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President Joe Biden is determined to provide debt forgiveness to federal student loan borrowers, despite more than a year of having his plans challenged and shot down in the courts.The ...
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service. [1]
The Biden administration said Friday that it is using existing student loan forgiveness programs to cancel another round of student debt, totaling $7.4 billion for 277,000 borrowers. Under ...
Before Biden took office, just 7,000 people had ever received debt relief under the program. Under Biden, about 871,000 borrowers have qualified for PSLF and received a total of $62.5 billion in ...
President Joe Biden is expected to announce a new student loan forgiveness program when he visits Madison on Monday. The announcement will come nearly a year after the U.S. Supreme Court knocked ...
In April 2024, Biden announced a revised student loan forgiveness program citing statutory authority under the Higher Education Act of 1965. [102] [103] [104] Under the American Rescue Plan Act of 2021, student loan forgiveness was designated as tax-exempt income through the end of 2025, [105] and Biden proposed making the tax exemption ...
The U.S. Supreme Court might have struck down President Joe Biden’s federal student loan forgiveness program, but it’s pretty clear Biden himself has no plans to give up on debt relief.Last ...
In July 2021, the Biden administration announced that Latreille would serve as the U.S. Department of Education’s student loan ombudsman, its top watchdog for the federal student loan program. In October 2021, the Consumer Financial Protection Bureau announced that Frotman would return to the agency to serve as acting General Counsel.