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“I’ve had to just put all of my dreams aside and focus on surviving day to day,” Jes Evans, 35, told CNN. Many who responded said they were nearing retirement age but couldn’t imagine being able to stop working, saying they would take their debt to their grave. The White House has forgiven a staggering $153 billion in federal student loan debt, giving a financial lifeline to millions of borrowers. Davis graduated from chiropractic college in 1986, with about $30,000 in debt from federal student loans. He isn’t bitter about it, and he’s not counting on a magic wand to come and zap his debt away.
Persons: , “ I’ve, ” Jes Evans, Evans, ” Evans, , Courtney Brown, they’re, ” Brown, Brown, , Gallup, Josh, He’d, ” Josh, he’s, Amy Coody, she’s, that’s, I’m, Ralph Davis, Davis, , ” Davis Organizations: New, New York CNN, Gallup Lumina, CNN, United States, Lumina Foundation, Biden, Department of Education, Public Locations: New York, Pittsburgh, United, Oregon, Wetumpka , Alabama, Savannah , Georgia
U.S. President Joe Biden speaks as he announces a new plan for federal student loan relief during a visit to Madison Area Technical College Truax Campus, in Madison, Wisconsin, U.S, April 8, 2024. The Biden administration on Tuesday released the draft text of its new student loan forgiveness proposal, which could reduce or eliminate the balances of millions of borrowers. The proposed rules should be formally published in the Federal Register on Wednesday and will be followed by a 30-day comment period. The regulatory text comes about a week after President Joe Biden revealed the details of his Plan B for student loan forgiveness. The Department of Education reviews comments from the public, it hopes to finalize the new rules and start canceling borrowers' debts in the fall, it said.
Persons: Joe Biden, Biden, Harris, Education Miguel Cardona, FAFSA, Biden's Organizations: Madison Area Technical, Truax, Tuesday, Federal, Biden, Harris Administration, Education, Finance, Harvard, Supreme, U.S, The Locations: Madison , Wisconsin, U.S
Few college admission cycles have been as hard on students as this one. National College Decision Day — the deadline most schools set to decide on a college — is just two weeks away. But many college hopefuls are still unsure of where they stand financially, as problems persist with the new Free Application for Federal Student Aid. "This is make or break for students," said Ellie Bruecker, interim director of research at the Institute for College Access and Success. For most students and their families, the college they choose hinges on the amount of financial aid offered and the breakdown between grants, scholarships, work-study opportunities and student loans.
Persons: Ellie Bruecker, FAFSA Organizations: National College, Federal Student Aid, Institute for College, Finance, Harvard, U.S . Department of Education
U.S. President Joe Biden speaks about student loan debt forgiveness in the Roosevelt Room of the White House in Washington, D.C., on Aug. 24, 2022. Evan Vucci | APThe Biden administration announced Friday that it will forgive $7.4 billion in student debt for 277,000 borrowers. The latest round of loan cancellations is a result of the U.S. Department of Education's recent changes and improved oversight of income-driven repayment plans and the popular Public Service Loan Forgiveness program. More than 65,000 borrowers will have their loans canceled through fixes to the Department of Education's income-driven repayment plans, and 4,600 borrowers are benefiting from the improvements to the government's loan forgiveness program for public servants. Aid for these groups in this round of forgiveness amounts to $3.5 billion and $300 million, respectively.
Persons: Joe Biden, Evan Vucci, Education Miguel Cardona Organizations: White, Washington , D.C, AP, Biden, U.S . Department, Public, Education, Finance, Cash, Valuable Education, Department Locations: Washington ,
PhotoAlto/Dinoco GrecoGetting a college degree seems increasingly less appealing. College degree earners fall nearly 3%Community college pathway is 'at risk'Historically, a two-year degree was considered an economical alternative to a bachelor's, or even a more affordable pathway to a four-year college. In fact, just 16% of all community college students ultimately attain a bachelor's degree, according to recent reports by the Community College Research Center at Columbia University, the Aspen Institute College Excellence Program and the National Student Clearinghouse Research Center. Community college as a stepping stone is "at risk," Shapiro said, and "that's very bad news." Submitting a FAFSA is also one of the best predictors of whether a high school senior will go on to college, according to the National College Attainment Network.
Persons: Shapiro, Joe Biden, it's, Sandy Baum, Baum Organizations: Community College Research Center, Columbia University, Aspen Institute College Excellence, Student Clearinghouse Research, Community, Federal, National College, Network, Seniors, U.S . Department of Education, Education, Urban Institute
Many student loan borrowers make payments on their loans for years without ever really putting a dent in them, due to interest that has accumulated and continues to grow. In response, President Joe Biden is taking steps to help student loan borrowers curb what his administration calls "runaway interest." As early as this fall, federal student loan borrowers could see excessive interest charges wiped off their debt, according to the Department of Education. The move is part of a broader student debt forgiveness plan that will soon be open for public comment before going into effect. Here's who may be eligible for forgiveness soon.
Persons: Joe Biden, Biden, James Kvaal, Kvaal, Here's Organizations: Department of Education, CNBC
As Miguel A. Cardona, the education secretary, appeared before lawmakers on Wednesday to make his agency’s case for funding next year, members of both parties had something else on their minds: this year’s chaotic college admissions process. Republicans peppered him with questions about the botched rollout of the new Free Application for Federal Student Aid form, which has derailed college admissions this year. Several of them asked whether the agency had diverted resources away from the project in its pursuit of canceling student debt. “There’s nothing more important right now at the Department of Education,” Mr. Cardona told the House Appropriations Committee of the aid form, saying that the agency was successfully juggling multiple priorities with the resources available. “We’re working on this around the clock.”While Mr. Cardona was testifying, the House Subcommittee on Higher Education and Workforce Development held a separate hearing where lawmakers from both parties said the problems with the aid form had harmed aspiring college students.
Persons: Miguel A . Cardona, ” Mr, Cardona Organizations: Federal, Department of Education, Higher Education, Workforce Development
Read previewAnother lawsuit to block President Joe Biden's new student-loan repayment plan has arrived. On Tuesday, Missouri's Attorney General Andrew Bailey led six other GOP states in filing a lawsuit to block the new SAVE income-driven repayment plan. It's a similar argument to the lawsuit Biden v. Nebraska, which the Supreme Court ruled had standing to strike down Biden's first broad debt relief plan. It said that due to the generosity of the SAVE plan, fewer borrowers will enroll in PSLF, thus undermining states' recruitment efforts into the public sector. This lawsuit follows Biden's release of new details for his broader student-loan forgiveness plan, which is set to benefit over 30 million borrowers.
Persons: , Joe Biden's, Andrew Bailey, Biden's, It’s, E67qx1RMsP —, It's, Biden, MOHELA, Bailey Organizations: Service, Missouri's, Business, Education Department, else’s Ivy League, GOP, An Education Department, US Department of Education, MOHELA, . Nebraska, SAVE, of, Public Locations: Missouri, ., of Missouri, PSLF
[This stream is set to start at 2:15 p.m. President Joe Biden will announce on Monday the details of his new student loan forgiveness plan, which could affect tens of millions of Americans. Immediately after the Supreme Court rejected Biden's first attempt at wide-scale education debt cancellation, the president said he would seek to forgive the loans another way. Despite its smaller scope than Biden's first education debt relief plan, this new aid package could still lead to at least partial forgiveness for 25 million Americans, the Biden administration said. More from Personal Finance:Why gas is so expensive in CaliforniaCredit card users face 'consequences' from falling behindAfter Biden praises progress on inflation, economists weigh inThe plan, if enacted as proposed, would cancel up to $20,000 in unpaid interest for millions of borrowers.
Persons: Joe Biden, Biden's, Biden Organizations: Finance, U.S . Department of Education Locations: California
Borrowers with 'runaway interest'More than 25 million borrowers owe more than they originally borrowed in federal student loans because of accrued interest charges, according to the Biden administration. Anyone enrolled in the Saving on a Valuable Education Plan, or SAVE, or any other income-driven repayment plan would be eligible without having to apply. Borrowers eligible for forgiveness programs, who haven't appliedConsumer advocates and borrowers have complained that the government's debt forgiveness programs can be hard to know about and to access. Borrowers who entered repayment over 20 years agoAnother 2.5 million borrowers would benefit from the forgiveness of student loans that have been held for two decades or longer. Borrowers who enrolled in 'low-value' collegesGraduates with loans from "low-value" institutions or programs would also be eligible for loan forgiveness.
Persons: Biden, they're, haven't Organizations: Public, Education, Federal, Aid, Education Department, Corinthian Colleges, ITT Technical Institute
Women's college basketball popularity is up, but their revenue still lags behind the men's teams. AdvertisementMany women's college basketball teams are setting records for attendance and could see a subsequent revenue boost from ticket, merchandise, and concession sales. Meanwhile, the NCAA sold the television rights to the men's basketball championship separately from the other sports. The deal for men's college basketball is worth more than $1.1 billion annually and also goes through 2032. AdvertisementThose watching for the disparity in revenue between the women's and men's college basketball teams to narrow may have to be patient.
Persons: , University of Iowa's Caitlin Clark, Angel Reese, JuJu Watkins, University of Connecticut's Paige Bueckers, Nielsen, What's, Darron Cummings, Bruce B, Siegel, Greenspoon Marder, Caitlin Clarks, Reeses, Paige Bueckers, Steph Chambers Organizations: Service, NCAA Division, US Department of Education, NCAA, University of Connecticut, North, North Carolina State, South Carolina State University, North Carolina State University, University of Alabama, Purdue University —, Carolina State University —, University of South, University of South Carolina —, of Connecticut, Iowa State, University of Iowa's, University of Southern, University of, LSU, ESPN, North Carolina State's, Duke, Elite, LSU's, Iowa Hawkeyes, AP, Impact, Vanderbilt University, Hawkeyes, Associated Press Locations: North Carolina, South, University of South Carolina, Louisiana, North
Numerous hiccups in the rollout of the updated Free Application for Federal Student Aid have upended this year's financial aid award season. By now, most of the problems with submitting the form have been resolved, but getting the FAFSA information from the ED's Federal Student Aid office to colleges has introduced another slew of issues. "Continually taking two steps forward and one giant step back is not a sustainable pathway toward getting financial aid offers out to students and families." Outside of those erroneous forms being reprocessed, FSA said as of April, schools should start receiving students' financial information within one to three business days of the student submitting their FAFSA. Still, some students may feel the pressure to commit to a school before they've seen all the financial aid offers available to them or skip the FAFSA — and potentially college — process altogether.
Persons: Justin Draeger, they've Organizations: Federal, Education, National College, Aid, Internal Revenue Service, IRS, National Association of Student Financial
Some American universities estimate their total cost of attendance will exceed $90,000 next year. Tuition and fees at universities have continued to climb, even when adjusted for inflation. The result may be a generation of students wondering if college is worth it. AdvertisementThe price of getting a degree has continued to climb at American universities, with the cost of some schools reaching a new threshold. Out-of-state and in-state tuition and fees at public universities have risen by about 38% and 56%, adjusted for inflation, over the same period.
Persons: , Gen, Ana Hernández Kent, Louis Organizations: Service, New York University, Tufts, University of Pennsylvania, Yale, NYU, Board, U.S . News, for Higher, of Education, Universities, Institute for Higher Education, Institute for Economic Equity, Federal Reserve Bank of St Locations: U.S
If you're looking for the best place in the U.S. to raise your family, consider moving to Illinois or Pennsylvania. Both states contain several towns that ranked highly on a recent report from Niche assessing the nation's top family-friendly locales. The two states combined were home to seven of the top 10 places to raise a family in America. Other factors taken into account include:Crime ratesHousingEthnic, generational and economic diversityPercentage of households with childrenPercentage of residents age 17 and underChesterbrook, Penn. took the top spot on Niche's list, thanks in part to the Philadelphia suburb's highly-rated public school system.
Organizations: Census, Department of Education, FBI, Philadelphia Locations: U.S, Illinois, Pennsylvania, America, Penn
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
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe price of getting a degree has continued to climb at American universities, with the cost of some schools reaching a new threshold. This story is available exclusively to Business Insider subscribers. Out-of-state and in-state tuition and fees at public universities have risen about 38% and 56%, respectively, inflation-adjusted over the same period. In a Business Insider and YouGov survey conducted last year, 46% of Gen Z respondents said they don't think college is worth the cost.
Persons: , Gen, Ana Hernández Kent, Louis Organizations: Service, New York University, Tufts, University of Pennsylvania, Yale, Business, NYU, Board, U.S News, of Higher, of Education, Universities, Institute of Higher, Institute for Economic Equity, Federal Reserve Bank of St
Eleven GOP state attorneys general filed a lawsuit to block the SAVE income-driven repayment plan. They argued that the shortened timeline for debt relief through the plan is unconstitutional. An Education Department official said Congress allows the authority to set terms for income-driven repayment. While the lawsuit makes several comparisons to the debt relief plan the Supreme Court struck down, the legal basis for the two plans differ. The Education Department is currently undergoing the negotiated rulemaking process for its second attempt at a broader form of debt relief.
Persons: , Joe Biden's, Kris Kobach —, Miguel Cardona, Biden's, Biden, Kobach, Harris Organizations: GOP, An Education Department, Service, Biden, Education, Republican, Education Department, Business, US Department of Education, Harris Administration, Higher Locations: Kansas
CNN —Several New England universities and colleges have reached a pinnacle of at least $90,000 for undergraduate tuition and costs starting this fall. The nearly six-figure sums reflect the rising cost of higher education, far outstripping the average inflation for other goods and services. Schmeidel said very few Wellesley students pay the total fee, adding nearly 60% of its students receive financial aid and the average financial aid award is $67,469. Riley added 56% of domestic students received some form of aid for this academic year, with the average financial aid package being $67,000, for an average cost of attendance of $16,000. “Because this is an average, some of the students with greatest demonstrated financial need paid $0, and others paid more,” Riley said.
Persons: trumping Wellesley, , Stacey Schmeidel, Schmeidel, ” Schmeidel, Colin Riley, Riley, ” Riley, Jeremiah Quinlan, , Quinlan, Patrick Collins, Collins, ” Collins, CNN’s Allison Morrow Organizations: CNN, Yale University, Tufts University, Boston University, BU, Wellesley College, Tufts, Wellesley, College, Colleges, of Education, Labor, Yale Locations: New England, Boston
MTA Board passes final vote on congestion pricing plan
  + stars: | 2024-03-27 | by ( Mark Morales | ) edition.cnn.com   time to read: +3 min
CNN —Congestion pricing is coming to New York soon with transit officials officially approving the toll structure at a hearing on Wednesday. New York City will soon join other cities such as London, Stockholm and Singapore, with the new congestion pricing plan. Passenger and commercial vehicles will now pay $15 once they enter the “congestion relief zone,” which is below 60th Street in Manhattan. “One of the biggest goals of this is to finally attack congestion but the other side of the equation is to invest more in transit,” Lieber said. Despite the approval and expected implementation of the tolling plan, multiple lawsuits, such as one spearheaded by New Jersey Gov.
Persons: Janno Lieber, ” Lieber, , Phil Murphy, Organizations: CNN, , MTA, New York City Department of Education, Taxi, Limousine Commission, New Jersey Gov Locations: New York, . New York City, London, Stockholm, Singapore, Manhattan, York, United States, Long
Millions of older adults who are behind on their student loans could soon receive a smaller Social Security benefit. "When borrowers are in collections, on average their Social Security benefits are estimated to be reduced by $2,500 annually," the lawmakers wrote on March 19. "This can be a devastating blow to those who rely on Social Security as their primary source of income." Social Security recipients can see up to 15% of their benefit reduced to pay back their defaulted student debt, which "can push beneficiaries closer to — or even into — poverty," the lawmakers wrote. The government's collection practices with student loan borrowers, including the garnishment of wages and Social Security benefits, is an area under review, a source familiar with its plans told CNBC.
Persons: Sen, Elizabeth Warren, Ron Wyden, Biden Organizations: Security, Democratic, Social Security, Social, U.S . Department of Education, Finance, Harvard, CNBC
The Man Who Helped Redefine Campus Antisemitism
  + stars: | 2024-03-24 | by ( Vimal Patel | ) www.nytimes.com   time to read: +1 min
In the early 2000s, as the uprising known as the second intifada instilled fear in Israelis through a series of suicide bombings, Kenneth Marcus, then an official in the U.S. Department of Education, watched with unease as pro-Palestinian protests shook college campuses. “We were seeing, internationally, a transformation of anti-Israel animus into something that looked like possibly a new form of antisemitism,” Mr. Marcus recalled in an interview, adding that U.S. universities were at the forefront of that resurgence. Ever since, Mr. Marcus, perhaps more than anyone, has tried to douse what he sees as a dangerous rise of campus antisemitism, often embedded in pro-Palestinian activism. He has done it as a government insider in the Bush and Trump administrations, helping to clarify protections for Jewish students under the 1964 Civil Rights Act and broadening the definition of what can be considered antisemitic.
Persons: Kenneth Marcus, ” Mr, Marcus, Trump Organizations: U.S . Department of Education, Bush
Maria Korneeva | Moment | Getty ImagesThe Biden administration has set a key deadline for student loan borrowers hoping to get forgiveness. "The opportunity to consolidate loans will help many more borrowers to qualify for student loan forgiveness," said higher education expert Mark Kantrowitz. In normal times, consolidating your student loans can be a terrible move for those hoping to get rid of their debt as your forgiveness timeline is restarted. What to know about consolidating your student loansAll federal student loans are eligible for consolidation, including Federal Family Education Loans, Parent Plus loans and Perkins Loans, Kantrowitz said. Consolidating your loans shouldn't increase your monthly payment, since your bill under an income-driven repayment plan is based on your earnings and not your total debt, Kantrowitz said.
Persons: Maria Korneeva, Biden, Mark Kantrowitz, Kantrowitz Organizations: U.S . Department of, Finance, Harvard, Federal Family, Parent, Perkins Loans
US President Joe Biden speaks during an event to announce that his Administration has approved $1.2 billion in student debt cancellation for almost 153,000 borrowers at the Julian Dixon Library in Culver City, California, on February 21, 2024. The Biden administration announced Thursday it would forgive $5.8 billion in student debt for 77,700 borrowers through the Public Service Loan Forgiveness program. The Biden administration has so far cleared the education debts of nearly 4 million people, totaling $143.6 billion in relief. The Biden administration has worked to fix those issues. Before Biden's fixes to PSLF, just around 7,000 borrowers had received debt relief through the over 15-year-old program, according to the administration.
Persons: Joe Biden, Julian Dixon, Biden, Education Miguel Cardona, George W, Bush Organizations: Julian Dixon Library, Public, U.S . Department of Education, Education, Finance, Social, Security, Consumer Financial, Bureau Locations: Culver City , California
"Students have no confidence that they are going to get the financial aid they need to make college affordable and they are opting out." Under the new aid formula, an additional 2.1 million students should be eligible for the maximum Pell Grant, according to the U.S. Department of Education. However, given the slower pace of FAFSA applications being submitted, "the number of Pell Grant recipients will be about the same as last year, despite the new Pell Grant formula making it easier for students to qualify," Kantrowitz said. "The goal of FAFSA simplification was to increase the number of lower-income students applying. FAFSA completion paves the way to college
Persons: Anne Zinn, Kantrowitz, Pell Grant Organizations: National College, Network, Norwich Free Academy, U.S . Department of Education Locations: Norwich, Conn
A bitter clash over space has emerged in recent weeks at a beloved New York City school building on Manhattan’s Upper West Side that two programs have shared for the past decade. One of the building’s occupants, Public School 145, has added more than 120 new students as a result of an influx of newcomers. The conflict highlights broader fault lines in New York and other large U.S. cities. The country’s public schools have lost more than 1.2 million students since the pandemic began and are facing major budget declines as a result. By 2031, enrollment could plunge by another 2.5 million nationwide, in large part because of declining birthrates.
Organizations: New York, Public, of Education, West Prep Academy Locations: New York City, New York, U.S
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