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

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

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

☆ Biden's new plan for student-loan forgiveness is entering its next key stage — and millions of borrowers will have a say on what the relief looks like
▼ + stars: | 2024-04-16 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +1 min

Biden released the draft text for his new student-loan forgiveness plan. The Education Department aims to begin implementing the relief as early as this fall. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMillions of student-loan borrowers are moving closer to President Joe Biden's new plan for debt cancellation. On Tuesday, the Education Department released its first set of draft rules for Biden's second attempt at student-debt relief after the Supreme Court struck the first plan down.

Persons: Biden, —, Joe Biden's Organizations: Department, Service, Education Department, Higher, Business

☆ Takeaways from the second day of jury selection in Trump’s hush money trial
▼ + stars: | 2024-04-16 | by ( Jeremy Herb | Lauren Del Valle | ) edition.cnn.com time to read: +9 min

That process prompted Judge Juan Merchan to sternly admonish Trump for his conduct toward the first juror questioned about her social media. That gave Trump’s team the chance to mine their public social media postings to be ready for their challenges to the judge. As for the three jurors Merchan did not strike: Trump’s side used its preemptory challenges to remove all of them anyway. The juror was later struck for cause by the judge on a challenge from Trump’s team over his social media posts. But the judge is hoping to wrap up jury selection this week.

Persons: Donald Trump’s, Juan Merchan, admonish Trump, foreperson, Trump, Trump’s, Todd Blanche, Merchan, –, Joe Biden, “, ” Merchan, Blanche, Joshua Steinglass, Michael Cohen, Steinglass, it’s, meanwhile, that’s Organizations: CNN, Trump, Facebook, Prosecutors, Democrat Locations: New York, Ireland

☆ How Biden's new student-loan forgiveness plan could be jeopardized before it even goes into effect
▼ + stars: | 2024-04-14 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

New details for President Joe Biden's student-loan forgiveness plan are out — and it's already shaping up to be a rocky road to implementation. Related storiesCoglianese is referring to a rule known as the Chevron doctrine, the fate of which is currently awaiting a Supreme Court ruling. AdvertisementHerrine said he expects the same groups who brought the cases against Biden's first debt relief plan to challenge this second one. "The administration is certainly still facing a very skeptical Supreme Court," Coglianese said. "Even though it's a different statute, it's still a skeptical Supreme Court.

Persons: Joe Biden's, Biden's, Biden, —, Cary Coglianese, Coglianese, Chevron, Raimondo, Luke Herrine —, Herrine, Andrew Bailey, it's, It's Organizations: Service, Education Department, Higher, Business, The Education Department, University of Pennsylvania, Loper Bright Enterprises, National Marine Fisheries, Supreme, Biden, Chevron, University of Alabama — Locations: Chevron, Missouri

☆ N.Y.C. Schools Chief to Testify as Congress Expands Antisemitism Inquiry
▼ + stars: | 2024-04-12 | by ( Troy Closson | ) www.nytimes.com time to read: +1 min

The chancellor of New York City’s public schools will testify about how the district is handling antisemitism before a congressional committee next month. A spokesman for the House Committee on Education and the Workforce confirmed that Mr. Banks was asked to attend the hearing, but did not identify the other districts. The earlier congressional hearings helped trigger the resignations of the presidents of Harvard and the University of Pennsylvania. Columbia University’s president is appearing before a congressional committee next week. The inquiry next month will offer a window into how the tensions on American college campuses are also stirring painful debates in public school communities.

Persons: David C, Banks Organizations: New, Education, Workforce, Harvard, University of Pennsylvania, Columbia Locations: New York, Israel

☆ 277,000 student-loan borrowers who have 'paid what they can afford' for at least a decade are getting $7.4 billion in debt wiped out
▼ + stars: | 2024-04-12 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Biden announced another $7.4 billion in student-debt relief for 277,000 borrowers. It impacts borrowers on the SAVE plan, along with others on income-driven repayment plans and PSLF. The new relief comes just after Biden released new details for his broader student-debt relief plan. On Friday, President Joe Biden and the Education Department announced that 277,000 more borrowers will get $7.4 billion in debt relief. Still, the administration is moving forward with more targeted efforts for debt cancellation through its fixes to repayment plans, recently announcing $1.2 billion in relief for 153,000 borrowers through the SAVE plan.

Persons: Biden, —, Joe Biden, Education James Kvaal, Biden's Organizations: Service, Education Department, Public, Education, SAVE, Biden, Higher, GOP, Republican

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

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

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

☆ Biden’s new student loan forgiveness plan could start eliminating debts before the 2024 presidential election
▼ + stars: | 2024-04-10 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

US President Joe Biden speaks about student loan relief at Madison College in Madison, Wisconsin, on April 8, 2024. Andrew Caballero-reynolds | AFP | Getty ImagesThe Biden administration is moving ahead quickly with its new student loan forgiveness plan, with hopes of starting to wipe out people's debts as soon as this fall. Student loan forgiveness falls into that category, he said. Almost half of voters in a recent survey, or 48%, said canceling student loan debt is an important issue to them in the 2024 presidential and congressional elections. Issues like student loan forgiveness, which present a sharp contrast between Democrats and Republicans, are more likely to impact the election.

Persons: Joe Biden, Andrew Caballero, reynolds, Biden, Mark Kantrowitz, Kantrowitz, Gen, Donald Trump, Michael M, George W, Bush, Trump, Mark Organizations: Madison College, AFP, Getty, Republicans, Republican, Santiago, Public, Supreme Locations: Madison , Wisconsin, New York City

☆ Nvidia and Georgia Tech announce first AI supercomputer for students
▼ + stars: | 2024-04-10 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Nvidia and the Georgia Institute of Technology announced Wednesday the first artificial intelligence supercomputer designed for student use. At first, only Georgia Tech's undergraduate students will be able to use the computing cluster, which is fueled by Nvidia's enterprise AI software and a "virtual gateway" developed by Penguin Solutions. So far, students have used the supercomputer in just one class — foundations of machine learning — since the beginning of the semester, but Georgia Tech plans to continue scaling usage. Georgia Tech's supercomputer runs on 20 Nvidia HGX H100 systems, which house 160 of Nvidia's H100 GPUs, which are high in demand across the tech industry. For reference, it would take one of these 160 GPUs a single second to come up with a multiplication function that would take 50,000 students 22 years, according to a Georgia Tech release.

Persons: Jensen Huang, Raychowdhury Organizations: Nvidia, Georgia Institute of Technology, Penguin Solutions, Georgia Tech, Georgia Tech's School of Electrical, Computer Engineering, CNBC, Arizona State University, ChatGPT Enterprise, Georgia Tech's Locations: Georgia

☆ Student Aid Woes Stalk Cardona During Appearance on Capitol Hill
▼ + stars: | 2024-04-10 | by ( Zach Montague | ) www.nytimes.com time to read: +1 min

As Miguel A. Cardona, the education secretary, appeared before lawmakers on Wednesday to make his agency’s case for funding next year, members of both parties had something else on their minds: this year’s chaotic college admissions process. Republicans peppered him with questions about the botched rollout of the new Free Application for Federal Student Aid form, which has derailed college admissions this year. Several of them asked whether the agency had diverted resources away from the project in its pursuit of canceling student debt. “There’s nothing more important right now at the Department of Education,” Mr. Cardona told the House Appropriations Committee of the aid form, saying that the agency was successfully juggling multiple priorities with the resources available. “We’re working on this around the clock.”While Mr. Cardona was testifying, the House Subcommittee on Higher Education and Workforce Development held a separate hearing where lawmakers from both parties said the problems with the aid form had harmed aspiring college students.

Persons: Miguel A . Cardona, ” Mr, Cardona Organizations: Federal, Department of Education, Higher Education, Workforce Development

☆ Simon Harris becomes Ireland’s youngest-ever leader
▼ + stars: | 2024-04-09 | by ( Rob Picheta | ) edition.cnn.com time to read: +7 min

CNN —Simon Harris has become the youngest-ever prime minister of Ireland, officially taking office in Dublin on Tuesday after Leo Varadkar suddenly stepped down last month. Harris, 37, ran unopposed to replace Varadkar as leader of the ruling Fine Gael party, and the final formalities of his rise to power were completed in the Dáil, Ireland’s parliament. And we are seeing innocent children, women, and men being starved and slaughtered,” Harris told lawmakers in the Irish parliament. The son of a taxi driver, born in eastern Ireland, Harris studied journalism and French at a Dublin university but dropped out to instead focus on politics. As health minister, Harris was prominent when Ireland voted to legalize abortion.

Persons: CNN — Simon Harris, Leo Varadkar, Harris, Varadkar, Sinn Fein, Israel, “, ” Harris, Fine, ”, Brian Lawless, Simon Harris ”, “ chillax, “ Didn’t, chillax, …, Jennifer Bray, Enda Kenny, Harris’s Organizations: CNN, Ireland, Fine Gael, Irish Republican Army, Irish, Hot Press, Varadkar, Twitter, “, Sky News Locations: Dublin, Ireland’s, Ireland, Gaza, “, Northern Ireland

☆ Student-loan borrowers could benefit from Biden's new debt cancellation plan as early as this fall. Here's what you need to know.
▼ + stars: | 2024-04-09 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Read previewA new student-loan forgiveness plan is coming — and millions of borrowers could benefit. President Joe Biden's administration unveiled new details for a student-debt relief proposal that could benefit over 30 million borrowers. AdvertisementI said I wouldn't back down from using every tool at our disposal to get student loan borrowers the relief they need. That's why today we're announcing new plans that, if implemented, would cancel student debt for millions more. They include:Up to $20,000 in debt relief for over 25 million borrowers whose balances have grown due to unpaid interest.

Persons: —, Joe Biden's, Biden, rNiCxzzlU3 —, Biden's Organizations: Service, Business, House, Public, Federal, GOP Locations: Madison , Wisconsin

☆ We are overly reliant on student loans to fund higher education, says NACAC CEO Angel Perez
▼ + stars: | 2024-04-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are overly reliant on student loans to fund higher education, says NACAC CEO Angel PerezAngel Perez, National Association for College Admission Counseling CEO, joins 'Squawk Box' to discuss the chaotic college admissions season, the Biden administration's botched financial aid rollout, student loan forgiveness, and more.

Persons: Angel Perez Angel Perez, Biden Organizations: National Association for College

☆ 25 million student loan borrowers could see their balances shrink under Biden’s new forgiveness plan
▼ + stars: | 2024-04-08 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +2 min

President Joe Biden and his administration are moving forward with plans to provide student debt relief to as many people as possible. The administration announced Monday the details of its new plan to reduce student debt balances for millions of borrowers. "[The] plan is focused on the reasons that people are struggling with their student loan debt," James Kvaal, Under Secretary of Education, told CNBC Make It. As with Biden's previous student debt forgiveness proposals, it's possible this plan will come under legal scrutiny if challenged by opponents. Here's the relief borrowers may expect to see in the coming months.

Persons: Joe Biden, James Kvaal, Kvaal Organizations: Education, CNBC, Higher

☆ Grindr won its first batch of Wall Street initiations. Here's what analysts are saying
▼ + stars: | 2024-04-07 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

About a year and a half after going public, Grindr is starting to win Wall Street's praise. Over the past two weeks, three investment firms began coverage of the dating platform focused on LGBTQ+ men. That focus, once something seen as taboo or unappealing in society, is a plus for analysts, who say the qualities typically associated with gay men make them a solid consumer base to cater toward. "While LGBTQ[+] acceptance is rising, Grindr can help gay men meet for a wide range of purposes under a wide range of societal conditions." "Grindr has established itself as the leading LGBTQ+ social dating app through strong brand awareness, despite its relatively nascent tech.

Persons: Grindr, Raymond James, Andrew Marok, Marok, Nicholas Jones, Jones, GRND, LSEG, Bumble, TD Cowen, John Blackledge, Raymond James ' Marok, Blackledge Organizations: U.S

☆ Michael Bloomberg is worth an estimated $106 billion — but you won't find him on the Bloomberg rich list
▼ + stars: | 2024-04-07 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Read previewThe release of Forbes' annual rundown of the world's billionaires has underlined a glaring omission from the Bloomberg Billionaires Index: Michael Bloomberg himself. Forbes ranked the 82-year-old Bloomberg LP founder in 12th place with an estimated $106 billion fortune as of March 8. Based on Forbes' wealth estimate, Bloomberg would be in joint 12th position with Michael Dell (also $106 billion) as of Thursday. Related storiesThe Bloomberg Index's methodology explains why the boss is missing: "Bloomberg News editorial policy is to not cover Bloomberg LP. As a result, Michael Bloomberg, the founder and majority owner of Bloomberg LP, isn't considered for this ranking."

Persons: —, Michael Bloomberg, Sergey Brin, Amancio Ortega, Carlos Slim Helu, Michael Dell, isn't, Forbes, Jensen Huang, Salomon Brothers, He's Organizations: Service, Forbes, Bloomberg, Business, Nvidia, Waltons, CVS Health, GM, New York City's Locations: Inditex, New York

☆ Biden administration will soon roll out a sweeping new student loan forgiveness plan
▼ + stars: | 2024-04-05 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

U.S. President Joe Biden delivers remarks on canceling student debt at Culver City Julian Dixon Library on February 21, 2024 in Culver City, California. The Biden administration will soon roll out a sweeping new student loan forgiveness proposal that could impact millions of Americans. Almost half of all voters, or 48%, say canceling student loan debt is an important issue to them in the 2024 presidential and congressional elections, a recent survey found. Forgiving student debt could especially help Biden with young voters, a demographic he's been struggling with. Around 70% of Gen Z respondents said student debt cancelation was important to them in the election.

Persons: Joe Biden, Culver City Julian, Biden, Joe Biden's, Mark Kantrowitz, Gen, cancelation Organizations: Culver City, Culver City Julian Dixon Library, Street, Finance Locations: Culver City , California, Madison , Wisconsin

☆ Student-loan borrowers in public service are facing a key change starting in May — and it'll mean delays in their debt cancellation progress
▼ + stars: | 2024-04-03 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Read previewSome key changes are on the way for thousands of federal student-loan borrowers in public service. President Joe Biden's Education Department recently posted new guidance on Federal Student Aid's website with updates to the Public Service Loan Forgiveness program. Once PSLF processing resumes in July, borrowers' loans will remain with their servicer, but the Education Department will fully manage the program. As a result, borrowers can view their PSLF payments directly on studentaid.gov, access "enhanced" services like status tracking for their applications, and see quicker processing times for PSLF. AdvertisementOn top of this transition, MOHELA is in the process of transitioning borrowers to a new servicing platform, which could mean up to 30-day delays in posting payments.

Persons: —, Joe Biden's, MOHELA, that'll, PSLF, Grant, Massachusetts Sen, Elizabeth Warren, Warren, Chuck Schumer, Sen, Bernie Sanders Organizations: Service, Joe Biden's Education Department, Federal, Public, Business, Teacher, College And Higher, Federal Student Aid, Education Department, PSLF, Protection Locations: Massachusetts

☆ There might be a better way for colleges to honor legacies without giving them preference in admissions
▼ + stars: | 2024-04-02 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

AdvertisementUsing 2021-2022 admissions data from the Common Data Set — a College Board Initiative — the report found that selective and private colleges were most likely to use legacy preference in their admissions. The University of Nebraska, for example, offers $14,000 a year for legacy students from out-of-state. Another example is Drake University, which offers a $2,500 per year award to legacy students. Business Insider has previously reported on the precedent continued legacy preference is setting for the future of higher education. AdvertisementMurphy said he's most worried about legacy preference in admissions, and while legacy scholarships might not send the best message, "if every college in the country drops legacy preferences and hold on to legacy scholarships, I'm fine with that."

Persons: James Murphy, who's, Murphy, Leslie Reed, Drake, he's Organizations: Service, Business, Brookings, College Board Initiative, Reform, University of Nebraska, Drake University, Ivy League

☆ A roundtable with LeBron James and SpringHill Company interns helped shape his new men's grooming line inspired by 'The Shop'
▼ + stars: | 2024-04-02 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +3 min

Read previewLeBron James and Maverick Carter's company has launched a men's grooming collection inspired by "The Shop." "There was even a moment where we had Travis Scott as a guest, where he said he Googles face routines and men's grooming routines." According to data from market research company Grand View Research, the global market for men's grooming products was valued at $202.6 billion in 2022. AdvertisementCarter told BI that young consumers willing to ignore stereotypes surrounding men's grooming have helped bolster that growth. Purchase The Shop grooming collection at Walmart now.

Persons: —, LeBron James, Maverick, James, Carter, Paul Rivera, LeBron James himself, Rivera, Travis Scott Organizations: Service, SpringHill Company, Business, View Research, Walmart Locations: New York, SoHo

☆ Tuition now costs a whopping $90,000 a year or more at some US universities
▼ + stars: | 2024-04-01 | by ( Madeline Berg | ) www.businessinsider.com time to read: +4 min

Some American universities estimate their total cost of attendance will exceed $90,000 next year. Tuition and fees at universities have continued to climb, even when adjusted for inflation. The result may be a generation of students wondering if college is worth it. AdvertisementThe price of getting a degree has continued to climb at American universities, with the cost of some schools reaching a new threshold. Out-of-state and in-state tuition and fees at public universities have risen by about 38% and 56%, adjusted for inflation, over the same period.

Persons: —, Gen, Ana Hernández Kent, Louis Organizations: Service, New York University, Tufts, University of Pennsylvania, Yale, NYU, Board, U.S . News, for Higher, of Education, Universities, Institute for Higher Education, Institute for Economic Equity, Federal Reserve Bank of St Locations: U.S

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

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

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

☆ Gen Z isn't sure higher education is worth it — and it might be taking a toll on Harvard
▼ + stars: | 2024-04-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +1 min

Applications to Harvard declined 5.14% this year, compared to last year. The decline follows controversy at Harvard surrounding its response to antisemitism. It could also reflect a larger trend in Gen Zers no longer valuing higher education. This data also comes after the school reported a 17% decline in applications for early admissions in December. This story is available exclusively to Business Insider subscribers.

Persons: Zers, — Organizations: Harvard, Service, Boston Ivy League, Business

☆ Russia's Putin signs decree on spring military conscription
▼ + stars: | 2024-03-31 | by ( ) www.cnbc.com time to read: +1 min

Russian President Vladimir Putin addresses troops from the defense ministry, National Guard, FSB security service and interior ministry in central Moscow on June 27, 2023. Russian President Vladimir Putin has signed a decree setting out the routine spring conscription campaign, calling up 150,000 citizens for statutory military service, a document posted on the Kremlin's website showed on Sunday. All men in Russia are required to do a year-long military service, or equivalent training during higher education, from the age of 18. Compulsory military service has long been a sensitive issue in Russia, where many men go to great lengths to avoid being handed conscription papers during the twice-yearly call-up periods. In September Putin signed an order calling up 130,000 people for the autumn campaign and last spring Russia planned to conscript 147,000.

Persons: Vladimir Putin, Putin Organizations: National Guard Locations: Moscow, Russia, Ukraine

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

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

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

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