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Search resuls for: "Louise Seamster"


3 mentions found


☆ Opinion | The Case Against Student Debt Relief Barely Even Pretends to Make Sense
  + stars: | 2023-05-26 | by ( Eleni Schirmer | Louise Seamster | ) www.nytimes.com   time to read: +1 min
The Biden administration’s plan to cancel up to $20,000 of debt for tens of millions of Americans has faced endless pressure. But the suit against it, brought by six Republican-led states, has received much less scrutiny. That’s because the Supreme Court issued certiorari before judgment, meaning the suit did not first have to wend its way through lower courts. We found that the states’ most fundamental justification for bringing the case — that canceling student loans could leave a Missouri-based loan authority unable to meet its financial obligations to the state — is false. That assertion has been enough to get them to the nation’s highest court, and may help persuade the justices to rule in their favor.
☆ Why you should apply for Biden's student-loan forgiveness before mid-November
  + stars: | 2022-10-17 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +3 min
Student-loan borrowers can apply for debt relief now during a beta testing period. While the site is not formally live, the Education Department advises borrowers apply by mid-November. This will ensure the relief will hit their accounts before payments resume in January 2023. On Friday evening, President Joe Biden's Education Department launched the student-loan forgiveness application in beta mode — a time period during which borrowers can apply for up to $20,000 in loan forgiveness while the department monitors the website and determines any needed fixes before making the application officially live. Biden's administration recommends borrowers submit the forms before mid-November to ensure they can be processed before payments resume in January 2023.
☆ It's still unclear if your student debt will be forgiven before payments resume in January — or how your loan company will carry out the relief
  + stars: | 2022-10-16 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +8 min
Payments are still set to resume in January 2023 after being on pause for over two years during the pandemic. When announcing the debt relief, Biden said the extension of the payment pause through December 2022 would be "final," while also noting that the application to apply for relief would go live in early October. While the Education Department recommends borrowers submit their applications by mid-November so the relief can hit their accounts before payments resume, it remains to be seen how effectively student-loan companies will implement the relief. "Another concern is with the loan servicers – we must ensure that they aren't engaging in deceptive or illegal behavior, and holding them fully accountable if they do," she added. And income-driven repayment plans, which are intended to give borrowers affordable monthly payments with the promise of loan forgiveness after at least 20 years, had the same issue — recent reports found loan companies had failed to track payments borrowers had made.
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