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☆ The DOGE commission explains how it will reduce head count at federal agencies with a plan to get rid of remote work and offer workers early retirement
▼ + stars: | 2024-11-20 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

AdvertisementElon Musk and Vivek Ramaswamy offered more details on their DOGE government efficiency commission. They said their plans to cut government spending will lead to layoffs across federal agencies. The leaders of President-elect Donald Trump's government efficiency commission have more details on how they will reduce head count across government agencies. With the federal government being the largest employer in the US, with a workforce of over 2 million Americans, the DOGE commission could have a wide-ranging impact. Are you a federal worker with thoughts on DOGE?

Persons: Elon Musk, Vivek Ramaswamy, Donald Trump's, Ramaswamy, Trump, Musk Organizations: Tesla, GOP, Street, of Government, Management, Trump, Treasury Department, Department of Health, Human Services, Social Security Administration, Department of Defense, Congress, Social Security, Medicare

☆ Gen Z fell in love with government jobs. Elon Musk's budget cuts might upend them.
▼ + stars: | 2024-11-19 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +3 min

Elon Musk's government efficiency commission has been tasked with cutting government spending, raising questions about the future of millions of jobs. Business Insider's Ayelet Sheffey and Madison Hoff have a breakdown of the number of employees and salaries at different government departments . Veterans Affairs was the largest employer — 486,522 workers — and more than double the second-biggest department (Homeland Security's 222,539 employees). AdvertisementGovernment jobs' potential reckoning is happening after the public sector got a ton of attention this year. Pay in the public sector largely lags behind private-sector jobs, but that's somewhat offset by good benefits, retirement plans, and job stability.

Persons: Elon, Madison Hoff, Vivek Ramaswamy, Musk, Alice Tecotzky, John L, Dorman, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Department of Education, Veterans Affairs, Department of Government, Social, Medicare, Twitter Locations: Washington , DC, Elon Musk's, New York, Chicago, London

☆ Federal jobs are known for their stability. Now they could be in jeopardy as Musk pushes for deep spending cuts.
▼ + stars: | 2024-11-19 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

Tech: We're in the middle of a white-collar recession, and tech workers are shouldering much of it . We're in the middle of a white-collar recession, and tech workers . AdvertisementElon Musk's government efficiency commission has been tasked with cutting government spending, raising questions about the future of millions of jobs. Tech jobs are mired in a recession. White collar hiring is in a huge slump, and tech workers are some of the hardest hit .

Persons: Trump hasn't, Tesla, Chelsea Jia Feng, Madison Hoff, Vivek Ramaswamy, Musk, Alice Tecotzky, John L, Dorman, Allison Robbert, Scott Bessent, Cantor Fitzgerald, Howard Lutnick, Marc Rowan, Kevin Warsh, Trump, Goldman Sachs, Morgan Stanley, Natalie Ammari, Uber, Verily, —, Rebecca Zisser, Elon Musk, Bluesky —, Jake Paul's, Netflix's Jake Paul, Mike Tyson, wasn't, Donald Trump's, Satya Nadella, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Google, Trump, Tech, Getty, Elon, Department of Education, Veterans Affairs, Department of Government, Social Security, Medicare, Twitter, Getty Government, Allison, Treasury, BCA Research, Goldman, BI, LinkedIn, Microsoft, China Economic, Security, Walmart Locations: Washington , DC, China, Brazilian, New York, Chicago, London

☆ Musk's DOGE wants to 'delete' entire government agencies. Here's where the most people are employed and what they make.
▼ + stars: | 2024-11-18 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +5 min

AdvertisementTrump picked Elon Musk and Vivek Ramaswamy to co-lead DOGE, a new government efficiency commission. Their aim is to cut government spending, and one idea they've floated is to ax federal agencies. Almost half a million people were employed in the Department of Veterans Affairs, while the Department of Education had just over 4,000. Most departments had six-figure average salaries, with the Department of Education and the Department of Energy having the highest averages. AdvertisementWhile DOGE can advise Trump on agencies to cut, the president-elect cannot act on it alone — making major changes to federal agencies would require congressional approval.

Persons: Elon Musk, Vivek Ramaswamy, they've, Elon, Ramaswamy, Karoline Leavitt, Vance, Trump, Musk, Ronald Reagan Organizations: Trump, GOP, Government, Fox News, Management, Department of Veterans Affairs, of Education, Treasury Department, Internal Revenue Service, Department of Education, Department of Energy, Washington DC, Grace Commission, Social Security, Medicare, Social, asheffey Locations: Elon Musk's, Washington, Grace

☆ Meet the Americans stocking up on cars, skincare, and toilet paper ahead of Trump's potential trade restrictions
▼ + stars: | 2024-11-16 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +8 min

For some, the fear of tariffs means stocking up on cars, skincare, and hair products. But following Donald Trump's presidential election victory, Hull heard that car costs could surge if his tariff plans are enacted. On the campaign trail, Trump proposed a 60% tariff on imports from China and 10% to 20% on goods from other countries. AdvertisementConsidering the larger scale of Trump's proposals this time around, trade experts have identified goods, including car parts, apparel, and electronics, as products at risk of getting more expensive under Trump's tariff proposals. With so much uncertainty regarding Trump's tariff proposals, it's difficult to plan.

Persons: Donald Trump, Kristen Hull, Donald Trump's, Hull, Trump, She's, I'm, Indi Dutta, Gupta, Karoline Leavitt, Vance, she's, Dutta, Marissa Garcia, Trump's, Peterson, Garcia, Beatrice Barba, Barba, Lisa Evans, Jonathan Gold, it's, Ford Organizations: Biden, Hull, Business, Georgetown University, Roosevelt Institute, Trump, Discovery, American Progress, National Retail Federation, jkaplan Locations: China, Columbia, Southern Indiana, Jacksonville , Florida, Los Angeles

☆ From clothes to computers, 6 things expected to get more expensive if Trump's trade plans are enacted
▼ + stars: | 2024-11-15 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +10 min

If implemented, Americans could see prices rise across several product categories. AdvertisementBased on analyses from economists and trade experts, here are the goods that could become more expensive for Americans under Trump's tariff proposals. AdvertisementSome retailers have already announced preparations to increase prices should Trump's tariff plans go into effect. AdvertisementGold said it's unlikely Trump's tariffs would go into effect on day one or day two, and "it's tough to say right now at what point consumers would feel the impact." AdvertisementA report from centrist think tank ThirdWay said that Trump's tariff proposals analyzed eight common purchases that the US either heavily imports or is unable to produce domestically.

Persons: Donald Trump, Trump, —, Mary Lovely, Lovely, There's, Joe Biden, Jonathan Gold, it's, Karoline Leavitt, Tim Boyle, Gold, Philip Daniele, Daniele, Shinji Aoyama, Henrik Elm, Elm, Taylor Rogers Organizations: Trade, Service, Peterson Institute for International Economics, Trump, Consumers, National Retail Federation, Retailers, Bank of America, Columbia, Washington Post, Electronics, Consumer Technology Association, CTA, Honda, General Motors, Ford, Inter Ikea —, Ikea, Reuters, NPR, International Trade Commission, Republican National Committee Locations: China, Mexico, Europe

☆ Elon Musk is looking to cut government waste. Here's what the US spends money on right now.
▼ + stars: | 2024-11-13 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +4 min

Trump tapped Elon Musk and Vivek Ramaswamy to co-lead a "Department of Government Efficiency." The US spent $6.75 trillion in fiscal year 2024, with Social Security and health topping the list. The highest amounts of spending came from the Department of Health and Human Services, the Social Security Administration, and the Treasury Department. Over the past year, Social Security accounted for $1.46 trillion of the spending, health accounted for $912 billion, and Medicare came in at $874 billion. Social Security and Medicare are forms of mandatory spending that do not require annual congressional approval and would require legislation to change.

Persons: Trump, Elon Musk, Vivek Ramaswamy, —, Donald Trump, Musk, Ramaswamy, Karoline Leavitt, Vance Organizations: Department of Government, US, Social Security, Service, GOP, Trump, Treasury Department, Department of Health, Human Services, Social Security Administration, Social, White, Management, Budget, Education Department, IRS, FBI Locations: Trump, Government

☆ 3 CEOs preparing to raise prices if Trump enacts trade restrictions
▼ + stars: | 2024-11-12 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Economists say his tariff proposals could spike inflation as companies tend to pass costs on to consumers. Some companies have already said Trump's proposals would force them to increase prices. AdvertisementSome executives have warned that price hikes are on the way if President-elect Donald Trump's tariff plans go into effect. Executives have told analysts on earnings calls that it would be difficult to maintain current prices under Trump's broad tariffs. AdvertisementBelow are the companies that are warning of price increases if Trump's tariff proposals are implemented.

Persons: Donald Trump, —, Donald Trump's, Trump, Tarang Amin, Amin, AutoZone Philip Daniele, Daniele, Tim Boyle, Boyle, Stanley Black, Decker Donald Allan, Decker, Allan, Steve Madden, Edward Rosenfeld Organizations: Service, Federal Reserve, Columbia, Washington Post, Trump Locations: China, Columbia, Mexico

☆ Student-loan borrowers can expect 2 of Biden's key debt relief efforts to face roadblocks under Trump
▼ + stars: | 2024-11-11 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

President-elect Donald Trump is unlikely to continue Biden's student-debt relief efforts. Two of Biden's debt relief plans remain blocked in court, keeping borrowers in limbo. "He's throwing money out the window," Trump previously said of Biden's debt relief efforts, also calling broad relief "vile" and illegal. If they secure the majority in both the House and Senate, legislation to rescind Biden's debt relief efforts has a chance of being signed into law. For now, millions of borrowers remain on forbearance as they wait for the courts to decide what will come of Biden's broader debt relief efforts, leaving their timeline for repayment in limbo.

Persons: Donald Trump, Trump, —, Joe, Biden, hasn't, Karoline Leavitt, Vance, Mike Pierce, Pierce Organizations: Service, GOP, Education Department, Public, Business, Trump, Protection, Republican, Senate

☆ Democrats wished the election was about jobs. Trump's win showed it was about prices.
▼ + stars: | 2024-11-08 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +5 min

While Democrats touted job growth under Biden, Trump won over voters facing high prices. "I am promising low taxes, low regulations, low energy costs, low interest rates, secure borders, low, low, low crime and surging incomes for citizens of every race, religion, color, and creed," Trump said during remarks in September. BI adjusted 2021 amounts using Census-division-level inflation to understand how much real wages have changed across the US. Rhode Island had the highest real wage growth, just one of around a dozen states that saw an increase. Real wages massively fell in costly Washington, DC; even before adjusting for inflation wages were roughly flat.

Persons: Trump, —, Donald Trump, Joe Biden, Kamala Harris, Biden, Biden's, Jed Kolko, Matthew Yglesias, Harris, Kolko, they'll Organizations: Biden, Counties, Trump, Service, Federal, The New York Times, BI, stoke Locations: Trump, Rhode, New York, Maryland, Washington

☆ Fed Chair Powell stands firm amid questioning about whether Trump will push him out
▼ + stars: | 2024-11-07 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

Reporters asked Fed Chair Jerome Powell whether he would resign if President-elect Trump asked him to. Powell responded with one word: "No." Trump has been critical of Powell, but the law does not permit a president to fire a Fed official without cause. AdvertisementFederal Reserve chair Jerome Powell has no plans to leave the central bank prematurely under President-elect Donald Trump. "We don't guess, we don't speculate, and we don't assume," Powell said.

Persons: Jerome Powell, Trump, Powell, —, Donald Trump, Biden, Joe Biden Organizations: Service, Federal, Market, Trump, Fed, Street, Bloomberg, Federal Reserve, Congress

☆ The Federal Reserve gives Americans another interest-rate cut
▼ + stars: | 2024-11-07 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

The Federal Reserve cut interest rates by 25 basis points on Thursday. AdvertisementAnother interest-rate cut is headed Americans' way. On Thursday, the Federal Open Market Committee announced a 25-basis-point interest-rate cut after a 50-basis-point cut in September. AdvertisementGiven the lag in monetary policy, the interest-rate cuts won't give Americans immediate relief on their credit cards, housing, or car loans. Still, some Democratic lawmakers urged the Fed to implement another 50-basis-point cut to give Americans more financial relief.

Persons: —, Donald Trump, Trump, Matthew Ryan, Jerome Powell, Milton, Helene —, Elizabeth Warren, John Hickenlooper, Powell Organizations: Reserve, Service, Federal, Market, Trump, Boeing, Fed Locations: Sens

☆ Get ready for inflation and interest rates to rise again
▼ + stars: | 2024-11-07 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The Federal Reserve would likely respond to inflation by raising interest rates to curb demand. In an economic chain reaction, households would then pay higher interest rates on borrowing of all kinds as the Fed moves to tame that newly rekindled inflation. That led to the 30-year fixed mortgage rate rising, meaning homebuyers are on track to see higher interest rates on loans. An analysis by the nonpartisan Tax Policy Center found that Trump's policies would decrease posttax incomes by an average of $1,800 in 2025. Trump's win is also expected to influence the Federal Reserve's upcoming decisions on interest rates.

Persons: Donald Trump, —, Trump, Ramping, Trump's, it's, Jerome Powell, Joseph Stiglitz Organizations: Federal, Service, Biden, US Census Bureau, Trump, Peterson, Center, American Progress, Tax Foundation, Fed Locations: China

Detailed below is how a second Trump presidency is expected to impact American wallets. Trump's plan to cut the corporate tax rate is generally viewed as bullish for earnings, particularly for the consumer-discretionary, communication-services, and financial sectors. Further, if Trump's presidency is inflationary and leads to interest-rate hikes, that would hit housing affordability in the form of higher mortgage rates, which track the Federal Reserve's benchmark. AdvertisementThe former president has also said he plans to extend his slew of tax cuts from the Tax Cuts and Jobs Act of 2017 — also known as the "Trump tax cut." Trump's plan for universal tariffs is seen as offsetting a positive tax impact and would be especially costly for lower-earning Americans.

Persons: Donald Trump, —, Trump's, Trump, bitcoin, Vance Organizations: Trump, Service, Biden, White

Detailed below is how a Trump presidency is expected to impact American wallets. Trump's plan to cut the corporate tax rate is generally viewed as bullish for earnings, particularly for the consumer-discretionary, communication-services, and financial sectors. Trump's plan for universal tariffs is seen as offsetting a positive tax impact and would be especially costly for lower-earning Americans. Trump has proposed expanding the child tax credit, which currently provides up to $2,000 per child. In August, the vice presidential candidate JD Vance floated a child tax credit proposal that would include $5,000 per child for families of all income levels.

Persons: Donald Trump, —, Trump, bitcoin, Vance Organizations: Trump, Service, Biden, White Locations: Americas

☆ Americans are probably getting another interest rate cut 2 days after the election
▼ + stars: | 2024-11-06 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +6 min

The Federal Reserve is expected to cut interest rates by 25 basis points on Thursday. It follows a 50-basis-point rate cut in September — the first cut in four years. CME FedWatch, which forecasts interest rate changes based on market predictions, estimated an all-but-certain 25 basis point cut as of Wednesday afternoon. "Borrowers should understand that 'falling interest rates' are not the same as 'low interest rates,'" Greg McBride, Bankrate's chief financial analyst, said in a commentary. AdvertisementWhat are your financial plans if the Fed makes another rate cut?

Persons: —, Donald Trump, Trump, Jerome Powell, Powell, Helene, Milton, Cory Stahle, Julia Pollak, Greg McBride Organizations: Federal, Service, FedWatch, Boeing, BLS, Federal Reserve, PCE, Fed, asheffey

☆ School choice is gaining momentum, and it's on the ballot in 3 states. We want to hear what you think.
▼ + stars: | 2024-11-05 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

Critics have said that school choice puts public education at risk by diverting funds away from public schools and that some school choice initiatives have disproportionately helped wealthier families. Colorado's Amendment 80 establishes a constitutionally protected right to school choice for children from kindergarten through 12th grade. If the law is repealed, it would get rid of the state's school choice program. Related storiesIf the state ballot initiatives pass, they would build on the existing school choice programs across the country. Arizona added to the momentum by creating the first universal voucher program in 2022, and nearly 30 states have some form of a school choice program.

Persons: Critics, —, Andy Beshear, Kentucky Sen, Rand Paul Organizations: Service, Kentucky Center for Economic, Kentucky Gov, Republican Locations: Nebraska , Colorado, Kentucky, Colorado , Kentucky, Nebraska, Ohio, Arkansas, Arizona

For many Americans, the most important focus heading into a presidential election is how the winner will impact their wallet. Related storiesFor drug prices, Harris has promised to expand two provisions in the Inflation Reduction Act, allowing Medicare to negotiate the prices of some drugs. HarrisHarris' planned policy includes the construction of 3 million new housing units, as well as an expansion to the Low-Income Housing Tax Credit. TrumpTrump has also proposed expanding the child tax credit, which currently provides up to $2,000 per child. In August, the vice presidential candidate JD Vance floated a child tax credit proposal that would include $5,000 per child for families of all income levels.

Persons: Harris, Trump, Trump's, Joe Biden's, Biden, Trump Trump, — Trump, Harris Harris, —, Vance, hasn't Organizations: Trump, Federal Reserve, White, Trump Trump Locations: Americas

☆ Australia announced a sweeping plan to forgive 20% of student debt
▼ + stars: | 2024-11-04 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +4 min

Australian prime minister Anthony Albanese said he would cut student debt by 20% next year. AdvertisementThe Australian government on Sunday announced a sweeping plan to forgive 20% of student debt for around 3 million Australians. The debt relief is designed to promote "intergenerational equity," Albanese told Australian Broadcasting Radio on Monday, according to Bloomberg. AdvertisementHowever, Biden's efforts to grant broad student loan relief have hit several stumbling blocks. Biden's Education Department is continuing to work on debt relief proposals; if finalized, the latest one would benefit 8 million borrowers facing hardship.

Persons: Anthony Albanese, —, Albanese, it's, Andrew Norton, Richard Holden, Ayelet Sheffey, Biden's, Donald Trump, Kamala Harris Organizations: Service, Sunday, Labor, Australian Broadcasting Radio, Bloomberg, Australian National University, University of New, ABC News, Biden's, Department Locations: University of New South Wales

☆ Americans are probably getting another interest rate cut this week — just days after the election
▼ + stars: | 2024-11-04 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +5 min

The Federal Reserve is expected to cut interest rates by 25 basis points on Thursday. It follows a 50-basis-point rate cut in September — the first cut in four years. CME FedWatch, which forecasts interest rate changes based on market predictions, estimated an all-but-certain 25 basis point cut as of Friday afternoon. Advertisement"Borrowers should understand that 'falling interest rates' are not the same as 'low interest rates,'" Greg McBride, Bankrate's chief financial analyst, said in a commentary. What are your financial plans if the Fed makes another rate cut?

Persons: —, Jerome Powell, Powell, Helene, Milton, Cory Stahle, Julia Pollak, Greg McBride Organizations: Federal, Service, FedWatch, Boeing, BLS, Federal Reserve, PCE, Fed, asheffey

☆ Millions of student-loan borrowers are waiting for broad debt cancellation. The next president won't have any immediate answers.
▼ + stars: | 2024-11-03 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +8 min

Neither former President Trump nor VP Kamala Harris would be able to act on them imminently. Despite its inability to provide broad cancellation, Biden's Education Department has issued targeted relief that has given nearly 5 million borrowers debt cancellation to date. Constance, 65, has nearly $200,000 in student debt, an amount that's ballooned since she graduated from law school in 1994. "I would expect continued improvements and limited expansions of debt relief where legally possible under a Harris-Walz administration," Partridge said. Regardless of who wins the election, legal challenges to debt relief will keep borrowers in limbo.

Persons: Joe Biden's, Trump, Kamala Harris, Harris, —, Donald Trump, Education James Kvaal, That's, it's, NORC, Biden, Constance, Constance —, It's, Sara Partridge, " Partridge, Kvaal, Partridge, Walz, Sen, Bill Cassidy Organizations: Service, GOP, Education Department, Biden's Education, Education, AP, Biden's Education Department, Public, American Progress Action, Trump, Republican, Senate

☆ What's expected to get more and less expensive under Trump or Harris
▼ + stars: | 2024-10-29 | by ( Ayelet Sheffey | Brent D. Griffiths | ) www.businessinsider.com time to read: +10 min

Detailed below is what Harris and Trump have proposed to lower costs for Americans. AdvertisementWhile the pace of inflation has slowed, Americans continue to struggle with high prices at gas stations, grocery stores, and more. Those high prices have become a key issue for voters as the presidential election approaches. Both Donald Trump and Kamala Harris have outlined plans they say will lower costs for Americans through various policies. "If you were to try and cut down grocery prices today, there's no state of emergency.

Persons: Harris, Trump, —, Donald Trump, Kamala Harris, Tim Walz, Taylor Rogers, Dan Scheitrum, Scheitrum, it's, Rogers, Biden, Sen, JD Vance, Ohio Organizations: Service, Business, Democratic, Minnesota, Republican National Committee, Pew Research Center, California Polytechnic State University, Trump, Tax, Economic, of New, RNC, Census, Center, GOP, Gas, Biden, House, Strategic Petroleum Reserve Locations: America, Pennsylvania, Trump's, Las Vegas, of New York

☆ More student-loan borrowers are taking advantage of an updated route to get rid of their debt in bankruptcy court, top Democratic senators say
▼ + stars: | 2024-10-28 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

New data obtained by some lawmakers shows more student-loan borrowers taking advantage of that new process. Elizabeth Warren led some of her colleagues in calling for bolstered outreach on the bankruptcy process. AdvertisementAn updated process for student-loan borrowers to get rid of their debt in bankruptcy court is working, a group of Democratic senators said. Discharging student loans in bankruptcy court has been historically difficult. Lawmakers have also introduced legislation to make the bankruptcy process easier for student-loan borrowers.

Persons: Elizabeth Warren, —, Dick Durbin, Sens, Raphael Warnock, Sheldon Whitehouse, Biden, Jerry Nadler, Nadler Organizations: Biden, Service, Business, Justice, Education, Democratic, Justice Department, DOJ, Lawmakers Locations: Sens, House

☆ A battle over the future of US retirement is playing out in Pennsylvania as the election looms
▼ + stars: | 2024-10-26 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +12 min

Similar to Maureen, she's concerned about financial security for older Americans — but she will be supporting Vice President Kamala Harris. "He says that he's going to keep Social Security, but you never know with him," Klein told BI of Trump. CRP research suggests that's due to fewer older adults working traditional jobs and instead pursuing entrepreneurship to supplement their retirement incomes. AdvertisementJR Reed and Krista Geer, both in charge of county-wide aging agencies, have met with older adults in Pennsylvania to hear their top worries. Critics say it isn't tied to a measure that accurately reflects the spending of older Americans.

Persons: Harris, Trump, —, Maureen, Donald Trump, he'll, she's, Heck, Federal Reserve —, Marjorie Klein, Kamala Harris, Klein, Bill Johnston, Walsh, Benjamin Glasner, haven't, Glasner, Mike Crossey, Crossey, Richard Fiesta, Fiesta, Kyle Kopko, Kopko, Bill Candelori, It's, Candelori, Josh Shapiro —, Democrat —, Jason Kavulich, it's, I've, JR Reed, Krista Geer, Geer, Reed, Brian Hughes, JD Vance, Kavulich Organizations: Pennsylvania, BI, Social Security, Service, Republicans, Biden, Trump, Federal Reserve, AARP, Cambria —, Economic Innovation Group, Security, Alliance, Retired, Center for, Democrat, Pennsylvania's, JR Locations: Pennsylvania, Philadelphia, AARP Pennsylvania, — Fayette, Cambria, Pittsburgh, Center for Rural Pennsylvania

☆ 8 million student-loan borrowers struggling to afford key long-term expenses could get debt cancellation through a new Biden proposal
▼ + stars: | 2024-10-25 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The Education Department released its proposal to provide student-debt relief to borrowers facing hardship. AdvertisementPresident Joe Biden's Education Department has released another student-debt relief proposal — this time for borrowers facing hardship. "The rules proposed by the Biden-Harris Administration today would provide hope to millions of struggling Americans whose challenges may make them eligible for student debt relief." After that, the public will be able to submit comments and offer feedback to the Education Department on the plan. "If you are having to take on student debt, that is the hardship, point blank, period."

Persons: —, Joe Biden's, it's, Miguel Cardona, Harris, Cardona, Wisdom Cole, Persis Yu Organizations: Education Department, Service, Joe Biden's Education Department, Biden, Harris Administration, Federal, Education, GOP, Protection

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