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☆ Biden's student-debt relief plans will once again face GOP challenges when Congress returns this fall
▼ + stars: | 2023-08-23 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Biden formally launched the new income-driven repayment plan, known as the SAVE plan. "Just like Biden's student debt transfer scheme, this IDR rule is deeply unfair to the 87 percent of Americans who currently have no student loans and will now have to foot the bill for someone else's debt." Spokespeople for both lawmakers confirmed to Insider that they will introduce bills in the House and Senate to overturn the SAVE plan. Massachusetts Sen. Elizabeth Warren wrote on X, formerly Twitter, on Tuesday that "Biden's SAVE plan helps Americans with student debt by capping interest growth and lowering monthly payments. In addition to repayment reforms for borrowers, the Education Department is also in the process of implementing broad debt relief again using the Higher Education Act of 1965.

Persons: Biden, Foxx, Cassidy, Joe Biden's, Virginia Foxx, Sen, Bill Cassidy —, —, Massachusetts Sen, Elizabeth Warren Organizations: Service, Education Department, Politico, GOP, Senate, Higher Locations: Wall, Silicon, Massachusetts

☆ Student-loan borrowers' interest rates would be 'immediately eliminated' if Democratic lawmakers' new bill is passed
▼ + stars: | 2023-08-02 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

A pair of Democrats introduced a bill to eliminate interest on existing federal student loan balances. "Thanks to this fix, 43 million Americans with existing federally held student loans would see their interest rates immediately eliminated," the press release said. The federal government should not exacerbate the problem by making money off borrowers' federal student loans," Courtney said in a statement. This legislation comes as interest on student-loan payments is beginning to accrue again in September, with borrowers resuming payments one month later. People should not be incurring interest during this 12-month on-ramp period, so I highly urge the administration to consider suspending those interest payments."

Persons: Joe Courtney, Vermont Sen, Peter Welch, Courtney, SCOTUS, Biden's, Pell, Virginia Foxx, Joe Biden's, Alexandria Ocasio, Cortez Organizations: Service, Democratic, Connecticut, Republican, Federal Assistance, FAIR, New York Rep Locations: Wall, Silicon, Vermont, Alexandria

☆ Federal student-loan balances will start growing again in one month when interest returns
▼ + stars: | 2023-08-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

In October, student-loan borrowers will start making payments again. The Education Department announced a number of steps to ease the transition back into repayment. In March 2020, former President Donald Trump first implemented the student-loan payment pause, with waived interest, to give millions of federal borrowers financial relief during the pandemic. An Education Department spokesperson confirmed in June that there is no leeway with that provision. "Student loan interest will resume starting on September 1, 2023, and payments will be due starting in October," a department spokesperson said.

Persons: Donald Trump, Joe Biden, Biden, —, Massachusetts Sen, Elizabeth Warren, New Jersey Sen, Bob Menendez, servicers, Virginia Foxx, Sen, Bill Cassidy —, doesn't, Cassidy, we'll, Miguel Cardona Organizations: The Education Department, Service, Federal, An Education Department, Education Department, Higher, SAVE, Democratic, House, Department Locations: Wall, Silicon, Massachusetts, New Jersey

☆ It's a 'grave mistake' for Biden to resume student-loan payments without first giving borrowers debt relief, 179 advocacy groups say
▼ + stars: | 2023-07-19 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Student-loan payments are set to resume in October without broad debt relief. Nearly 200 organizations called on Biden to deliver relief before payments resume. Biden has started the process to enact debt relief again, but it could take months. But payments are still scheduled to resume in October, and the advocacy groups do not want borrowers to foot another bill without any relief. However, interest would still accrue during that time, so borrowers' balances would still grow — and even more so without any broad debt relief.

Persons: Biden, NAACP —, Joe Biden, —, Education James Kvaal, Virginia Foxx Organizations: Service, Protection Center, NAACP, Education Department, Higher, Administration, —, Education, Republican Locations: Wall, Silicon

☆ Biden's administration just kicked off the process to get student-loan forgiveness to millions of borrowers, vowing to 'work as quickly as possible under the law'
▼ + stars: | 2023-07-18 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Education Department on Tuesday held its first public hearing on its new student-debt relief plan. It comes after the Supreme Court struck down Biden's first route for debt relief in June. Biden is attempting to use the Higher Education Act of 1965, which will take longer than the first plan. We will help as many borrowers as possible, and we will work as quickly as possible under the law." "Taxpayers just got sucker punched – again – by this administration," top Republican on the House education committee Virginia Foxx said after Biden announced the new plan for relief.

Persons: Biden, Joe Biden's, Education James Kvaal, Kvaal, –, Virginia Foxx Organizations: Department, Service, Education Department, Higher, Education, Democratic, Republican, Taxpayers Locations: Wall, Silicon

☆ Is Biden's $39 billion student loan forgiveness action legal? 'Be assured it's going to stay,' says expert
▼ + stars: | 2023-07-18 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Demetrius Freeman/The Washington Post via Getty ImagesHow are the two loan forgiveness actions different? There are four of these plans, which aim to make loan payments more affordable for lower earners. That law gave the president power to revise student loan programs during national emergencies. The Trump administration had leveraged the Heroes Act to implement a student loan payment pause at the onset of the Covid-19 pandemic. However, Congress has already authorized loan forgiveness relative to income-driven repayment plans, dating to when it created them in the 1990s.

Persons: Joe Biden, Education Miguel Cardona, Demetrius Freeman, —, Biden, hasn't, Virginia Foxx, Abby Shafroth, who've, Trump, Shafroth, Kantrowitz Organizations: U.S, Education, Washington, Getty, White, U.S . Department of Education, Department of Education, National Consumer Law Center, National Consumer Law, of Education

☆ House Committee Targets U.C. Berkeley Program for China Ties
▼ + stars: | 2023-07-17 | by ( Ana Swanson | More About Ana Swanson | ) www.nytimes.com time to read: +1 min

It also said Berkeley faculty serving at the institute had received funding from the Defense Advanced Research Projects Agency and other U.S. funding for the development of military applications, raising concerns about Chinese access to those experts. In October, the United States set significant limits on the type of advanced semiconductor technology that could be shared with Chinese entities, saying the activity posed a national security threat. “Berkeley’s P.R.C.-backed collaboration with Tsinghua University raises many red flags,” the letter said, referring to the People’s Republic of China. In a statement to The New York Times, U.C. Berkeley said it took concerns about national security “very seriously" and was committed to comprehensive compliance with laws governing international academic engagement.

Persons: Berkeley’s, Mike Gallagher, Virginia Foxx, Berkeley Organizations: Berkeley, Defense, Research Projects Agency, Tsinghua, Berkeley Shenzhen Institute, Tsinghua University, Wisconsin Republican, Republican, New York Times Locations: Shenzhen, China, United States, People’s Republic of China, Wisconsin, North Carolina, U.C

☆ The Supreme Court ruled Biden used the wrong law to cancel student debt. He's trying again with a different one.
▼ + stars: | 2023-07-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

On Friday, the Supreme Court decided in a 6-3 ruling that Biden's plan to cancel up to $20,000 in student debt cannot move forward. The majority ruled that the states had standing to involve MOHELA in their case, and the law Biden used to cancel student debt demonstrated an overreach of authority. "I believe that the Court's decision to strike down our student debt relief plan is wrong," he added. "Despite this legally unsound Supreme Court decision, the President has the clear authority under the Higher Education Act of 1965 to cancel student debt. "The President has additional legal tools to cancel student debt — and he should use them.

Persons: —, Joe Biden's, it's, Friday's, Brown, Biden, John Roberts, Vermont Sen, Bernie Sanders, Sanders, Massachusetts Sen, Elizabeth Warren, Warren, What's, Mr, Virginia Foxx, Ayanna Pressley, Miguel Cardona, Pressley, Cardona Organizations: Biden, Service, Supreme, US Department of Education, . Nebraska, Administration, Department, Higher, Biden Administration, Democratic, Legal Services Center of Harvard Law School, Massachusetts, Education Department, Republican, Education Locations: ., Vermont, Massachusetts

The Supreme Court ruled on Friday to strike down President Joe Biden's student-loan-forgiveness plan. Republicans, who had said the plan was unfair and unconstitutional, immediately celebrated. Republican lawmakers — many of whom had been outspoken critics of the plan — were happy to see it. Rep. Virginia Foxx, the GOP chair of the Education and Workforce Committee and an outspoken opponent of Biden's plan, wished "good riddance" to Biden's "illegal, economically disastrous taxpayer-funded bailout for the wealthy." Other Republicans took aim at the plan's constitutionality and claims that the relief was unfair, talking points that the GOP seized upon after Biden first introduced the plan.

Persons: Joe Biden's, —, Bill Cassidy, Cassidy, Brown, Biden, Virginia Foxx, Biden's, Foxx, Kevin McCarthy, Nancy Pelosi's, McCarthy, Rep, Pfluger, John Thune, Thune, Eric Schmitt, shouldn't, Schmitt Organizations: Republicans, Service, Republican, Health, Education, Labor, Pensions, Biden, US Department of Education, . Nebraska, GOP, MOHELA, Workforce Committee, Twitter, White Locations: ., Rep, Texas, South Dakota, Missouri

☆ Biden isn't extending the student-loan payment pause — but borrowers might not have to immediately start repayment in October
▼ + stars: | 2023-06-29 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Education Department finalized a three-month grace period after payments resume, per Politico. The Supreme Court will issue a decision on Biden's broad debt relief plan on Friday. In addition to the grace period, Politico also reported that the Education Department will unveil its new income-driven repayment plan in the coming weeks, with implementation soon after. The Education Department did not immediately respond to Insider's request for comment on its forthcoming plans. Amid the repayment debate, the most pressing issue for borrowers right now is whether the Supreme Court will uphold Biden's broad student-loan forgiveness.

Persons: It's, —, Joe Biden's, Biden, Biden's, Virginia Foxx, Foxx, Sen, Bill Cassidy, Secretary Miguel Cardona, Alexandria Ocasio, Cortez Organizations: Education Department, Politico, Service, Joe Biden's Education Department, Republican, Department, Secretary, Democratic Locations: Alexandria, United States

☆ Biden's Education Department is 'ill prepared' to resume student-loan payments for millions of borrowers in 3 months, 2 GOP lawmakers say — and they're demanding 'proof' of a repayment strategy
▼ + stars: | 2023-06-28 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Student-loan payments are set to resume in October. GOP Rep. Foxx and Sen. Cassidy asked the Education Department for its strategy on the resumption. They said they're concerned the department is "ill prepared" to transition borrowers back into repayment. Two Republican lawmakers want to know how the Education Department is preparing for that to happen. Since March 2020, federal student-loan payments — and interest — have been on pause to provide borrowers with financial relief during the pandemic.

Persons: Foxx, Sen, Cassidy, they're, —, Joe Biden's, Miguel Cardona, Biden, Virginia Foxx, Bill Cassidy, Cardona, Mr Organizations: GOP, Education Department, Service, Department, Politico, Federal Student

☆ Online College Classes Are Making the Student Debt Crisis Worse
▼ + stars: | 2023-06-05 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +18 min

She applied and was accepted to the online program in 2020. In exchange for expanding course offerings and recruiting students, OPMs receive a big chunk of the tuition revenue from the online programs, which usually cost the same as in-person schooling. While it's not always the case, many experts and grads told me that OPMs were offering online students a worse education for a sky-high price. A third-party provider to those schools, 2U signs a contract to offer services such as recruiting and technology to boost online enrollment. OPMs have helped fuel the student debt crisis, saddling may students with tens of thousands of dollars worth of debt and an uncertain future.

Persons: Iola Favell, Favell, Rossier, Zavareei, USC Rossier, OPMs, it's, grads, Eric Rothschild, John Katzman, Katzman, Clare McCann, McCann, —, Aaron Ament, Barack Obama, That's, STEFANI REYNOLDS, Helen Drinan, Cabrini University —, Drinan, Democratic Sens, Elizabeth Warren, Tina Smith, Sherrod Brown, Pearson, Rosa DeLauro, Virginia Foxx, Ament Organizations: University of Southern California's Rossier School of Education, USC, Student Defense, Zavareei LLP, US, Education Department upended, Education Department, Arnold Ventures, OPM, Office, Los Angeles Times, Wall Street, Canyon University, Grand Canyon, Century Foundation, Getty, Cabrini University, Simmons University, Democratic, GAO, Republican, GOP, Universities, Protection, Consumer Financial, Bureau Locations: California, Georgetown, —, Pennsylvania, Massachusetts

☆ Online College Class Providers Screwing Over Students, Adding to Debt Crisis
▼ + stars: | 2023-06-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +18 min

She applied and was accepted to the online program in 2020. In exchange for expanding course offerings and recruiting students, OPMs receive a big chunk of the tuition revenue from the online programs, which usually cost the same as in-person schooling. While it's not always the case, many experts and grads told me that OPMs were offering online students a worse education for a sky-high price. A third-party provider to those schools, 2U signs a contract to offer services such as recruiting and technology to boost online enrollment. But beyond scandals, the everyday business of OPMs is leaving many online students with exorbitant bills, despite how cheap it is to administer the courses.

Persons: Iola Favell, Favell, Rossier, USC Rossier, OPMs, it's, grads, Eric Rothschild, John Katzman, Katzman, Clare McCann, McCann, —, Aaron Ament, Barack Obama, That's, STEFANI REYNOLDS, Helen Drinan, Cabrini University —, Drinan, Democratic Sens, Elizabeth Warren, Tina Smith, Sherrod Brown, Pearson, Rosa DeLauro, Virginia Foxx, Ament Organizations: University of Southern California's Rossier School of Education, USC, Student Defense, US, Education Department upended, Education Department, Arnold Ventures, OPM, Office, Los Angeles Times, Wall Street, Canyon University, Grand Canyon, Century Foundation, Getty, Cabrini University, Simmons University, Democratic, GAO, Republican, GOP, Universities, Protection, Consumer Financial, Bureau Locations: California, Georgetown, —, Pennsylvania, Massachusetts

☆ These are the 2 House Democrats who voted with Republicans to overturn Biden's student-loan forgiveness
▼ + stars: | 2023-05-25 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The House passed a bill on Wednesday to overturn Biden's student-debt relief plans. The measure passed by a vote of 218-203 — but it wasn't just Republicans who voted in favor of the legislation. Democratic Reps. Jared Golden of Maine and Marie Gluesenkamp Perez of Washington joined Republicans in voting in favor of overturning Biden's student-debt relief policies. The bill to overturn student-debt relief now heads to the closely divided Senate, where it faces an uncertain path ahead. "House Republicans just voted to throw 260K public servants back into debt & force 36 million Americans to immediately pay back months of paused student loans," Massachusetts Sen. Elizabeth Warren wrote on Twitter on Wednesday.

☆ The House just passed a bill to block student-loan forgiveness and end the payment pause immediately
▼ + stars: | 2023-05-24 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

A bill to overturn Biden's student-debt relief passed the House by a vote of 218-203. Along with blocking broad debt relief, the bill would also end the payment pause. The bill would overturn President Joe Biden's plan to cancel up to $20,000 in student debt for federal borrowers, along with immediately ending the ongoing student-loan payment pause, throwing borrowers back into repayment earlier than expected. Pierce said that means the bill will "unwind debt relief already delivered to hundreds of thousands of public service workers across the country. This will happen because the seventh and eighth payment pauses also give credit towards Public Service Loan Forgiveness for each paused month covered by these executive actions,."

☆ The GOP's bill to permanently block Biden's student-debt relief could cause public servants' loan balances to unexpectedly balloon if it passes, advocacy groups say
▼ + stars: | 2023-05-23 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The SBPC and AFT released a report analyzing the impacts of a GOP bill to overturn student-debt relief. GOP Rep. Virginia Foxx rejected that idea during a hearing last week as Democrats said loans would be reinstated under the bill. However, the text of the CRA statute could suggest the GOP bill might do far more than block Biden's broad debt relief and the student-loan payment pauses. "This resolution will unwind debt relief already delivered to hundreds of thousands of public service workers across the country. The report also estimates that two million public servants making progress toward payments in PSLF could lose "at least some progress toward relief."

☆ House Republicans are planning to vote on a bill this week to deprive over '40 million hard-working' student-loan borrowers of debt cancellation, the White House says — and if passed, Biden will veto
▼ + stars: | 2023-05-22 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Republicans are planning to bring a bill overturning student-debt relief to the House floor for a vote this week. The White House said in a Monday statement that Biden will veto the bill if it makes it to his desk. "This resolution is an unprecedented attempt to undercut our historic economic recovery and would deprive more than 40 million hard-working Americans of much-needed student debt relief," the OMB said. Biden's broad debt relief plan has been blocked since November due to two conservative-backed lawsuits that paused the implementation of the plan. While the resolution could pass the House given the Republican majority, if faces a much trickier path in the Democratic-controlled Senate and White House.

☆ Student-loan borrowers need more 'individual responsibility,' a top GOP lawmaker says as the House advances a bill to block Biden's debt cancellation
▼ + stars: | 2023-05-10 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

A GOP resolution to block student-debt cancellation advanced out of the House education committee on Wednesday. The bill heads to a full House vote, but it's unlikely to pass a Democratic-controlled Senate. 45 is the first step in restoring individual responsibility and solving the root challenges of the student loan system." Republicans have expressed similar sentiments since the lead up to Biden's announcement of broad debt relief. "Let's be clear: this resolution to eliminate student debt relief would hurt millions of student borrowers and their families," he added.

☆ Millions of student-loan borrowers would be forced into 'abrupt and unplanned repayment' if Republicans' plan to overturn Biden's debt cancellation gets passed, 261 advocacy groups tell Congress
▼ + stars: | 2023-05-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The House could likely take a first vote this week on a bill that would overturn student-debt relief. 261 advocacy groups urged congressional leaders on Monday to ensure that doesn't happen. They said the bill could force borrowers into an "abrupt" return to repayment and block targeted relief. "It will also force the Department of Education to unwind loans forgiven under Public Service Loan Forgiveness for first responders, nurses, educators, servicemembers, and hundreds of thousands of other public service workers across the country," they continued. Along with the CRA, McCarthy's bill to raise the debt ceiling — which passed the House two weeks ago — had spending cuts attached that included banning student-loan forgiveness.

☆ House Republicans are planning the first vote to overturn Biden's student-loan forgiveness next week
▼ + stars: | 2023-05-05 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

In March, Republican lawmakers introduced a resolution to overturn Biden's student-debt relief. The House education committee is planning to vote on the bill next week, a spokesperson confirmed to Insider. Even if the resolution passes the House, it likely won't progress in a Democratic-controlled Senate. That hasn't stopped Republicans from coming up with their own plans to block debt relief from happening. Along with the CRA, Speaker of the House Kevin McCarthy's bill to raise the debt ceiling — which passed the House last week — including banning Biden's student-loan forgiveness and blocking any future relief.

☆ House Republicans subpoena labor authorities in Starbucks union dispute
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +2 min

March 22 (Reuters) - The House Education and Labor Committee on Wednesday issued a subpoena to the National Labor Relations Board (NLRB), alleging officials of the labor body failed to conduct fair and impartial union elections at Starbucks Corp (SBUX.O). She has requested a regional NLRB official to provide documents to see if the federal labor board mishandled Starbucks Union elections. The NLRB was investigating a substantial number of additional allegations against Starbucks and working with the Congress, the spokesperson added. Starbucks did not immediately respond to Reuters' requests for comment, while Starbucks Workers United declined to comment. Employees at more than 280 of Starbucks' roughly 9,000 company-operated U.S. locations have voted to join a labor union since 2021 seeking better pay and benefits, improved health and safety conditions and protection against unfair dismissal.

☆ House Republicans subpoena labor authorities in Starbucks union dispute - WSJ
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

The report added the House Committee on Education and the Workforce asked a regional NLRB official to provide documents as to whether the labor body improperly influenced at least one Starbucks election. The top Republican on the House Education and Labor Committee, Virginia Foxx, wrote that she believes the NLRB has communications and documents outlining alleged misconduct in Starbucks elections, the report said. Foxx is seeking documents on the matter and has requested that the NLRB official provide the documents to the committee on March 29, the Journal reported, citing the subpoena. Starbucks, NLRB, the Starbucks Workers United and GOP did not immediately respond to Reuters' requests for comment. Starbucks workers have also filed more than 500 charges against the company with the NLRB, which has ordered the company to reinstate 22 fired employees including some union supporters.

☆ Chuck Schumer vows to fight the latest GOP attempt to block student-loan forgiveness in Congress 'with everything we have'
▼ + stars: | 2023-03-20 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The GAO confirmed to the GOP lawmakers that the debt relief is a rule that can be subject to oversight. The Government Accountability Office confirmed to the GOP lawmakers that it considers Biden's debt relief plan a rule, and "no exception applies." Since Biden announced his debt relief, Republicans have criticized the policy and introduced legislation to block the president from implementing loan forgiveness. "We will continue to fight this cruel Republican attempt to end student debt relief with everything we have." Biden's debt relief plan is currently blocked due to two conservative-backed lawsuits that paused its implementation in November.

☆ 3 reasons student-loan borrowers could start taking on more debt once Biden's plan to lower monthly payments goes into effect
▼ + stars: | 2023-03-14 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Biden released a plan in August to reform income-driven repayment plans for student-loan borrowers. It also projected the more generous plan would lead to increased borrowing given the lower cost to take on debt. While Democratic lawmakers lauded the proposed improvements to IDR plans, Republican lawmakers criticized the proposal, along with its potential cost. Insider has previously reported that Biden's IDR reforms could keep borrowers in the same repayment cycle if it isn't implemented properly. "Under current IDR plans, most borrowers can expect to repay some or all their debt," the analysis said.

☆ A 'financial disaster for millions of Americans' could arise if the Supreme Court strikes down Biden's student-loan forgiveness, Elizabeth Warren details in a new report
▼ + stars: | 2023-02-27 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

The cases that challenged Biden's debt relief are headed to the Supreme Court on Tuesday. "If the Supreme Court sides with the extremist judges, millions of Americans' monthly costs will rise significantly when student loan payments resume later this year," the report said. Still, Republican lawmakers have been adamant that canceling student debt broadly is unfair to those who already paid off their loans or did not borrow for college. Lawsuits are causing 'financial anxiety for vulnerable borrowers'Failing to implement debt relief would put a strain on younger and older borrowers alike. Now, all eyes turn to the Supreme Court, which is expected to hand down rulings in the two cases before the end of its term, typically in late June or early July.

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