Inflation Complicates Biden’s Deliberations on Student Loan Forgiveness

The president is trying to balance his campaign promise to cancel thousands of dollars in student debt for tens of millions of borrowers with concerns such a move would be seen as a handout.

#biden-joseph-r-jr, #colleges-and-universities, #education-department-us, #inflation-economics, #student-loans, #united-states-politics-and-government

What the Fed’s Rate Hike Means for Credit Cards and Student Loans

Consumers can expect to pay more for some of life’s most common kinds of borrowing.

#automobile-financing, #credit-cards, #interest-rates, #prices-fares-fees-and-rates, #student-loans

White House Struggles to Talk About Inflation, the ‘Problem From Hell’

Inflation is upending voter confidence and posing a glaring political liability that looms over the Biden administration’s major policy decisions.

#american-rescue-plan-2021, #biden-joseph-r-jr, #democratic-party, #economic-conditions-and-trends, #federal-reserve-system, #inflation-economics, #prices-fares-fees-and-rates, #stimulus-economic, #student-loans, #united-states-economy, #united-states-politics-and-government

‘Don’t Lose Hope’: Addressing the Breakdown of College Education

Jonathan Malesic responds to readers concerned about the breakdown in college students’ learning since Covid

#colleges-and-universities, #coronavirus-2019-ncov, #e-learning, #student-loans

Corinthian Colleges Student Loans Will Be Forgiven, Education Dept. Says

The Education Department said it would wipe out the debts of 560,000 borrowers who had enrolled in the for-profit college chain, which collapsed in 2015.

#biden-joseph-r-jr, #colleges-and-universities, #corinthian-colleges-inc, #education-department-us, #for-profit-schools, #student-loans

Student Loan Borrowers Got the Debt, but Not the Degree

Millions took out student loans for programs they did not complete. For some, debt cancellation would be life-changing. For others, it would hardly make a dent.

#colleges-and-universities, #community-colleges, #education-department-us, #federal-aid-us, #student-loans

7 Million Bad Student Loans With No Way Out, for Anyone

The Biden administration plans to offer those with loans in default a fresh start. It would help borrowers and the government alike.

#biden-joseph-r-jr, #colleges-and-universities, #consumer-protection, #credit-and-debt, #debt-collection, #education-department-us, #personal-finances, #student-loans

Tressie McMillan Cottom: Cancel Student Loan Debt

Student loan debt is an albatross around the Democrats’ neck.

#bennett-college, #biden-joseph-r-jr, #black-people, #colleges-and-universities, #democratic-party, #student-loans, #united-states-economy

Students Deserve a Student Loan Bailout

Biden’s $10,000 in relief isn’t enough.

#banking-and-financial-institutions, #biden-joseph-r-jr, #clinton-bill, #colleges-and-universities, #democratic-party, #education, #for-profit-schools, #income-inequality, #pell-grants, #student-loans, #subprime-mortgage-crisis, #tuition

Student Debt Is Crushing. Canceling It Is Still Bad Policy.

Canceling student debt won’t fix what’s wrong with higher education.

#biden-joseph-r-jr, #black-people, #colleges-and-universities, #credit-and-debt, #devos-elizabeth-1958, #economic-conditions-and-trends, #education-department-us, #for-profit-schools, #income-inequality, #student-loans, #united-states-politics-and-government

Student Loan Borrowers Don’t Deserve ‘Forgiveness.’ They Deserve an Apology.

Whatever the cost of any student loan cancellation program, it’ll just be money we should have spent on higher education in the first place.

#biden-joseph-r-jr, #colleges-and-universities, #federal-aid-us, #financial-aid-education, #pell-grants, #student-loans, #tuition, #united-states-politics-and-government

Nearing a Grim Milestone: One Million U.S. Covid Deaths

Readers ponder an impending horrible milestone. Also: Grief in our times; college debt; policies and public opinion; students’ letters.

#colleges-and-universities, #coronavirus-2019-ncov, #credit-and-debt, #deaths-fatalities, #education-k-12, #grief-emotion, #polls-and-public-opinion, #student-loans, #united-states-politics-and-government, #vaccination-and-immunization

Democrats Have an Image Problem. Please, Don’t Make It Worse.

With the debate over students loans, are we trying to confirm the stereotype that Democrats serve the needs of educated elites and ignore everyone else?

#biden-joseph-r-jr, #colleges-and-universities, #democratic-party, #inflation-economics, #student-loans, #united-states-politics-and-government

Yes, We Should Cancel Student Debt, but Only for Some

America’s social mobility machine is broken.

#biden-joseph-r-jr, #black-people, #colleges-and-universities, #credit-and-debt, #law-and-legislation, #millennial-generation, #student-loans, #united-states, #united-states-politics-and-government, #warren-elizabeth

To Tackle Student Debt, Fix Ineffective Colleges

Graduates can’t repay their loans if they don’t learn anything useful in school.

#biden-joseph-r-jr, #colleges-and-universities, #devos-elizabeth-1958, #federal-aid-us, #internal-sub-only-nl, #student-loans, #tuition

Student Loans Don’t Need to Be Tied to False Promises

College debtors aren’t a privileged class.

#colleges-and-universities, #economics-theory-and-philosophy, #education-k-12, #income-inequality, #internal-sub-only-nl, #international-trade-and-world-market, #student-loans, #united-states-economy, #wages-and-salaries

Biden Says He Is Taking a ‘Hard Look’ at Student Loan Relief

President Biden said the amount would not be $50,000 per borrower, which some Democrats and advocates are pushing for as a way to address economic and racial disparities.

#biden-joseph-r-jr, #cardona-miguel-a-1975, #colleges-and-universities, #congressional-hispanic-caucus, #education-department-us, #executive-orders-and-memorandums, #law-and-legislation, #student-loans, #united-states-politics-and-government

Will President Biden Forgive Student Loan Debt?

Some advocates believe President Biden’s repeated extensions of the repayment pause, now set to end Aug. 31, could force his hand on loan forgiveness.

#biden-joseph-r-jr, #clyburn-james-e, #credit-and-debt, #education-department-us, #new-america-foundation, #new-georgia-project, #personal-finances, #student-loans, #united-states-economy, #united-states-politics-and-government

Millions of Student Loans Borrowers Get More Credit Toward Forgiveness

A set of piecemeal fixes is intended to address longstanding administrative failures by the government’s loan servicers.

#cardona-miguel-a-1975, #education-department-us, #student-loans, #united-states-politics-and-government

Biden’s Student Loan Dilemma

America’s two-year experiment in debt deferral has had unintended consequences.

#audio-neutral-informative, #biden-joseph-r-jr, #colleges-and-universities, #student-loans, #united-states, #united-states-politics-and-government

Student Loan Payment Pause Will Reset Accounts of Defaulted Borrowers

The change will benefit more than seven million struggling borrowers — but loan servicers have no idea yet how it will work.

#education-department-us, #student-loans, #united-states-politics-and-government

How Biden Is Handling Student Loan Payments Amid Inflation

The administration is in a tight spot as fast inflation makes households unhappy. Trying to offset price pain risks can risk stoking demand.

#biden-joseph-r-jr, #democratic-party, #education-department-us, #federal-reserve-system, #inflation-economics, #student-loans, #united-states-economy, #united-states-politics-and-government

Paying Taxes in 2022: What You Need to Know

Did you make money on GameStop? Miss a stimulus payment? Have a student loan forgiven? Let our guide fill you in.

#content-type-service, #federal-taxes-us, #income-tax, #internal-revenue-service, #student-loans, #tax-credits-deductions-and-exemptions, #unemployment-insurance

Man Posing as Students Convicted in $1.4 Million Loan Scheme

Elliott Sterling of Louisiana falsified nearly 200 financial aid applications and spent at least $250,000 of the money at casinos, prosecutors said.

#baton-rouge-la, #colleges-and-universities, #education-department-us, #elliott-sterling, #financial-aid-education, #frauds-and-swindling, #impostors-criminal, #student-loans

What a Federal Reserve Rate Increase Means for You

Rates on credit cards, savings accounts and different kinds of loans move when the Fed changes its benchmark rate. Here’s what you need to know.

#automobile-financing, #certificates-of-deposit, #content-type-service, #credit-and-debt, #federal-reserve-system, #inflation-economics, #interest-rates, #mortgages, #personal-finances, #prices-fares-fees-and-rates, #savings, #student-loans, #treasury-department, #united-states-economy, #vanguard-group-inc

Who Do Americans Think Should Pay for College?

As student loan debt continues to pile up, the question has never been more urgent.

#children-and-childhood, #colleges-and-universities, #internal-sub-only-nl, #polls-and-public-opinion, #student-loans

Navient’s $1.7 Billion Student Loan Settlement Was Too Good to Be True

The settlement was portrayed as a win-win for 39 states and the loan giant Navient. But thousands who received predatory loans will still have to pay.

#for-profit-schools, #frauds-and-swindling, #navient-corporation, #slm-corporation, #student-loans, #suits-and-litigation-civil

A Success Story, but Also a Myth?

Readers respond to an essay by Tara Westover, the author of “Educated,” about college education and the American dream.

#colleges-and-universities, #education, #financial-aid-education, #income-inequality, #pell-grants, #student-loans, #tuition, #westover-tara

12 Economically Insecure Americans on What Keeps Them Up at Night

Poverty warps the way we see the world: Every broken promise from a politician reinforces the feeling that we live in a system designed to thwart those who most need its help. 

#biden-joseph-r-jr, #careers-and-professions, #coronavirus-2019-ncov, #democratic-party, #hiring-and-promotion, #income-inequality, #inflation-economics, #prices-fares-fees-and-rates, #real-estate-and-housing-residential, #student-loans, #supply-chain, #unemployment, #united-states-economy, #united-states-politics-and-government

Let’s All Sweat Student Debt

Flick that pen, Joe.

#biden-jill-tracy-jacobs, #biden-joseph-r-jr, #capella-university, #colleges-and-universities, #community-colleges, #democratic-party, #federal-aid-us, #for-profit-schools, #grand-canyon-university, #house-of-representatives, #law-and-legislation, #republican-party, #schumer-charles-e, #senate, #strayer-university, #student-loans, #united-states-politics-and-government

6 Who Finally Got the Public Service Loan Forgiveness They Earned

Waves of borrowers in the federal Public Service Loan Forgiveness program are seeing their debts go to zero. Here’s how six of them finally got there.

#colleges-and-universities, #content-type-service, #personal-finances, #student-loans

Navient Reaches $1.85 Billion Deal Over Predatory Lending Claims

The student loan servicer agreed to cancel $1.7 billion in private student loan debts for nearly 66,000 borrowers and to pay $95 million in restitution.

#consumer-financial-protection-bureau, #consumer-protection, #navient-corporation, #personal-finances, #student-loans, #suits-and-litigation-civil

Biden Administration Extends Pause on Student Loan Payments

The Biden administration, under pressure from Democratic lawmakers, announced a three-month extension, citing the ongoing pandemic.

#biden-joseph-r-jr, #coronavirus-aid-relief-and-economic-security-act-2020, #personal-finances, #student-loans

What to Know as Student Loan Repayments Restart in February 2022

Loan payments are about to resume for tens of millions of borrowers. Here’s how to navigate the end of the payment pause — and how to get into a more affordable plan if you need it.

#content-type-service, #coronavirus-2019-ncov, #credit-and-debt, #education-department-us, #financial-aid-education, #student-loans

Woman Stole Daughter’s Identity to Get Loans and Attend College, U.S. Says

Laura Oglesby, 48, of Missouri, who pleaded guilty to intentionally providing false information to the Social Security Administration, lived as someone nearly half her age, the authorities said.

#arkansas, #colleges-and-universities, #identity-theft, #missouri, #northeastern-university, #police-department-mountain-view-calif, #social-security-us, #social-security-administration, #student-loans

Peace Corps Volunteers Fall Through the Cracks of a Student Loan Fix

A deserving group of dedicated people has been left out of the government’s latest patch for the Public Service Loan Forgiveness program.

#content-type-service, #national-service, #peace-corps, #student-loans, #volunteers-and-community-service

The Life-Altering Differences Between White and Black Debt

The sociologist Louise Seamster discusses America’s student debt crisis and how higher education contributes to the racial wealth gap.

#colleges-and-universities, #income-inequality, #klein-ezra, #mcmillan-cottom-tressie, #sociology, #student-loans, #united-states, #united-states-economy

The Big Changes to Public Service Loan Forgiveness, Explained

Hundreds of thousands of borrowers with so-called F.F.E.L. student loans, people who paid late and military members could now get credit for years of payments toward erasing their debts.

#content-type-service, #financial-aid-education, #government-employees, #public-service-loan-forgiveness, #student-loans

Troubled Student Loan Forgiveness Program Gets an Overhaul

The sweeping changes will help more than a half-million public service workers who had thought they were paying down their debt for years.

#american-federation-of-teachers, #cardona-miguel-a-1975, #education-department-us, #federal-aid-us, #government-employees, #student-loans, #united-states-politics-and-government

$10 Billion in Student Debt Erased Under Biden, but Calls Grow for More

Even without the blanket forgiveness that progressives have pushed, the administration has sped up and broadened its relief efforts before borrowers are set to resume payments in January.

#colleges-and-universities, #consumer-financial-protection-bureau, #fedloan-servicing, #for-profit-schools, #national-consumer-law-center, #personal-finances, #student-loans, #united-states-politics-and-government

New Report Measures ‘Return on Investment’ of Various College Degrees

A new report measures the “return on investment” offered by various higher education programs.

#college-scorecard-web-site, #colleges-and-universities, #content-type-service, #labor-and-jobs, #personal-finances, #scholarships-and-fellowships, #student-loans, #tuition, #wages-and-salaries

The Young Fall for Scams More Than Seniors Do. Time for a Warning.

Stop it with the ageism and delusions of invincibility. Young adults often don’t recognize the bad checks coming at them, or fake job offers, either.

#better-business-bureaus, #computer-security, #computers-and-the-internet, #content-type-service, #e-commerce, #frauds-and-swindling, #identity-theft, #personal-finances, #student-loans, #youth

The 20-Day Money Challenge: How to Set Up Your Financial Future

We picked 20 truly essential money lessons, paired with simple tasks for you to take on.

#personal-finances, #student-loans

Federal PLUS College Loans Can Trap Parents in Debt

The popular parent PLUS loans are made without regard to the ability of borrowers to repay, and have fewer protections when they can’t.

#colleges-and-universities, #content-type-service, #credit-and-debt, #financial-aid-education, #personal-finances, #student-loans

Advocate of Revamping Student Loan System Will Head Federal Aid Office

Richard Cordray, who led the federal Consumer Financial Protection Bureau under President Obama, was appointed on Monday as chief operating officer of federal student aid in the Education Department.

#colleges-and-universities, #consumer-protection, #cordray-richard, #financial-aid-education, #student-loans, #united-states-politics-and-government

A Novel Way to Finance School May Penalize Students from HBCU’s, Study Finds

Income-share agreements are gaining popularity, but a new analysis highlights how calculations of what borrowers owe can disadvantage minorities.

#black-people, #chopra-rohit, #colleges-and-universities, #consumer-behavior, #consumer-financial-protection-bureau, #consumer-protection, #frotman-seth, #income-inequality, #national-assn-for-the-advancement-of-colored-people, #student-loans

Left in the Lurch by Private Loans From For-Profit Colleges

The loans have ensnared hundreds of thousands of students, who aren’t protected by the same government safeguards carried by federal loans.

#consumer-protection, #financial-aid-education, #for-profit-schools, #regulation-and-deregulation-of-industry, #student-loans, #vocational-training

Struggling With Mounting Student Debt

Readers discuss an Op-Ed by a woman “drowning” in debt and whether there should be loan forgiveness.

#colleges-and-universities, #income-inequality, #interest-rates, #student-loans

Student Loan Forgiveness Program Made Decisions in 12 Minutes, Documents Say

Education Dept. documents filed in federal court describe a process that denied 130,000 claims from borrowers who say schools misled them.

#alsup-william-haskell, #cardona-miguel-a-1975, #colleges-and-universities, #devos-elizabeth-1958, #education-department-us, #for-profit-schools, #frauds-and-swindling, #student-loans, #suits-and-litigation-civil, #sweet-theresa, #united-states-politics-and-government, #vocational-training

I’ve Spent $60,000 to Pay Back Student Loans and Owe More Than Before I Began

Millions of Americans were forgotten when Congress extended protection for student loan holders. I’m one of them.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #pell-grants, #student-loans