luxury fishing trip with billionaire Paul Singer in 2008. Both Singer and Alito denied discussing any business interests related to SCOTUS cases on the trip. That group also filed an amicus brief with the Supreme Court asking it to block Biden's relief plan — a decision the court is expected to hand down in the coming days. The spokesperson also said that Singer did not have "any pending matters before the Supreme Court, nor could Mr. Singer have anticipated in 2008 that a subsequent matter would arise that would merit Supreme Court review." "On no occasion have we discussed the activities of his businesses, and we have never talked about any case or issue before the Court," Alito wrote.

Persons: ProPublica, Sam Alito, Paul Singer, Singer, Alito, SCOTUS, —, Jr, Joe Biden's, Biden, Brown, SBPC, Paul Singer's, Miguel Cardona Organizations: Manhattan Institute, GOP, Service, Republican, Congress, Street, Protection Center, . Nebraska, US Department of Education, Network, Judicial, Democratic, Biden Locations: —, Alaska, ., Brown, Brown and Nebraska

☆ The 31 colleges with the best bang for your buck
▼ + stars: | 2023-05-01 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +2 min

Most graduating high school seniors have until May 1 to decide where they will go to college. Here are the top 31 colleges based on their return of investment. To get the best bang for your buck, students need to consider how much they'll earn in the future from investing thousands of dollars in tuition, room, and board over the next four years. We ranked the top 31 colleges according to how much that investment will be worth in 40 years in today's dollars. Here are the top 31 colleges with the best return on investment.

CNN —The US Department of Health and Human Services will propose a new rule on Wednesday, aimed at safeguarding privacy and prohibiting the prosecution of individuals who seek abortions. The new rule proposal comes as Vice President Kamala Harris is set to convene an interagency taskforce meeting on reproductive rights at the White House. Attorney General Merrick Garland and Health and Human Services Secretary Xavier Becerra will also attend. After the decision dropped Friday, a senior administration official said the White House immediately began engaging allies on the next steps. Harris has led the administration’s response on abortion rights.

☆ How Charlie Javice's Frank Sale to JP Morgan Wound up in Allegations of Fraud
▼ + stars: | 2023-01-21 | by ( Katherine Long | Jack Newsham | ) www.businessinsider.com time to read: +21 min

Her financial aid startup, Frank, was featured in the New York Times, CNBC and Wall Street Journal. After leaving the University of Pennsylvania's Wharton business school, Javice traded on her reputation, bolstered by glowing profiles, as a successful entrepreneur. In a 2018 interview with Insider, Javice claimed Frank secured an average of $28,000 for its users, and was helping students get "thousands off their tuition." "Charlie's first company fizzled after 18 months, so after losing all her investors' money, she convinced every one of them to fund her next company, Frank." At Frank, Javice admitted she sometimes painted a more positive picture of the company's health than was supported by the facts.

☆ 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.

The Free Application for Federal Student Aid, or FAFSA, is a form used to apply for financial aid. If you're a dependent, you'll need your parents' financial information in addition to your own. Gather your personal financial informationBefore you start filling out the FAFSA, you should gather your basic personal financial information. You log in with a government ID called the Federal Student Aid ID. Work with your school's financial aid office to make up the rest.

☆ Student loan payments are set to resume in September — should you pay now or wait for loan forgiveness?
▼ + stars: | 2022-08-04 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

Borrowers who can afford to pay say it's a 'big deal' to chip away at their principal loan balance. But it's unclear what the government's next steps will be on loan debt and time is running out for students. "One recent study shows that student loan borrowers were more likely to have taken out a first mortgage while payments have been frozen compared with those who have no student loans," Leondis wrote. With the current interest rate at zero, student loan repayments would go directly toward the borrower's principal balance. One Tiktoker who typically posts about student loan forgiveness has advised viewers to "pay attention to communication from (their) loan servicer" in the coming weeks.

☆ As student loan forgiveness looms, half of college students are already behind in trying to complete a bachelor's degree in even 5 years, a study says
▼ + stars: | 2022-08-03 | by ( Michael Goodman | ) www.businessinsider.com time to read: +2 min

A study shows half of college students fall behind in their first year to graduate in 4 years. The average student isn't on track to complete a degree in even 5 years. A new study released last month by the National Student Clearinghouse found that only 51% of full-time college students earned even 24 or more credits in their first year. What's more, the average full-time student attempted fewer than 27 credits in their first year — and earned fewer than 22 credits. Because of existing completion rates, the study said, "this means the average full-time student is not on track to complete a bachelor's degree even in five years."

The US Department of Education suggests students accept aid in the following order: grants and scholarships, work-study programs, subsidized federal loans, unsubsidized federal loans. With that rule in mind, here are the four types of financial aid, ranked from most to least desirable:1. Subsidized federal student loanOnly after accepting any free and earned financial aid should a student consider taking on federal student loans, which generally come in two varieties: subsidized and unsubsidized. Unsubsidized federal student loanBy contrast, unsubsidized federal student loans do accrue interest while the student is in school, beginning from the very first disbursement. Before turning to private loans, make sure you've exhausted all federal sources of financial aid.

Our experts answer readers' student loan questions and write unbiased product reviews (here's how we assess student loans). If you refinance federal student loans, you will be ineligible for COVID-related forbearance. Insider's Featured Student Loan Refinance Companies SoFi Student Loan RefinancingSplash Financial Student Loan RefinancingEarnest Student Loan Refinancing Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Show more Variable: 5.99% - 9.99%, Fixed: 4.99% - 9.99% Editor's Rating 4.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star APR Variable: 4.99% - 10.89% with AutoPay, Fixed: 4.96% - 10.99% with AutoPay Editor's Rating 3.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star APR Actual rate and available repayment terms will vary based on your income. You can only refinance federal student loans with a private lender, as the government has no refinancing program.

Persons: —, codifies, Biden’s, Autopay, Biden, You'll Organizations: Service, Loan, US Department of Education, SoFi, AutoPay, Federal Reserve Bank of New Locations: Federal Reserve Bank of New York, Nevada, forbearance

☆ Master Your Money Bootcamp: Make a list of all your debt balances
▼ + stars: | 2021-04-26 | by ( Tanza Loudenback | ) www.businessinsider.com time to read: +2 min

Welcome to week two of the Master Your Money Bootcamp on demystifying your finances! This week we're focused on managing debt balances. Exercise 2: Figure out how much you owe, to whom, and at what priceNot all debt is bad, but it can be expensive and, at times, messy. Remember, you don't need to be debt-free to be good with money, but you do need to be in control. As a reminder, here's what you'll accomplish in this month's Bootcamp (we'll link to each exercise as it goes live):For each exercise, you'll get a detailed explanation of how to complete it and why it's important.

If you need student loans for college, here's a quick guide on how to choose one. APR Variable: 1.79% - 12.99%, Fixed: 3.22% - 13.95% Editor's Rating 4.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star APR Variable: 3.25% - 13.59%, Fixed: 3.75% - 13.72% Editor's Rating 3.25/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star APR Variable: 2.52% - 11.11%, Fixed: 3.89% - 13.16% Editor's Rating 3.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Find your rate On College Ave's website Find your rate On Sallie Mae's website Find your rate On Ascent's websiteHow to choose a student loan1. Research federal loan optionsWhen you fill out the FAFSA, your award letter will outline which federal student loan options are available to you. For example, federal student loan borrowers who go on to work in the public sector are eligible for student loan forgiveness under the Public Service Loan Forgiveness program. Research private loan optionsIf your federal student loans don't cover all of your costs, you may consider private student loans as well.

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