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CNN —Senate Majority Leader Chuck Schumer and nearly two dozen Democrats pressed the Justice Department on Thursday to launch an industry-wide investigation into Big Oil for alleged collusion and price fixing. The lawmakers urged the DOJ to investigate the oil industry, “hold accountable any liable actors” and halt illegal activity. Last week, congressional Democrats launched an investigation into whether other US oil companies colluded with each other and OPEC. Regulators cited hundreds of text messages Sheffield exchanged with OPEC officials discussing pricing, production and oil market dynamics. “The strategy appears to have worked,” Schumer and his colleagues wrote to the DOJ.
Persons: Chuck Schumer, General Merrick Garland, Schumer, , , Elizabeth Warren, Amy Klobuchar, Bernie Sanders, Dick Durbin, Scott Sheffield, Sheffield “, ” Schumer, Sherman, Sheffield, ” Sheffield Organizations: CNN, Justice Department, Big Oil, Democrats, DOJ, Big, Federal Trade Commission, FTC, Sheffield, Pioneer Natural Resources, OPEC, Pioneer Locations: Texas, Sens
As buy now, pay later programs become more common, some shoppers are using this payment structure to make ends meet. Such short-term financing plans are the second-most-used form of credit payment among consumers in the U.S., according to a new report by NerdWallet. Meanwhile, 25% said they had used BNPL services in the last 12 months. Far fewer consumers had used a cash advance app (10%) or a payday loan (6%) in the last 12 months, NerdWallet found. An equal share, 8%, expect to use BNPL for necessities in the coming 12 months.
Persons: Elizabeth Warren, NerdWallet, Sara Rathner, it's, Rathner Organizations: Federal Reserve Bank of New, NerdWallet, Finance Locations: Federal Reserve Bank of New York, U.S
High inflation is subsiding, but many Americans have yet to see relief from elevated prices at the grocery store. "Grocery prices are up because of good old-fashioned corporate price gouging," Warren said. "And they can gouge consumers on prices because there's only a small number of companies controlling every level of the food chain." "When you spend this kind of money, you're going to have inflation," Kennedy said. "Inflation is coming down, but prices remain elevated," said Mark Hamrick, senior economic analyst at Bankrate.
Persons: they've, Sen, Elizabeth Warren, Warren, John Kennedy, Joe Biden, Kennedy, Harris, Mark Hamrick Organizations: Senate, Finance
Julia Nikhinson | ReutersDischarging student debt in bankruptcy is now easierThe new guidance has already led to changes. In the first 10 months of the Biden administration's more lenient process, student borrowers filed more than 630 bankruptcy cases, a "significant increase" from recent years, it reported last year. Many borrowers are 'not aware' of changesYet Warren says more work still needs to be done. "More than 43 million borrowers in the United States carry a total of $1.6 trillion in student loan debt, and more than 2 million borrowers have been repaying those loans for at least 20 years," Warren and Whitehouse wrote. "DOJ and ED must work harder to encourage borrowers to seek relief — and deliver on that relief when requested," they added.
Persons: Elizabeth Warren, Julia Nikhinson, Biden, I've, Neu, Warren, Whitehouse Organizations: Intelligence, U.S, Capitol, CNBC, DOJ, The, of Justice and Education Department Locations: Washington, Seattle, United States
The Trump campaign announced Tuesday it will start accepting cryptocurrency donations, casting the move as one of solidarity with opponents of "socialistic government control" over the U.S. financial markets. "MAGA supporters, now with a new cryptocurrency option, will build a crypto army moving the campaign to victory on November 5th!" The move opens a new source of potential funds for the Trump campaign, which still lags Biden in cash on hand even as it outraised the Democratic incumbent in April. Crypto donations will be reported as in-kind contributions, much like gifts of stock. "Contribution limits and disclosure requirements for crypto donations will follow Federal Election Commission regulations," the Trump campaign said.
Persons: Donald Trump, Trump, Joe Biden, Sen, Elizabeth Warren, Biden, Warren, MAGA, Crypto Organizations: Commerce, Trump, Biden, Democratic, Federal, Pew Research Center Locations: Waukesha, Waukesha , Wisconsin
The Rise of a New Centrism
  + stars: | 2024-05-20 | by ( David Leonhardt | )   time to read: +1 min
Washington, you often hear, is a place so polarized that our leaders barely get anything done. Senator Elizabeth Warren, a progressive leader, has worked on legislation with several conservative Senate Republicans, including Josh Hawley and J.D. My editors recently asked me to make sense of this conundrum: A polarized country in which bipartisanship has somehow become normal. To do so, I spoke with Congress members from both parties, as well as Biden administration officials and outside experts. I emerged from the project believing that the U.S. was indeed a polarized country in many ways — but less polarized than people sometimes think.
Persons: Biden —, Donald Trump’s, , Elizabeth Warren, Josh Hawley, J.D, Vance, Lina Khan —, Biden, ” Biden, bipartisanship Organizations: Democrats, Republican, Republicans, Federal Trade Commission Locations: U.S
Congress created the bureau in 2010 to protect consumers from financial scams. The payday lending groups sued over a 2017 bureau rule that prohibited attempts to withdraw payments from accounts after two consecutive tries failed due to insufficient funds. Because of that, the conservative appeals court tossed the payday lending rule. The Biden administration appealed to the Supreme Court in 2022. CNN Supreme Court analyst Steve Vladeck said the ruling is another instance of the high court not endorsing controversial opinions from the 5th Circuit.
Persons: Clarence Thomas, Biden, Massachusetts Democratic Sen, Elizabeth Warren, ” Thomas, Steve Vladeck, , would’ve, , Vladeck, Samuel Alito, ” Alito, Neil Gorsuch, Stuart, Trump Organizations: CNN, Massachusetts Democratic, Federal Reserve, Circuit, University of Texas School of Law Locations: New Orleans
TradeBiden has left some of Trump's tariffs in place, illustrating the protectionist bent that continues to take hold in Washington. Biden has left some of Trump's tariffs in place, illustrating the protectionist bent that continues to take hold in Washington. As president, Trump fixated on the US trade deficit even as some economists argued against reading too much into such figures. He didn't see the fruits of his biggest trade deal, which went into effect in July 2020: the USMCA, a revamped North American trade deal known Experts at Brookings Institution have praised the treaty for growing regional trade. Trump has pledged to kill the Biden administration's new Asian trade talks, which the former president has dubbed "TPP two."
Persons: Biden, Niels Wenstedt, Trump, Katherine Tai, Sen, Elizabeth Warren, Barack Obama Organizations: BSR Agency, Getty, Republican Party, American Free Trade, World Trade Organization, Big Tech, Trump, Bloomberg News, Brookings Institution, TransPacific, US, Biden, Politico Locations: Washington, China, American, Mexico, Beijing
New York CNN —Some progressives have frequently blamed corporate greed for fueling the high cost of living that Americans are fed up with. That’s corporate greed. That’s corporate greed. Although the paper did not directly mention corporate greed, shrinkflation or Biden, the research undercuts the argument that greedflation drove the early inflation. That report found corporate profits were to blame for 34% of inflation since the start of Covid-19.
Persons: Sen, Elizabeth Warren, ” Warren, “ That’s, It’s, , , Joe Biden, ” Biden, CNN’s Erin Burnett, Biden, – we’re, shrinkflation, greedflation, Jeremy Edwards, ” Edwards, , , Greg Valliere, ” Valliere, Jerome Powell, Caroline Ciccone, profiteer Organizations: New, New York CNN, Federal Reserve Bank of San Francisco, Fed, SF Fed, , CNN, White, AGF Investments, Federal Reserve, Federal, Federal Reserve Bank of Kansas City Locations: New York, America, Kansas
CNN —The House has passed a major federal aviation bill that aims to improve aviation safety, enhance protections for passengers and airline workers and invest in airport and air travel infrastructure nationwide. The bill renewing the Federal Aviation Administration’s authority for five years will next head to President Joe Biden to be signed into law. Setting a standard for travel creditsUnder the bill, travel credits issued by airlines in lieu of refunds would have to be useable for at least five years. Increasing cockpit voice recordingCommercial aircraft would have to carry 25-hour cockpit voice recorders under the legislation. The cockpit voice recorder is one of the two black boxes and is currently only required to capture two hours of sound from the cockpit.
Persons: Joe Biden, John F, Republican Sen, Josh Hawley of, Democratic Sen, Elizabeth Warren of Organizations: CNN, Federal Aviation, FAA, National Transportation Safety, Reagan National Airport, American Airlines, Delta Air Lines, Department of Transportation, Republican, Democratic, Transportation, Administration, NTSB Locations: Washington, Kennedy, New York City, Josh Hawley of Missouri, Elizabeth Warren of Massachusetts
Just days after the release of a scathing report detailing a culture of widespread sexual harassment and discrimination at the Federal Deposit Insurance Corporation, its chair, Martin Gruenberg submitted congressional testimony on Tuesday that indicated he had no plans to step down. “I accept the findings of the report and, as chairman, I take full responsibility,” he said. The hearings come as Mr. Gruenberg, a Democrat, faces calls from Republican lawmakers to resign. He has so far survived those demands with the backing of the White House and key Democratic lawmakers like Senator Sherrod Brown of Ohio, Senator Elizabeth Warren of Massachusetts and Representative Maxine Waters of California. Should Mr. Gruenberg be pressured to depart the agency after the hearings, that could also put into jeopardy a rule that the agency is proposing along with other federal bank regulators, to tighten and expand oversight of the nation’s largest lenders, but which has been fiercely opposed by big banks.
Persons: Martin Gruenberg, Gruenberg, , Sherrod Brown of, Elizabeth Warren of, Maxine Waters Organizations: Federal Deposit Insurance Corporation, Financial, Democrat, White, Elizabeth Warren of Massachusetts Locations: Sherrod Brown of Ohio, California
Hospitals are overstretched as Palestinians die in Israeli attacks on the suburbs and tens of thousands of people have already fled. For Netanyahu, the eradication of the group that carried out the October 7 attacks may be a matter of political survival. • Can Israel — as Netanyahu vows — go ahead alone in an operation even the US has disowned? • How would a full-scale offensive in Rafah further hamper already faltering attempts to secure a ceasefire between Israel and Hamas? Initially, Biden’s warning, delivered in an interview with CNN’s Erin Burnett in the swing state of Wisconsin on Wednesday, looks like a case of political whiplash.
Persons: Joe Biden’s, , Reagan, Benjamin Netanyahu, , Biden, Donald Trump, Netanyahu, Will Biden’s, Israel —, pummel, he’s, Erin Burnett, CNN Alon Pinkas, CNN’s Becky Anderson, ” Pinkas, CNN’s Erin Burnett, Joe ”, Israel’s, Gilad Erdan, Yoav Gallant, , dissing Biden, Mike Johnson, ” Trump, Trump, Bill Clinton, Barack Obama, Ronald Reagan’s, Massachusetts Sen, Elizabeth Warren Organizations: Washington CNN, CNN, Israeli, Gaza Health Ministry, United Nations, Democratic, Republicans, Trump, voters, Republican, House, Hamas, Party, GOP, CNBC Locations: Israel, Rafah, Washington, Gaza, Rafah —, New York, Wisconsin, United States, Europe, Michigan, Chicago, Vietnam, Iran, Damascus, Lebanon, Massachusetts
New York CNN —Martin Gruenberg, the chair of the Federal Deposit Insurance Corporation, is facing a barrage of calls from lawmakers to resign after a scathing 234-page report released Tuesday detailed pervasive sexual harassment, discrimination and bullying at the agency. If he heeds the calls, there could be significant ramifications for banks across the country. “We do recognize that, as a number of FDIC employees put it in talking about Chairman Gruenberg, culture ‘starts at the top,’” the report said. Gruenberg’s temperament “may hinder his ability to establish trust and confidence in leading meaningful culture change,” the report added. Aside from Democratic Rep. Bill Foster, Democrats have stopped short of calling on Gruenberg to resign.
Persons: New York CNN — Martin Gruenberg, Cleary Gottlieb Steen, Gruenberg, , , , ” That’s, CNN Gruenberg “, Joe Biden, Bill Foster, That’s, Travis Hill, Rulemaking, ” Dennis Kelleher, Hill, Cowen, Sen, Elizabeth Warren aren’t, Karine Jean, Pierre didn’t, Biden, Kelleher Organizations: New, New York CNN, Federal Deposit Insurance Corporation, Hamilton, FDIC, CNN, Democrat, Democratic Rep, Republican, Senate, Democratic, Better, Federal Reserve, White Locations: New York, Basel
Sen. Elizabeth Warren led a group of Democrats in pushing for increased Federal Student Aid funding. AdvertisementA group of Democratic lawmakers is pointing to one key thing that will help student-loan borrowers and families navigate financial aid: more funding. Advertisement"FSA's responsibilities have increased to protect students and borrowers, but its federal funding has remained stagnant," they wrote. AdvertisementWhen it comes to the FAFSA, both Republican and Democratic lawmakers have been highly critical of the way the Education Department has facilitated the rollout. The Education Department is also in the process of crafting its broader student-debt relief plan, which is currently in the public comment period.
Persons: Sen, Elizabeth Warren, , Massachusetts Sen, Tammy Baldwin, Shelley Moore Capito, Joe Biden's, Biden, Secretary Miguel Cardona, Cardona Organizations: Federal Student Aid, Service, Democratic, Massachusetts, Sens, Republicans, Business, Education Department, Public, Republican, Secretary
Kristi Noem keeps hurting her chances to become Donald Trump's running mate. Kristi Noem has campaigned so badly to be former President Donald Trump's vice president that even some of the most controversial Trumpworld figures are turned off. If Noem truly wants to be vice president, this has been one of the worst efforts to obtain the job. AdvertisementIt's a difficult balance trying to become vice president. At worst, a potential vice president could lose all the leverage to shape the role in a way that would benefit him or her the most.
Persons: Kristi Noem, Donald Trump's, Noem, , I've, Steve Bannon, Donald Trump Jr, Bannon, Trump, Tim Walz, Nicole Malliotakis, Joe Biden, Barack Obama, Harry Truman, FDR, Sen, JD Vance, Trump . Sen, Marco Rubio, Doug Burgum, Tim Scott of, George Costanza, Saul Goodman, Saul, Biden, Los Angeles Mayor Eric Garcetti, Karen Bass, Susan Rice, Gretchen Whitmer, Elizabeth Warren Organizations: South Dakota Gov, Service, White, Trump Jr, Cricket, The Guardian, Minnesota Gov, GOP, New, New York Republican, Politico, Gov, Ohio Republican, Trump ., Trump, Trump . North Dakota Gov, Wall Street, Los Angeles Mayor, New York Times, Michigan Gov Locations: New York, Texas, Ohio, Trump ., Tim Scott of South Carolina, Los Angeles, Biden's White
Joseph Prezioso/AFP/Getty Images Pro-Palestinian protesters confront a Texas state trooper at the University of Texas in Austin on Monday, April 29. Brandon Bell/Getty Images Protesters link arms at Emerson College in Boston on April 24. Brian Snyder/Reuters House Speaker Mike Johnson speaks to the media on the campus of Columbia University after meeting with Jewish students on April 24. Alex Kent/AFP/Getty Images People watch from a window as New York University students set up a tent encampment on April 22. Stefan Jeremiah/AP Israeli flags are reflected in the sunglasses of a demonstrator in front of Columbia University on April 22.
Persons: Joe Biden’s, Donald Trump, Alex Kent, Biden, Andrew Bates, , Chuck Schumer, , Hind Rajab, Mike Johnson, ” Johnson, Trump, Benjamin Netanyahu’s, Mike Lawler, Israel –, Jared Moskowitz, Vermont Sen, Bernie Sanders, ” Moskowitz, Sanders, “ Bernie, Alexandria Ocasio, Cortez, “ Sen, Sanders ’, ” Ocasio, tikkun, , Ocasio, Joseph Prezioso, Suzanne Cordeiro, Cliff Owen, Qian Weizhong, David Dee Delgado, Mike Stewart, Sarah Reingewirtz, Jay Janner, Brandon Bell, Brian Snyder, Timothy A, Clary, Matthew Hatcher, Nuri Vallbona, Jordan Vonderhaar, Zaydee Sanchez, Caitlin Ochs, Cameron Jones, Stephanie Keith, Andres Kudacki, Tayfun, Joe Buglewicz, Fatih Aktas, Michael M, Mary Altaffer, Scott Eisen, Columbia's, Stefan Jeremiah, Selcuk, Kena Betancur, Josh Gottheimer, Dan Goldman, Richard Nixon, Netanyahu’s, Elizabeth Warren of, Bernie, , Warren, , Netanyahu, Israel, ” Sanders –, Sanders –, Democratic Sen, Chris Murphy of, who’s, ” Murphy, Elise Stefanik, ” Stefanik, CNN’s Donald Judd, Kevin Liptak, Annie Grayer Organizations: CNN, Israel Democrats, Capitol, Columbia University, Hamilton Hall, Getty, New York Democrat, College Democrats, America, Columbia, Republicans, Democrats, GOP, Jewish Democrats, Israeli, GOP Rep, Democratic, Florida, New York Rep, Hamilton, Columbia Students, Justice, Brown University, University of Texas, George Washington University, AP, University of California, UCLA, Getty Images, New York University, Rueters Georgia State Patrol, Emory University, MediaNews, Los Angeles Daily News, Austin Statesman, USA, Network, Reuters, Austin, University, Emerson College, Swarthmore College, Bloomberg, Getty Images Police, University of Southern, Reuters New York, Reuters Columbia, New York Times, Sproul Hall, Yale University, University police, York University, The New School, Massachusetts Institute of Technology, Library, New York Police Department, Occupy, Hamas, Democratic Party, Biden, White, International Court of Justice, Sunday, Fox News, New York, Republican Locations: Gaza, New York City, Columbia, Palestinian, , Gaza City, Palestine, New York, Vermont, Alexandria, Israel, Cortez, Providence , Rhode Island, AFP, Texas, Austin, Washington ,, Los Angeles, New, Rueters Georgia, Atlanta, Getty Images Texas, Boston, Swarthmore , Pennsylvania, University of Southern California, Berkeley, Sproul, Anadolu, New Haven , Connecticut, Cambridge, New Jersey, Washington, Elizabeth Warren of Massachusetts, “ State, Chris Murphy of Connecticut
Read previewA major student-loan company has requested that it no longer manage some of the borrowers in its servicing portfolio. "MOHELA continues to serve as one of the Department's federal student loan servicers and will continue their support for millions of student loan borrowers," the blog post said. AdvertisementThis announcement comes as the Education Department is working to overhaul the student-loan servicing industry to make it easier to use for borrowers. Warren told BI in a statement that less than three weeks after she held the hearing, "the Education Department is taking critical action to protect student loan borrowers." Advertisement"There is more that the Education Department can do to hold MOHELA accountable, but today's action is an important first step," Warren said.
Persons: , MOHELA, servicers, Sen, Elizabeth Warren, Warren Organizations: Service, Federal, Business, An Education Department, Public, Education Department, Federal Student Aid, Democratic Locations: MOHELA
Washington CNN —The head of the Federal Student Aid office, which has faced criticism for the botched rollout of this year’s college financial aid form, will be stepping down. The announcement of Cordray’s departure comes as his office has been under fire for problems with a new version of the Free Application for Federal Student Aid, or FAFSA, released late last year. “If there was a financial aid director, or even a college president, that delayed financial aid on their campus for up to six months, the professional price that would be paid for that would be pretty steep,” Justin Draeger, president of the National Association of Student Financial Aid Administrators, told lawmakers. Cordray’s tenureAs the head of FSA, Cordray oversaw not only the FAFSA but also the entire $1.6 trillion federal student loan system. It also sued Navient, one of the biggest federal student loan servicers, for allegedly processing payments incorrectly.
Persons: Richard Cordray, Cordray, Justin Draeger, Virginia Foxx, Miguel Cardona, Cordray’s, Rich Cordray’s, ” Cardona, , Rich, Obama, ” Cordray, Pell, Biden, Trump, Massachusetts Sen, Elizabeth Warren —, Navient, “ I’m, ” Warren Organizations: Washington CNN, Federal, Aid, CNN, Department of Education, Federal Student Aid, Education, Workforce, National Association of Student Financial, Republican Rep, Consumer Financial Protection Bureau, Democratic, National College, of Education, Public, Consumer Financial, Massachusetts, Corinthian Colleges Locations: North Carolina, Ohio
US President Joe Biden speaks about student loan debt relief at Madison Area Technical College in Madison, Wisconsin, April 8, 2024. The aid package is narrowerBiden's 2020 campaign promise to erase student debt was thwarted at the Supreme Court in June. Biden had tried to forgive the debt of nearly all 40 million federal student loan borrowers, with many people getting up to $20,000 in cancellation. As a result, for critics of broad student loan forgiveness, Biden's new plan looks a great deal like his first. Biden's first forgiveness plan was based on the Higher Education Relief Opportunities for Students Act, or HEROES Act, of 2003.
Persons: Joe Biden, Andrew Caballero, Reynolds, Joe Biden's, Biden didn't, Biden, who've, Biden's, Andrew Bailey, X, Bailey, There's, didn't, John Roberts, Lyndon B, Johnson, Sen, Elizabeth Warren, Warren Organizations: Madison Area Technical College, AFP, Getty, U.S . Department of Education, Republican, Higher, Higher Education, Act, Biden, ., of Education Locations: Madison , Wisconsin, Missouri, . Nebraska
A major private student-loan company is leaving the servicing industry. But before that happens, a group of Democratic lawmakers want it to give some borrowers debt relief. On Wednesday, Sen. Elizabeth Warren led eight of her Democratic colleagues in sending a letter — first reviewed by Business Insider — to Navient's CEO David Yowan, requesting that the company cancel "decades-old predatory private student loans" using a consumer protection law established by the Federal Trade Commission. AdvertisementBut there might be an avenue to still get those borrowers debt cancellation. "Navient should stop making borrowers apply for relief and instead automatically cancel student debt using information the company already has about whether borrowers attended schools that would entitle them to relief," they wrote.
Persons: Sen, Elizabeth Warren, David Yowan, Navient, Warren, Holder Organizations: Service, Democratic, Business, Federal Trade Commission, Family Education, Education Department, Minnesota Attorney Locations: Minnesota, MOHELA, Navient
Read previewLawmakers have highly scrutinized the return to repayment for millions of student-loan borrowers in the fall. Elizabeth Warren, Richard Blumenthal, Ed Markey, and Chris Van Hollen released a report on student-loan servicer errors amid the return to repayment. Exclusively viewed by Business Insider, the report said servicers made over 3.9 million "billing-related errors" once repayment resumed. Still, the Democratic lawmakers said in their report that more could be done to help borrowers harmed by servicing errors. "To remedy servicers' historic failures and protect borrowers from future harms, there must be a path for debt relief for borrowers harmed by their servicers," they wrote in the report.
Persons: , Democratic Sens, Elizabeth Warren, Richard Blumenthal, Ed Markey, Chris Van Hollen, servicers, Nelnet, Aidvantage, MOHELA, Warren Organizations: Service, Democrats, Democratic, Business, Education Department, ED, Warren, BI, Public
Lawmakers from both parties plan to introduce a sweeping bill in Congress on Wednesday that would force the military for the first time to track and limit troops’ exposure to damaging shock waves from firing their own weapons. The bill, known as the Blast Overpressure Safety Act, would order the military to begin recording troops’ individual blast exposures in training and regularly give exposed troops neurocognitive tests to check for signs of possible injuries. It would also require military medical personnel to be trained in recognizing injuries from repeated blast exposure, which are currently often misdiagnosed as behavioral health issues, if they are diagnosed at all. Senators Elizabeth Warren, Democrat of Massachusetts, and Joni Ernst, Republican of Iowa, plan to introduce the bill in the Senate on Wednesday. Representative Ro Khanna, Democrat of California, plans to introduce a similar bill in the House.
Persons: Senators Elizabeth Warren, Joni Ernst, Ro Khanna Organizations: Senators, Republican Locations: Massachusetts, Iowa, California
It is wrong to starve children within a civilian population in order to try to bend them to your will. It is wrong to drop 2,000-pound bombs in densely populated civilian areas,” Warren, a Massachusetts Democrat, said. Warren has criticized the Biden administration’s policies on Israel, calling for a ceasefire and demanding conditions on future aid to the US ally. After seven World Central Kitchen aid workers were killed in an Israeli strike, Warren posted on X, “Aid workers reflect the best of humanity and need to be protected. We need an immediate ceasefire and to deliver massive amounts of humanitarian aid.”
Persons: CNN — Sen, Elizabeth Warren, Israel, ” Warren, “ Israel, , Warren, Organizations: CNN, Islamic, of Boston, Massachusetts Democrat, Politico, International Court of Justice, International Court, Justice, Biden, Kitchen, Locations: Gaza, Israel, Massachusetts
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, 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
Still, the Biden campaign sees student debt forgiveness as a winning issue. The administration is working on developing another student loan forgiveness program, relying on a different legal authority this time. Student debt policy has come a long wayStill, student loan borrower advocates agree that forgiveness for nearly 4 million people is worth acknowledging. Before the 2016 presidential campaign, broad student debt cancellation was not an issue that candidates usually campaigned on. Cole also served on the Department of Education’s rulemaking committee tasked with developing the new student loan forgiveness program.
Persons: Joe Biden, Biden, It’s, , , Braxton Brewington, , ” Biden, Donald Trump, Trump, we’ll, it’s Joe Biden, Seth Schuster, Trump Democratic Sen, Elizabeth Warren –, Betsy DeVos, “ Joe Biden, ” Warren, DeVos, he’s, The Trump, it’s, There’s, that’s, Brewington, Wisdom Cole, Cole, Jill Biden’s, ” Cole, Warren, CNN’s Ariel Edwards, Levy Organizations: Washington CNN, Supreme, Republican, Biden, Trump Democratic, CNN, Education Department, Corinthian Colleges, The, PSLF, Department of Education, NAACP Youth & College Division, Department, Education’s, State, Union, Black, KFF, NAACP Locations: California, United States, Massachusetts
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