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☆ Biden administration forgives $39 billion in student debt for more than 800,000 borrowers
▼ + stars: | 2023-07-14 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

President Joe Biden announces new actions on June 30, 2023 to protect borrowers after the Supreme Court struck down his student loan forgiveness plan. The relief is a result of fixes to the student loan system's income-driven repayment plans . The Biden administration announced on Friday it would automatically forgive $39 billion in student debt for 804,000 borrowers. To bring people over the line for forgiveness, the Biden administration counted payments for borrowers who'd paused their payments in certain deferments and forbearances and those who'd made partial or late payments. The announcement comes weeks after the Supreme Court struck down President Joe Biden's sweeping student loan forgiveness plan, which would have delivered relief to about 37 million people.

Persons: Joe Biden, Biden, Education Miguel Cardona, who'd, Joe Biden's Organizations: Education, The Education Department

☆ Biden administration announces student debt forgiveness for 804,000 federal borrowers—here's who qualifies
▼ + stars: | 2023-07-14 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +1 min

The Biden administration announced Friday it would be automatically forgiving student debt for 804,000 federal borrowers as a result of fixes to income-driven repayment plans. The borrowers — who will be notified of their relief in the coming days, the administration said — will have a total of $39 billion in debt forgiven just weeks before they were set to begin making payments again. The new wave of relief brings the Biden administration's amount of total student debt forgiven — which has included Public Service Loan Forgiveness, disability discharges and relief for defrauded students — up to more than $116.6 billion dollars. Student debt relief advocates celebrated the administration's announcement, and now call on officials to keep the momentum going, especially given last month's defeat of Biden's broader student debt forgiveness program in the Supreme Court. "Our student loan system is riddled with structural incompetence, and vulnerable, low-income, and Black and Bbrown borrowers face the harshest effects.

Persons: —, Education Miguel Cardona, Persis Yu, Here's Organizations: Biden, Education, Student, Protection

☆ Biden administration gives student loan borrowers some leeway when payments restart
▼ + stars: | 2023-07-05 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

U.S. President Joe Biden is joined by Education Secretary Miguel Cardona as he announces new actions to protect borrowers after the Supreme Court struck down his student loan forgiveness plan in the Roosevelt Room at the White House on June 30, 2023 in Washington, DC. Chip Somodevilla | GettyExtra protections follow Supreme Court decisionThis aid is not another payment pause extensionFormer President Donald Trump first announced the stay on federal student loan bills and the accrual of interest in March 2020, when the coronavirus pandemic hit the U.S. and crippled the economy. The pause has since been extended eight times. The latest announcement by Biden is not another extension of that policy. (Borrowers' official due date will depend on their loan terms.)

Persons: Joe Biden, Education Secretary Miguel Cardona, Chip Somodevilla, Donald Trump, Biden Organizations: Education Secretary, White House Locations: Washington ,

☆ Everything student-loan borrowers need to know about what will happen when payments restart this fall without broad debt relief
▼ + stars: | 2023-07-03 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Biden announced a new plan to transition borrowers back into repayment after his broad debt relief was struck down. The plan includes a 12-month "on-ramp" period and a new income-driven repayment plan. Along with the on-ramp period, Cardona also said his department has finalized a new income-driven repayment plan for borrowers. If a borrower is already enrolled in the REPAYE plan — an existing income-driven repayment plan — they will automatically be put on the SAVE plan when it becomes available. If a borrower is enrolled in an income-driven repayment plan, they can go to studentaid.gov and select the "My Aid" page, which will list their repayment plan.

Persons: Biden, —, Joe Biden's, overreached, Miguel Cardona, Cardona, we'll, I'm Organizations: Service, Higher, Education Department, Public, Valuable Education

☆ Harvard's legacy admission standards are facing a renewed challenge in the wake of SCOTUS gutting affirmative action
▼ + stars: | 2023-07-03 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

Activists are taking aim at Harvard's preference for legacy applicants in the wake of a landmark Supreme Court ruling. A federal civil rights complaint alleges Harvard is breaking the law with its current preferences. Internal university data illustrates that white applicants overwhelmingly benefit from the current standards. While "legacy applicants were nearly 6 times more likely to be admitted compared to nonlegacy applicants." The civil rights complaint comes after Education Secretary Miguel Cardona urged colleges to take a hard look at legacy preferences they might offer.

Persons: —, John Roberts, Rakesh Khurana, Khurana, Miguel Cardona, Cardona Organizations: Supreme, Harvard, Service, Department of Education's, Civil Rights, Ivy League, Community Economic, Greater Boston Latino Network, Civil, Harvard College, University of North, Education, Associated Press Locations: Universities, England, University of North Carolina

☆ Student-loan borrowers who qualified for the first debt relief plan are not yet guaranteed relief under Biden's new route
▼ + stars: | 2023-07-03 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Biden is planning to cancel student debt under a new law after the Supreme Court struck down his first plan. He'll use the Higher Education Act, which requires hearings and public comment. The Higher Education Act states that the Education Department can "enforce, pay, compromise, waive, or release any right, title, claim, lien, or demand" related to federal student debt. Given the new standards surrounding the Higher Education Act, it's not yet guaranteed that the same borrowers who benefitted from Biden's first proposal will qualify for the president's new plan. "However, the Secretary has directed his staff to explore policy options for debt relief that will help as many people as possible."

Persons: Biden, —, Joe Biden's, It's, Miguel Cardona, it's, Bharat Ramamurti, Cardona, Alexandria Ocasio, Cortez, Ro Khanna, SCOTUS, Khanna Organizations: Service, Higher, Education Department, Education, National Economic Council, New York Rep, CNN, Twitter Locations: Biden's, Alexandria

After the Supreme Court struck down the Biden administration's plan to wipe away about $430 billion dollars in student loan debt, many borrowers are now scrambling to figure out exactly when their next payment is due, how much they owe and whether they'll be able to afford that bill. President Joe Biden has promised to continue to work on a proposal to forgive student loan debt. Yet, "under the law, this path could take time," admitted U.S. Education Secretary Miguel Cardona, vowing to keep borrowers updated in the months ahead. For now, the Biden administration is taking action to help provide some relief to borrowers by offering a more affordable income-driven repayment plan.

Persons: Biden, they'll, Joe Biden, Miguel Cardona Organizations: Education

☆ Why Biden's new plan to cancel student debt is going to take a lot longer than his first proposal
▼ + stars: | 2023-07-03 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

After the Supreme Court struck down Biden's first student-debt relief plan, he announced he'll be trying again. He started the process to use the Higher Education Act of 1965, but it will take longer this time. On Friday, the high court struck down Biden's first plan to cancel up to $20,000 in student debt for federal borrowers using the HEROES Act of 2003. While Republican lawmakers lauded the Supreme Court decision, Democratic lawmakers celebrated Biden's effort to try again under the Higher Education Act. The President has the clear legal authority to cancel student debt under the Higher Education Act.

Persons: he'll, Biden, —, Joe Biden, Miguel Cardona, they'll, Cardona, Bharat Ramamurti, Ramamurti, they're, Warren Organizations: Service, Friday's, Supreme Court, Education, Higher, National Economic Council, Republican, Democratic, Twitter

☆ 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

Thwarted by the conservative-leaning court, Biden told reporters that his administration would pursue student loan relief through a different avenue, the Higher Education Act. In a 6-3 decision earlier on Friday, the Supreme Court blocked Biden's plan to cancel $430 billion in student loan debt. "I believe the court's decision to strike down my student debt relief program was a mistake, was wrong. About 53% of Americans supported Biden's original student loan forgiveness program, while 81% of Democrats did so, a Reuters/Ipsos poll showed this year. "Americans saw right through this desperate vote grab, and we are thankful that the Supreme Court did as well."

Persons: Joe Biden, Biden, I'm, Leah Millis, Elizabeth Warren, Democrat Alexandria Ocasio, Cortez, Miguel Cardona, “, Ronna McDaniel, Steve Holland, Jeff Mason, Rami Ayyub, Andrea Shalal, Trevor Hunnicutt, Timothy Ahmann, Jonathan Oatis, Matthew Lewis Organizations: U.S, Supreme, Higher, The Education Department, Republicans, Democratic, Education Department, Progressive, White, REUTERS, Twitter, Democrat, Reuters, Republican, Education, Republican National Committee, Thomson Locations: Washington , U.S, Washington

☆ Supreme Court blocks Biden student loan forgiveness
▼ + stars: | 2023-06-30 | by ( John Kruzel | ) www.reuters.com time to read: +6 min

Biden plans to announce new actions to protect student loan borrowers in the wake of the ruling, a White House source said, speaking on condition of anonymity. Arkansas, Iowa, Kansas, Missouri, Nebraska and South Carolina challenged Biden's debt relief. The court's conservative justices had previously used the "major questions" doctrine to invalidate major Biden policies deemed lacking clear congressional authorization. Both Biden and his Republican predecessor Donald Trump relied upon the HEROES Act beginning in 2020 to repeatedly pause student loan payments and halt interest from accruing to alleviate financial strain on student loan borrowers during the COVID-19 pandemic. During the arguments, a Justice Department lawyer portrayed the debt relief as a benefits program rather than an assertion of regulatory power not authorized by Congress.

Persons: Joe Biden, Biden, John Roberts, Roberts, Education Miguel Cardona, Pell, Biden's, Elena Kagan, Kagan, Donald Trump, John Kruzel, Steve Holland, Will Dunham Organizations: U.S Supreme Court, Biden, Democratic, Education, Congress, Higher Education, Act, U.S . Centers for Disease Control, Liberal, Republican, Justice Department, Reuters, Thomson Locations: Arkansas , Iowa , Kansas , Missouri , Nebraska, South Carolina, U.S

☆ Borrowers left reeling after Supreme Court decision: Student loans are like a 'pressure cooker that lasts your entire life'
▼ + stars: | 2023-06-30 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

After describing Friday's Supreme Court ruling against student debt relief as "unthinkable," President Joe Biden announced he'd find a new way to ease the burden of student loan payments. Borrowers left reeling after Friday's Supreme Court decisionWhile Biden said the "fight is not over" in his press conference, student borrowers who spoke to CNBC Make It were disheartened about the Supreme Court ruling earlier in the day. Stevens has $40,000 in student loan debt after graduating with a bachelor's degree in secondary education from Northern Arizona University in 2015. She would have qualified for $20,000 in student debt relief if the Biden administration's executive action had been allowed to proceed. If you plan on running for president, you're going to have to have a plan for student loan debt forgiveness.

Persons: Joe Biden, Education Secretary Miguel Cardona, he'd, Biden, Shayna Stevens, Stevens Organizations: Education Secretary, White House, Higher, Higher Education, of Education, CNBC, Arizona Students ' Association, Northern Arizona University, Biden, Arizona Students, Association Locations: Washington , DC

☆ The Supreme Court strikes down Biden's student-loan forgiveness plan, blocking debt relief for millions of borrowers
▼ + stars: | 2023-06-30 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

The Supreme Court struck down Biden's student-loan forgiveness plan. It ruled that the relief under Biden's current plan is illegal and cannot move forward. In November, two conservative-backed lawsuits succeeded in pausing the implementation of Biden's debt relief plan, just one month after applications for the loan forgiveness opened up. "Resuming student debt payments in the middle of an affordability crisis is unconscionable. President Biden needs to deliver on his promise to cancel student debt," Khanna wrote on Twitter.

Persons: —, Joe Biden's, Pell Grant, Biden, Brown, Miguel Cardona, Ro Khanna, Alexandria Ocasio, Cortez, Khanna, We're Organizations: Service, Republican, US Department of Education, Department of Education, . Nebraska, Democratic, —, The Education Department, Education, Supreme, Twitter, Politico, Higher Locations: . Nebraska, ., Alexandria

☆ Chief Justice John Roberts said his opinion to strike down student-loan forgiveness doesn't mean the court opposes all relief. It just means Biden didn't have the authority to carry it out.
▼ + stars: | 2023-06-30 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

On Friday, the Supreme Court struck down President Biden's student-loan forgiveness plan. Chief Justice John Roberts said in his opinion that the Secretary of Education wasn't the proper person to implement it. The Supreme Court thinks it's a matter suited to the legislative branch, rather than the executive one. "The question here is not whether something should be done; it is who has the authority to do it," Roberts concluded. So he could potentially enact a plan to deliver relief using another law, like the Higher Education Act of 1965, which does not rely on a national emergency.

Persons: Biden's, John Roberts, —, Joe Biden's, Miguel Cardona's, Biden, John Roberts scathingly, Roberts, Massachusetts Sen, Elizabeth Warren, they've Organizations: Service, Department, Republican, Higher, Democratic, Twitter Locations: wheelhouse, Massachusetts

☆ 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

☆ Student-loan payments are resuming in 3 months — and borrowers might not be ready for the 'sizeable shock' to their wallets
▼ + stars: | 2023-06-26 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Student-loan payments are set to resume in October. Bank of America and Morgan Stanley highlighted the strain borrowers will face. 34% of surveyed borrowers don't think they can afford the payments at all, Morgan Stanley said. Morgan Stanley survey on student-loan payments. Morgan StanleyAnd a Monday note from Morgan Stanley researchers said that just 29% of federal student-loan borrowers are confident they'll be able to afford payments without adjusting spending in other areas.

Persons: Morgan Stanley, —, Joe Biden's, Donald Trump, Biden, Ethan Harris, Harris, Marshall Steinbaum, Miguel Cardona, Cardona, Ro Khanna Organizations: Bank of America, Service, Joe Biden's Education Department, " Bank of, Family Institute, University of Utah, Senate, Twitter Locations: California

☆ Justice Sam Alito took a luxury fishing trip with a billionaire who supports a group that wants to block Biden's student-loan forgiveness
▼ + stars: | 2023-06-21 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

ProPublica reported that Justice Sam Alito took a luxury fishing trip with billionaire Paul Singer in 2008. Both Singer and Alito denied discussing any business interests related to SCOTUS cases on the trip. That group also filed an amicus brief with the Supreme Court asking it to block Biden's relief plan — a decision the court is expected to hand down in the coming days. The spokesperson also said that Singer did not have "any pending matters before the Supreme Court, nor could Mr. Singer have anticipated in 2008 that a subsequent matter would arise that would merit Supreme Court review." "On no occasion have we discussed the activities of his businesses, and we have never talked about any case or issue before the Court," Alito wrote.

Persons: ProPublica, Sam Alito, Paul Singer, Singer, Alito, SCOTUS, —, Jr, Joe Biden's, Biden, Brown, SBPC, Paul Singer's, Miguel Cardona Organizations: Manhattan Institute, GOP, Service, Republican, Congress, Street, Protection Center, . Nebraska, US Department of Education, Network, Judicial, Democratic, Biden Locations: —, Alaska, ., Brown, Brown and Nebraska

☆ It's official: Student loan payments will restart in October, Education Department says
▼ + stars: | 2023-06-20 | by ( Annie Nova | ) www.cnbc.com time to read: +5 min

The Education Department posted on its website that "payments will be due starting in October," and a recent law passed by Congress will make changing that plan difficult. As a result of the policy, the average borrower likely saved around $15,000 in student loan payments, Kantrowitz said. They sought to repeal Biden's executive action granting student loan forgiveness, but the Biden administration refused to agree to that. Interest will pick up in September, payments in OctoberThe Education Department says borrowers will be expected to make their first post-pause payment in October. For those who still have a balance after the relief, the Education Department has said it plans to "re-amortize" borrowers' lower debts.

Persons: Persis Yu, Donald Trump, Mark Kantrowitz, Kantrowitz, Joe Biden, Biden, Miguel Cardona, That's Organizations: Istock, U.S . Department of Education, Education, Congress, Student, Protection, Republicans, Finance, Department, Biden, Kantrowitz, Education Department

☆ A key driver behind ballooning student-loan balances is about to come back after a 3-year pause
▼ + stars: | 2023-06-19 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Student-loan payments, and interest, have been on pause for over three years. Interest has been a key driver of surging student-loan balances due to capitalization. "I feel like I've actually been responsible, and I've paid a considerable amount of money on my student loans," Wise said. "The only policy that has ever ended this debt cycle is the repayment pause, and the cycle is all but guaranteed to restart once the repayment pause comes to an end." "It would be political malpractice to have students repay student loans under Biden when Trump provided the relief," California Rep. Ro Khanna told The Washington Post.

Persons: —, David Wise, I've, Wise, Miguel Cardona, Joe Biden, Biden, " Cardona, Trump, Ro Khanna Organizations: Service, Education Department, Supreme, Jain, Institute, Federal Student Aid, Congress, Democratic, Biden, Washington Post Locations: California

☆ Biden says the gun safety movement has reached a ‘tipping point’ as he marks one year since passage of major legislation
▼ + stars: | 2023-06-16 | by ( Priscilla Alvarez Sam Fossum Donald Judd | Priscilla Alvarez | Sam Fossum | ) edition.cnn.com time to read: +9 min

The administration has also implemented two dozen executive actions to try to reduce gun violence. But in the absence of congressional action, the White House has turned its focus to state action to try to reduce gun violence. Ten years later, gun violence remains a challenging issue for the White House. But since the law was signed last year, further action on gun violence has stalled in Congress. But gun violence rates more broadly in our cities are going down this year for the first time in a long time,” Murphy told CNN.

Persons: Joe Biden, ” Biden, Biden, –, Barack Obama, “ You’ve, we’ve, he’s, Democratic Sen, Chris Murphy, “ I’m, Sen, Chuck, Schumer, ”, Murphy, Richard Blumenthal, Mark Barden, Sandy, “, Everytown, Giffords, it’s, ” Murphy, Miguel Cardona, Xavier Becerra Organizations: CNN, National Safer Communities, Safer, White, University of Hartford, Sandy Hook Elementary, Capitol, Democratic, Republicans, Democrats, Elementary, Federal Emergency Management, Department of Health, Human Services, Department, Education, of, Mental Health, HHS Locations: Connecticut, United States, Newton , Connecticut, Nashville, Buffalo , New York, Uvalde , Texas, Friday’s

☆ Student-loan borrowers are about to be thrown back into repayment, and the economy will suffer — especially if Biden's debt cancellation is struck down
▼ + stars: | 2023-06-04 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

Education Secretary Miguel Cardona has confirmed student-loan payments will resume this year. In March 2020, former President Donald Trump first implemented the student-loan payment pause to give borrowers financial relief during the pandemic. 'We're looking at a pretty severe fiscal contraction'Steinbaum previously told Insider that the economy has been "more than fine" without borrowers' student-loan payments. But they're a weight, it's about 20 million student-loan borrowers that haven't been paying, they'll have to begin paying more or less in September," Zandi said. Democratic lawmakers have been sounding the alarm on the harmful impacts a payment resumption would have without Biden's broad debt relief.

Persons: Miguel Cardona, —, It's, Donald Trump, Trump, Joe Biden, — Biden, We're, Cardona, Biden, Kevin McCarthy, Marshall Steinbaum, Steinbaum, Mark Zandi, haven't, Zandi, that's, it's, Ayanna Pressley, Countess, Ro Khanna Organizations: Supreme, Service, Education, Family Institute, University of Utah, Education Department, Moody's, CNBC, Relief, Getty, Democratic, Massachusetts, Twitter Locations: Washington ,

☆ 'This bill does end the payment pause': What the debt ceiling deal means for student loan borrowers
▼ + stars: | 2023-06-01 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +2 min

"This bill does end the payment pause," Shalanda Young, director of the Office of Management and Budget, said in a press briefing . It also comes with a condition that the student loan payment pause end after August 30. As Young stated, the debt ceiling bill will lift the payment pause at the end of August. She highlighted that some Republicans wanted to eliminate the possibility of student loan forgiveness as part of debt ceiling negotiations. "Even though [the] House Republicans' bill sought to do away with [debt forgiveness], we saved it in this bill," Young said.

Persons: Shalanda Young, Joe Biden, Kevin McCarthy, Young, Biden, Education Miguel Cardona, they're Organizations: Management, Education, Spectrum, House Republicans

☆ Senate votes to repeal Biden's student loan forgiveness plan. White House warns Biden will veto
▼ + stars: | 2023-06-01 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

The Senate voted to repeal President Joe Biden's student loan forgiveness plan on June 1, 2023. Getty Images | BloombergA GOP-led effort to overturn President Joe Biden's sweeping student loan forgiveness plan passed the Senate on Thursday. The measure, which passed the House along party lines last week, would also nullify the pause on student loan payments. More from Personal Finance:Student loan pay pause eased forgiveness for public servantsExperts say SCOTUS will rule against student loan forgivenessWhat's at stake as SCOTUS weighs student loan forgiveness Sen. John Thune, R-S.D., acknowledged that the passage of the legislation was mostly symbolic. "We should help Americans with student debt, not make their problems worse," Schumer said.

Persons: Joe Biden's, Biden, Education Miguel Cardona, —, It's, Mark Kantrowitz, SCOTUS, What's, Sen, John Thune, Thune, Joe Manchin, Manchin, Biden's, Ed Markey, Markey, Chuck Schumer, Schumer Organizations: Education, Getty, Bloomberg, GOP, Finance, Senate, Democrats, Democratic Locations: York

☆ There's no chance the student-loan payment pause will be extended again this year if McCarthy and Biden's debt-ceiling deal is signed into law
▼ + stars: | 2023-05-30 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

It codifies the end of the student-loan payment pause while protecting Biden's broad debt relief. The agreement included strengthened work requirements on federal programs like SNAP, and it also codified the end of the ongoing student-loan payment pause. "The deal also protects our ability to pause student loan payments should that be necessary in future emergencies." It would "end the student loan payment pause, which provides a vital economic stimulus to millions of students. Black women bear the highest comparative levels of student debt relief because they invest in education at a significant cost.

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