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☆ 30 million student-loan borrowers get bad news after a Trump-appointed federal judge officially blocks Biden from carrying out broader debt cancellation
▼ + stars: | 2024-10-03 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

A federal court in Missouri placed a preliminary injunction on Biden's broader student-debt relief plan. This ruling officially blocks the relief from being implemented pending a final legal decision from the court. Related storiesThe Education Department had previously intended to begin canceling student debt in October, and it has yet to post the final rule for the relief. Along with the lawsuits to block Biden's broader debt relief, his SAVE income-driven repayment plan is also blocked in court pending a final legal decision. An Education Department spokesperson told BI in a statement earlier on Thursday that it would continue to fight for the relief in court.

Persons: —, Matthew Schelp, Donald Trump, Joe Biden's, Schelp's, Biden, Schelp Organizations: Service, of, Higher, GOP, Education Department Locations: Missouri, Eastern, of Missouri, Georgia

☆ Five Jewish college students report being assaulted in the last month, as Oct. 7 anniversary approaches
▼ + stars: | 2024-10-02 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Simone-Weichselbaum.Jpg | Simone Weichselbaum | ) www.nbcnews.com time to read: +4 min

A spokesperson for the University of Pittsburgh said it “unequivocally condemns antisemitism” and will provide campus police escorts to Jewish students during the upcoming Jewish holidays. After the attack on Goodwin, two Jewish students at the University of Michigan were assaulted in separate incidents off campus. And on Friday, a group of six to eight men assaulted another Jewish student off campus at the University of Pittsburgh while using antisemitic slurs. They said there were numerous violent attacks on Palestinian, pro-Palestinian and visibly Muslim students around college campuses, as well as harassment of visibly Muslim students or students wearing keffiyehs. In New York that month, a Jewish driver struck a protester with his car at an off-campus demonstration involving Columbia students.

Persons: “, ”, Goodwin, Hassan Nasrallah, Charlotte Kates, ” Kates, Edward Ahmed Mitchell, Kenneth Marcus, Donald Trump, George W, Bush Organizations: University of Pittsburgh, University of Michigan, FBI, NBC News, ”, Islamic Relations, University of Texas, UCLA, Columbia, CAIR, U.S . Commission, Civil Rights, Department’s Locations: Israel, New York, Canadian, ”, Austin, Jewish

☆ Millions of student-loan borrowers just lost access to a key debt relief program — and it could have big financial consequences
▼ + stars: | 2024-10-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The on-ramp period for student-loan borrowers ended October 1. The Fresh Start program, set to return defaulted borrowers to good standing, ends October 2. AdvertisementA program that protected student-loan borrowers from the consequences of missed payments has come to an end. The on-ramp period was implemented last October to give borrowers some leeway after the over three-year pause on federal student-loan payments ended. With the on-ramp period now over, those consequences are back.

Persons: —, Joe Biden, Secretary Miguel Cardona, Pew Organizations: Service, Social Security, Center for American, Secretary, Department, Education Department, Pew Research Center, BI, Higher

☆ Education Dept. extends deadline for defaulted student loan borrowers to get current
▼ + stars: | 2024-09-30 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

The US Department of Education building is seen on August 21, 2024 in Washington, DC. The U.S. Department of Education has extended the deadline for its Fresh Start program for defaulted student loan borrowers until Wednesday morning, according to an agency spokesperson. The original deadline for the Fresh Start program was Sept. 30, but an issue on their website led the department to decide to give borrowers until Wednesday at 3 a.m. to apply for it, the spokesperson told CNBC. Since the pandemic-era pause on federal student loan payments ended, the Education Department has shielded borrowers from the worst consequences of missed payments, including collection efforts and negative credit reporting. Borrowers interested in applying for the Fresh Start program can learn more at StudentAid.gov.

Organizations: US Department of Education, U.S . Department of Education, CNBC, Education Department Locations: Washington ,

☆ A software engineer at Salesforce shares the résumé hack that helped him land his first job out of his master's program
▼ + stars: | 2024-09-23 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

He had only been at Carnegie Mellon University for three months and knew the career fair was not meant for non-graduating students. "When the time came after nine months for my actual career fair, I focused on those companies a bit more." "That really helped because right out of the first career fair I attended properly, I had six or seven calls," he said. This is the résumé that Ghatage used to attend job fairs in 2016:Ghatage's résumé in 2016 during his master's program. Tweaking work experience: Writing about early work experience is tough because it often had limited impact, Ghatage said.

Persons: —, Ghatage, Ghatage's Organizations: Service, Carnegie Mellon University, Business, Google, Cisco, SAP Locations: Salesforce, company's

☆ Student-loan companies that don't do their jobs should be fired, Elizabeth Warren says. Her next target is one that manages 8 million borrowers.
▼ + stars: | 2024-09-22 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

For nearly a decade, Massachusetts Sen. Elizabeth Warren has been working to enforce oversight over Navient, a major student-loan company. Warren and some of her Democratic colleagues were concerned that the company was not properly managing student-loan borrowers' payment options, causing them to accumulate unaffordable student debt. However, it released an accountability framework in December that outlined enforcement actions it would take should servicers harm borrowers, including fining servicers and transferring borrowers to better-performing servicers. For example, MOHELA was the first servicer to be hit with a $7 million fine last October for failing to send on-time billing statements to over 2 million borrowers. Terminate MOHELA's contract and put loan services on notice: we will not tolerate your negligence and exploitation; we will not let you profiteer off vulnerable student borrowers."

Persons: Massachusetts Sen, Elizabeth Warren, Rohit Chopra, Warren, We've, Navient, Chopra, there's, Jim Clyburn, Miguel Cardona, MOHELA, fining, servicers, Ayanna Pressley, we've, who've Organizations: Service, Warren, Democratic, Consumer Financial Protection, Navient, Business, Education Department, BI, Sec, The Education Department Locations: Massachusetts, CFPB

☆ Biden’s student debt forgiveness plan to remain blocked, federal judge orders
▼ + stars: | 2024-09-19 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

A federal judge has extended a temporary restraining order against the Biden administration's latest student loan forgiveness plan, threatening the White House hope to provide financial relief to tens of millions of Americans ahead of the Nov. 5 presidential elections. In the meantime, Hall said he would review the plaintiffs' request for a preliminary injunction against the Biden's relief plan, and the Biden administration's request to dismiss the case. The continuation of the restraining order is the latest setback for the Biden administration's efforts to cancel people's federal student loans. President Joe Biden began promising to alleviate people's education debts during his 2020 campaign bid, but Republican legal challenges have consistently stymied his attempts. The development stems from a lawsuit against the president's aid package brought by seven GOP-led states earlier this month.

Persons: Joe Biden, Randal Hall, George W, Bush, Biden, Hall, Ohio — Organizations: White, Biden, U.S, Republican, GOP, U.S . Department of Locations: Washington , DC, Alabama, Arkansas, Florida, Georgia , Missouri, North Dakota, Ohio

☆ Millions of student-loan borrowers are about to lose a key safeguard that'll put their credit scores and debt relief at risk
▼ + stars: | 2024-09-16 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Read previewA key protection for student-loan borrowers is ending this month. On September 30, the on-ramp period for federal student-loan borrowers is coming to an end. AdvertisementThe Education Department has not announced any further protections for missed payments, but it's working to carry out different forms of relief. Additionally, President Joe Biden's second attempt at broader student-loan forgiveness is also already facing a lawsuit, delaying the timeline for millions of borrowers to get debt relief. The legal challenges, along with the conclusion of the on-ramp period, present a challenging time for student-loan borrowers as the year comes to a close.

Persons: —, Joe Biden's Organizations: Service, Education Department, Business, Public, Office, Congressional, New York Federal Reserve, Social Security, Department, GOP

☆ Teens are losing faith in college, giving rise to interest in the skilled trades
▼ + stars: | 2024-09-16 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Although the data shows the rate of high school graduates enrolling within a year of their graduation is significantly higher for students from low poverty high schools. Junior Achievement and Citizen polled 1,000 teenagers between the ages of 13 and 18 in July. Roughly half, or 49%, believe a high school degree, trade program, two-year degree or other type of enrichment program is the highest level of education needed for their anticipated career path. "Teens are starting to get a clearer idea, if they are not going to go the college route, of what the alternatives might be," said Ed Grocholski, chief marketing officer at Junior Achievement. Advancements in artificial intelligence and technology training have also helped change the equation for some young people, Junior Achievement found.

Persons: Doug Shapiro, Shapiro, Ed Grocholski Organizations: Student Clearinghouse Research, Finance, Junior Achievement, Citizen

☆ Millions of student-loan borrowers' payments are being 'wildly' mismanaged by a major servicer — and it might be time to terminate its contract, over 50 Democratic lawmakers say
▼ + stars: | 2024-09-10 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +1 min

A group of Democratic lawmakers requested increased oversight over student-loan company MOHELA. They said that the Education Department should consider ending MOHELA's contract. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIt might be time for the Education Department to consider firing a major student-loan company, a group of Democratic lawmakers say. For example, in October last year, the Education Department withheld over $7 million in pay from the servicer over its failure to send on-time billing statements to 2.5 million borrowers.

Persons: MOHELA, —, Sen, Elizabeth Warren, Jim Clyburn, Secretary Miguel Cardona Organizations: Democratic, Education Department, Service, Secretary, Business

☆ Trump repeats false claims that children are undergoing transgender surgery during the school day
▼ + stars: | 2024-09-09 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Matt-Lavietes-Byline-Jm.Jpg | Matt Lavietes | ) www.nbcnews.com time to read: +5 min

Former President Donald Trump repeated his false claim that children are undergoing transition-related surgery during their school day, worsening fears among some conservatives that educators are pushing children to become transgender and aiding transitions without parental awareness. What the hell is wrong with our country?” Trump said Saturday at a campaign rally in Wisconsin, a vital swing state. About half the states ban transition-related surgery for minors, and even in states where such care is still legal, it is rare. The law limits the instruction of sexual orientation and gender identity in school and has been replicated in states across the country. Half of all teachers polled, including 62% of elementary school teachers, said elementary school students should not learn about gender identity in school.

Persons: Donald Trump, Jimmy, ” Trump, Trump, —, what’s, ’, ”, Karoline Leavitt, Kate King, Trump’s, Ron DeSantis, Marjorie Taylor Greene, “ Organizations: Liberty, American Association of Medical Providers, NBC, National Association of School Nurses, Democratic, Republican National Convention, DeSantis, Pew Research, Education Department Locations: Wisconsin, U.S, Florida’s, kindergartners

A shutdown would close federal agencies and national parks, while limiting public services and furloughing millions of workers just weeks before the election. House Republicans have now settled on some lines of attack, which they'll highlight in politically charged GOP hearings and investigations into both Harris and her running mate, Minnesota Gov. House GOP probesAfter spending much of the 118th Congress focused on investigating Biden, House Republicans are now shifting their focus to Democrats’ new presidential ticket. Republicans are also focusing on the botched U.S. withdrawal from Afghanistan in 2021, which the Trump campaign has criticized Harris over. The Trump campaign responded by calling the story "fake news."

Persons: Donald Trump, Joe Biden, Kamala Harris, Harris, Tim Walz, Mike Johnson, it’s, Johnson, Republicans ’, Chuck Schumer, Patty Murray, Biden, Walz, Trump, McCaul, Antony Blinken, ” There’s, The, Jamie Raskin, Robert Garcia, Abdel Fattah El, —, Schumer Organizations: WASHINGTON, Capitol, Republicans, Harris . House Republicans, Minnesota Gov, Republican, SAVE, GOP, noncitizens, Democratic, House Republicans, Education Department, Chinese Communist Party, The Biden, Energy, Biden, Harris Energy, Veterans Affairs Committee, Harris Administration, Democrats, Trump, Washington Post, Justice Department, NBC News Locations: Afghanistan, Trump, Minnesota, China, Egypt

☆ A major student-loan company is once again at the center of a lawsuit blocking debt cancellation for millions of borrowers
▼ + stars: | 2024-09-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

Even with the financial burden his student debt has brought him, Larry said he has tried to remain optimistic about the prospect of debt relief, given President Joe Biden and Vice President Kamala Harris' actions during their term. Larry and millions of other student-loan borrowers will have to keep waiting. It's the same argument a different group of GOP states used that led the Supreme Court to strike down Biden's first attempt at broad debt relief last summer. Their arguments are based on internal documents the states obtained from the Education Department to federal student-loan servicers regarding preparation to implement its second try at broader debt relief. According to the documents, the Education Department sent a memo to MOHELA saying, "In September of 2024, the Biden-Harris Administration will launch the Federal Student Loan Debt Initiative."

Persons: missouri Larry, bachelor's, Larry —, —, Larry, Joe Biden, Kamala Harris, I've, they've, I'm, Biden, Biden's, Luke Herrine, Herrine, Harris, Sen, Bill Cassidy, MOHELA, he's Organizations: Service, Business, Higher, University of Alabama, GOP, Department of Education, Education Department, Biden, Harris Administration, Federal, Loan, Initiative, Department, Republican Locations: missouri, Georgia's, Missouri, Missouri , Georgia, Alabama , Arkansas, Florida, North Dakota, Ohio

☆ Supreme Court refuses to revive Biden's latest student loan debt relief plan
▼ + stars: | 2024-08-28 | by ( Lawrence Hurley | ) www.cnbc.com time to read: +3 min

US President Joe Biden speaks about student loan debt relief at Madison Area Technical College in Madison, Wisconsin, April 8, 2024. WASHINGTON — The Supreme Court on Wednesday rebuffed a Biden administration plea seeking to revive the latest plan to tackle federal student loan debt. The court in a brief order denied an emergency request filed by the administration seeking to lift a nationwide injunction imposed by an appeals court. The Education Department issued a regulation finalizing its Saving on a Valuable Education, or SAVE, plan in July 2023, the month after the Supreme Court ruled the administration lacked authority to implement Biden's earlier loan forgiveness program. They say it should be blocked for the same reason that the Supreme Court blocked Biden's earlier plan.

Persons: Joe Biden, WASHINGTON —, Biden, Elizabeth Prelogar Organizations: Madison Area Technical College, WASHINGTON, The Education Department, Valuable Education, Congress, Circuit, Education Department Locations: Madison , Wisconsin, Missouri

The Education Department is assuring schools and students that its financial aid process is under control, after a botched overhaul over the past year that some colleges say has dented incoming classes. Education Secretary Miguel Cardona has vowed that the FAFSA process is being improved after recent missteps. I want to close up [the] Department of Education, move education back to the states. In May, Cardona announced a “full-scale review” of the Federal Student Aid office that oversees FAFSA and promised “transformational changes” at the division. I’ve taken a college and career readiness class from my high school, but it all sounded really confusing,” she said.

Persons: Miguel Cardona, he’s, We’ve, miguel cardona, “ We’ve, ” Cardona, ”, Peter G ., NAICU, couldn’t, ” Mark Becker, Donald Trump, disburses Pell, ” Trump, Elon, Cardona, “ We’re, they’re, ” “, falloff, Beth Maglione, Hanalise Yarbrough, Kristi Childs, Kristi Childs Kristi Childs, Childs, Mason Yarbrough, “, ” Childs, Hanalise, John Jay, she’s “, I’ve, who’s “ Organizations: Department, Education, Federal Student Aid, NBC News, National Association of Independent Colleges, Universities, Education Department, Association of Public, Grant Universities, Department of Education, Republican, Federal, Aid, College, Network, National Association of Student Financial, Madison, Northwest Mississippi Community College, John, John Jay College of Criminal Locations: U.S, DeSoto County , Mississippi, New York City

☆ Meet the millennials who got student-loan forgiveness and now have the freedom to save for retirement, grow their families, and consider going back to school
▼ + stars: | 2024-08-14 | by ( Ayelet Sheffey | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +17 min

Scott M. Smith, 40, wasn't expecting student-loan forgiveness. Scott M. Smith, 40, received student-loan forgiveness through PSLF. AdvertisementThe freedom to go back to schoolFor Paul Smylie, 39, student-loan forgiveness means something else. Smylie's student-loan forgiveness is giving him the financial freedom to consider doing just that. In a rule first established under President Barack Obama, any student-loan borrower who can prove they are totally and permanently disabled is eligible for student-loan forgiveness.

Persons: Scott M, Smith, wasn't, — Smith, servicer, hadn't, —, who's, PSLF, Joe Biden's, Millennials who've, Zers, millennials —, Gen Xers —, Paul Smylie, Smylie, Gen Xers, Chloe Moore, Financial Staples, Keenan Casey, CiCora Leigh, Leigh, Cicora Leigh, Barack Obama, Beverley —, Beverley, Grayson Hofferber, Hofferber, they'll, that's, someone's, Casey Organizations: Service, Public, Business, Education Department, Federal Reserve, SAVE, Appeals, Associated Press, Gallup, Lumina Foundation, millennials, Financial, Army, University of Mississippi, Veterans Affairs, BI, Millennial Wealth Management Locations: Mississippi, Beverley, forbearance, deferment

Former Trump administration officials argue that more foreign students are involved in the campus protests and accuse the Biden administration and universities of withholding such information. He contended that it would be unconstitutional for authorities to try to deport them based solely on their expressing support for Hamas at protests. About 40,000 Palestinians have died in Gaza since Hamas’ terrorist attack on Oct. 7, according to local health officials. Kena Betancur / AFP - Getty Images fileBiden’s approachBiden administration officials told NBC News that Trump’s threats don’t match the realities of the country’s overburdened immigration system. It argued that the Education Department is purposely protecting “pro-Hamas foreign extremists on American college campuses” and failing to provide records on foreign students, or pro-Hamas activities, at schools.

Persons: Donald Trump, Biden, Trump, Ben Wizner, ” Wizner, ” Reed Rubinstein, Stephen Miller, aren’t, “, ”, Rubinstein, ‘, you’re, Seth, ” Trump, Benjamin Netanyahu’s, Kena Betancur, Jon Feere, isn’t, Feere, Kenneth Marcus, George W, Bush, Marcus, Louis D, ” Marcus, Vanessa Harmoush, Nerdeen Kiswani, hasn’t, Kiswani, ” Kiswani, Stephanie Keith, Daniel Richman, Richman, Edward Ahmed Mitchell, that’s, ” Mitchell, it’s Organizations: GOP, Republican National Convention, Democratic National Convention, NBC News, Trump, Israel, Harvard, Emory, University of Pennsylvania, Hamas, American Civil, Technology, America, Justice, “, Fountain, Washington , D.C, Seth Herald, Republicans, Congress, NBC, D.C, Israeli, Brooklyn Museum, Times, U.S, Popular Front, Liberation, Palestine, Columbia University, Getty, Biden, United States, State Department, Immigration, Customs Services, ICE, Center of Immigration Studies, Education Department, Justice Department, Department’s, Civil Rights, Brandeis Center for Human, Department of Education, IDF, Israel Defense Forces, Columbia Law, Islamic, CAIR wouldn’t, CAIR, don’t Locations: Israel, U.S, Chicago, Gaza, Columbia, Columbus, Washington ,, New Jersey, Palestinian, Washington, New York City, Brooklyn, Vandals, New York, Germany, AFP, United States, Palestine

☆ A peak boomer fears she can't retire with $2,000 Social Security payments — and may have to move in with her sons
▼ + stars: | 2024-08-13 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +8 min

Even though her two sons have moved out, she struggles to secure enough to pay her bills and save for the future. She fears that even when she receives about $2,000 a month in Social Security payments in six years, it will not be nearly enough. Related stories"My career path has finally gotten to be decent pay, but it's not great, and I'm still single," Davenport said. Between child support and an increase in work income, her income ended up slightly above the housing assistance cutoff when her kids were growing up. AdvertisementPreparing for the futureDavenport plans to wait until she's 67 to claim her Social Security benefits, which she anticipates will be about $2,000.

Persons: Becky Davenport, —, Davenport, I'm, it's, she's, hasn't, doesn't, spender, we've, She's, wouldn't Organizations: Service, Business, Social, Alaska Permanent Fund, Security Locations: Alaska, Chugiak, Anchorage, East Coast, New Jersey , Pennsylvania, Kentucky

☆ FAFSA rollout was 'a stunning failure,' college aid expert says. Here's how next year will compare
▼ + stars: | 2024-08-13 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

watch nowBy most accounts, the rollout of the new Free Application for Federal Student Aid, better known as FAFSA, was disastrous from the start. Even now, some college students don't know the status of their aid awards for the fall. "The Department's poor planning has led to a stunning failure: Some college students might not have financial aid dollars in their hands in time to start classes in the next few weeks," said Beth Maglione, interim president and CEO of the National Association of Student Financial Aid Administrators. Families 'are falling back on borrowing for college'For many families, financial aid is crucial when it comes to covering college costs, which have now crept into the six figures. The share of parents taking out federal parent PLUS loans to help cover the costs of their children's college education has also grown, other studies show.

Persons: Beth Maglione, Education Miguel Cardona, Mark Kantrowitz, —, Kantrowitz, Sallie Mae's, Jennifer Berg, Sallie Mae, " Berg Organizations: Federal Student Aid, National Association of Student Financial, U.S . Department of Education, Education Department, Department, Education, Finance, Harvard, College

Democratic vice presidential candidate and Minnesota Governor Tim Walz (L), and Republican Vice Presidential candidate Sen. JD Vance (R-OH). Child tax creditMinnesota's new child tax credit is unusual in its narrowness, but it is the most generous in the nation for low-income households. However, a permanent federal child tax credit expansion could be difficult, particularly amid a divided Congress and increasing concerns over the federal budget deficit. Despite the failed procedural vote, Crapo voiced openness to negotiating a "child tax credit solution that a majority of Republicans can support." Vance was not present for the Senate vote, but has expressed support for the child tax credit.

Persons: Tim Walz, Sen, JD Vance, Walz, Vance, Cowen, Seiberg, Jared Walczak, Mike Crapo, Crapo, Vance's Organizations: Democratic, Minnesota, Republican, Getty, Convention, Senate, U.S, Tax, Republicans, Senate Finance Committee, Democrats, Yale Law School Locations: Harris, Idaho, U.S

A dozen school districts in Oklahoma said they will not check students’ immigration status if asked by the state’s education department, in the latest sign of growing resistance to State Superintendent of Public Instruction Ryan Walters. “The focus has changed from public school students to self-centered political aspirations,” said Susan Wray, an elementary school principal in Edmond and a former state education department official. School districts also cannot ask students about their immigration status if it may be used to deny them access to a free public education, according to U.S. Department of Education guidance. The Deer Creek, Pryor, Millwood, Owasso and Jenks school districts told NBC News that they do not currently, nor do they plan to, ask students about their status. He threatened to take over Tulsa Public Schools after the district leadership told a board member she could not lead prayers on the microphone at a graduation ceremony.

Persons: Ryan Walters, Walters, ”, ” Walters, Susan Wray, that’s, “, Rob Miller, Moore, —, Chris Payne, Jeremy Hogan, Kevin Roberts, Miller Organizations: State Board of Education, Oklahoma State Department of Education, Oklahoma, NBC News, Republican, U.S . Department of Education, U.S, Supreme, Bixby Public Schools, Policy Institute, Oklahoma City, Oklahoma Policy Institute, Oklahoma City Public Schools, Tulsa Public Schools, Norman, Union Public Schools, Public, Brooklyn Public Locations: Oklahoma, Edmond, Bixby, Tulsa, Pryor, Millwood, Owasso, Jenks, California

☆ Biden administration's student loan relief plan may be paused for 'months or even a year,' expert says
▼ + stars: | 2024-08-09 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

Alistair Berg | Digitalvision | Getty ImagesThe Biden administration's new affordable repayment plan, known as SAVE, may be on hold for months —or longer — amid a slew of legal challenges. The White House says roughly 8 million people are enrolled in SAVE, or the Saving on a Valuable Education plan. Why the SAVE plan is on holdThe SAVE plan has been a magnet for controversy ever since the Biden administration rolled out the program in the summer of 2023, describing it as "the most affordable student loan plan ever." Indeed, the terms of the new income-driven repayment plan are the most generous to date. However, borrowers pursuing student loan forgiveness should still explore their options, said Elaine Rubin, director of corporate communications at Edvisors, which helps students navigate college costs and borrowing.

Persons: Alistair Berg, Digitalvision, Biden, they're, Elaine Rubin Organizations: SAVE, Republican, U.S . Department of Education, Education Department Locations: Edvisors

☆ A major student-loan company is 'improperly' rejecting some borrowers for debt cancellation they qualify for, 35 Democratic lawmakers say
▼ + stars: | 2024-08-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewA group of Democratic lawmakers wants answers from a major student-loan company on its debt relief process for the borrowers it services. The issue at play: There's a process for borrowers with federal student loans to apply for a debt discharge if they can prove they were defrauded by their school. President Joe Biden's Education Department has canceled debt for millions of borrowers over the past few years under that process. But the lawmakers have said they're concerned Navient is continuing to narrowly define qualifications for discharge, resulting in borrowers being denied relief without sufficient explanations.

Persons: —, Sen, Elizabeth Warren, Madeleine Dean, Bernie Sanders, Ayanna Pressley —, Joe Biden's, Navient —, Warren, Navient, Holder, Leandro Pucci, Pucci, it's, who'd Organizations: Service, Democratic, Business, Joe Biden's Education Department, BI, Navient Locations: Navient

☆ Endowment tax in focus: Here's what to know
▼ + stars: | 2024-08-08 | by ( Robert Frank | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEndowment tax in focus: Here's what to knowCNBC's Robert Frank, Natasha Sarin, Yale Law School and Yale School of Management professor and former Treasury Department official, and William Trachman, Mountain States Legal Foundation general counsel and former Trump education department appointee, join 'Squawk Box' to discuss JD Vance's plan to tax university endowments, how much revenue the tax would raise, and more.

Persons: CNBC's Robert Frank, Natasha Sarin, William Trachman, JD Organizations: Yale Law School, Yale School of Management, Treasury Department, States Legal Foundation, Trump Locations: States

☆ Millions of student-loan borrowers are getting new details on qualifying for Biden's broader debt cancellation plan coming this fall
▼ + stars: | 2024-08-06 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe Education Department is getting closer to delivering student-loan forgiveness to millions of borrowers. Specifically, the department said that only borrowers who have "entered repayment on at least one of their loans when the debt relief is applied would be eligible for forgiveness on the loan(s) in repayment." Borrowers with PLUS loans are considered to have entered repayment when their loans are fully disbursed. Are you hoping to benefit from Biden's student-loan forgiveness plan?

Persons: —, Joe Biden's Organizations: Service, Department, Higher, Business, Public, Federal, Aid

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