student loan debt
Attempt to kill Biden student debt relief plan tied to income fails in U.S. Senate
WASHINGTON — U.S. Senate Republicans on Wednesday night failed to garner enough votes to block a new Biden administration rule on an income-driven repayment plan for federal student loans. The resolution did not pass, 49-50. Sen. Joe Manchin III of West Virginia was the sole Democrat who joined Republicans in backing the resolution. Sen. Tim […]
Borrowers weigh personal, professional options as student loan payments resume
Justin Brown, a father of a 2-year-old who lives with his wife in the St. Louis, Missouri area, has $20,000 in student loan debt. Before the pause on loan payments at the start of the pandemic in 2020, he paid $300 a month. But now that Brown has a family, his financial responsibilities have grown […]
White House provides another $9 billion in student debt relief as pandemic pause ends
WASHINGTON — As federal student loan repayments restart, the Biden administration Wednesday announced an additional $9 billion in student loan forgiveness for 125,000 borrowers. “For years, millions of eligible borrowers were unable to access the student debt relief they qualified for, but that’s all changed thanks to President Biden and this Administration’s relentless efforts to […]
Student debt relief scams on the rise. Here’s what borrowers need to know.
Complaints about student debt relief scams are increasing as the date approaches for borrowers to restart payment on their student loans after more than a three-year pause. Consumer protection advocates say that the Biden administration’s student debt relief efforts, the subsequent halting of those policies by the courts, and the restart of student loan payments […]
Millions enrolled in new student loan repayment program
WASHINGTON — More than 4 million federal student loan borrowers are enrolled in the Biden administration’s new repayment program, according to figures released Tuesday by the Department of Education. This includes 181,400 Ohioans. With the pause of more than three years on federal student loan repayments coming to an end in October, and the Supreme […]
Here’s what to know about new federal policies for repaying student loans
WASHINGTON — Following the Supreme Court’s summer ruling against 40 million federal student loan borrowers who would have qualified for debt relief, the Biden administration crafted a year-long delay in repayments. The policy, known as an on-ramp, is set to begin next month. Additionally, hours after the Supreme Court’s decision, the Department of Education unveiled […]
“$20,000 is a lot of money.” Ohioans financially plan on student loan debt after SCOTUS ruling
Josh Dodge expects it will take him the rest of his life to pay off his student loans. The 45-year-old graduated with more than $80,000 of student loans after earning his bachelor’s and master’s in middle childhood education from Wright State University nearly a decade ago. “It’s a number that I always compare to ginormous […]
More than 800,000 student loan borrowers to have debt forgiven, White House announces
WASHINGTON — The Department of Education and the White House announced Friday that more than 800,000 federal student loan borrowers will have their remaining debt wiped out. The $39 billion in debt relief will come through fixes to mismanagement of the agency’s income-driven repayment plans. Many long-time borrowers, including those who had been making payments for […]
US Supreme Court rules against Biden administration student loan debt relief plan
WASHINGTON — The U.S. Supreme Court on Friday ruled that the Biden administration does not have the legal authority to enact a one-time student debt relief program, dealing a blow to the 40 million Americans who would have qualified. Last year, the Biden Administration rolled out a debt forgiveness plan for borrowers with federal student […]
Ohio AG Yost signs on to try to stop billions in student loan debt from being forgiven
Ohio Attorney General Dave Yost is trying to prevent billions of dollars of student loan debt from being forgiven. Yost filed an amicus brief recently with the U.S. Supreme Court — along with 19 other states — arguing U.S. Secretary of Education Miguel A. Cardona’s plan to wipe away an estimated $6 billion in student […]
Black student loan borrowers at risk as U.S. Supreme Court weighs forgiveness plan
WASHINGTON — As the Biden administration prepares to defend its student debt cancellation program before the U.S. Supreme Court on Feb. 28, data shows that Black borrowers have the most to lose should a majority conservative court strike down the policy. Black borrowers hold a disproportionate share of student loan debt, and many likely were […]
Student loan repayment pause extended by White House amid legal battles over relief plan
WASHINGTON — The Department of Education announced on Tuesday it is extending the pandemic-era pause on federal student loan repayments until June 30 while legal challenges to the administration’s student debt relief program are fought over in the courts. The agency said if the student debt relief program has not been put in place by […]