student loans
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 […]
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 […]
‘Anxiety is high’ — Ohioans worried as AG Yost doesn’t want student loan debt to be forgiven
The following article was originally published on News5Cleveland.com and is published in the Ohio Capital Journal under a content-sharing agreement. Unlike other OCJ articles, it is not available for free republication by other news outlets as it is owned by WEWS in Cleveland. Even though the U.S. Supreme Court decided on Thursday that billions in […]
Bill would require Ohio colleges and universities to disclose costs, financial aid and alum income to students
A new higher education bill would require Ohio colleges and universities to be more transparent and forthcoming with costs, financial aid, student loan repayment, and alumni income. House Bill 27 was introduced last month by state Rep. Adam Mathews, R-Lebanon, and state Rep. Jim Thomas, R-Jackson Twp. “This simple common sense bill will help graduating […]
Biden student debt relief plan met with skepticism from U.S. Supreme Court conservatives
WASHINGTON — The majority conservative wing of the U.S. Supreme Court appeared skeptical Tuesday that the Biden administration had the authority to implement a federal student debt relief program that was estimated to potentially aid millions of borrowers. The conservative justices, who hold a 6-3 majority on the court, questioned whether the Department of Education […]
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 […]
New federal student loan repayment plan aimed at low-income borrowers
WASHINGTON — The U.S. Department of Education unveiled a proposal Tuesday that would overhaul a federal student loan income-driven repayment plan, and, if implemented, could help millions of low-income borrowers. However, it’s unclear how the agency would be able to finance the program. Many student debt relief advocates also criticized the proposal for leaving out […]
Economists: Ohio student loan forgiveness might raise tuition, but not inflation
President Joe Biden continues to defer student loan payments as the legality of his plan to forgive $10,000 to $20,000 in student loans is hashed out in court. But if Ohio were to implement its own blanket student loan forgiveness, it might have the ironic effect of incentivizing institutions to raise tuition costs, but would […]