student loans

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Biden Erases Student Debt for 125K Borrowers

Move wipes out another $9B in debt

(Newser) - President Biden announced another round of federal student loan forgiveness on Wednesday as borrowers braced for payments to restart after a three-year pause that began during the COVID-19 pandemic. The president's latest step will help 125,000 borrowers by erasing $9 billion in debt through existing relief programs, the...

Reprieve for Student Loan Borrowers Ends Tomorrow

After pandemic break, millions must start repaying their loans again in October

(Newser) - Millions of Americans must start repaying their federal student loans again in October, with monthly payments averaging hundreds of dollars a month. To get ready, borrowers are cutting expenses, taking on additional work, and looking for options to reduce their monthly payments, per the AP . Megan McClelland, 38, said she'...

White House Wipes Out Student Debt of 800K

Adjustment affects only those who have made payments for years under 'IDR' plans

(Newser) - The Supreme Court rebuffed President Biden's plan to wipe out the student debt of millions of borrowers. Now comes a more modest move by the White House that will nonetheless cancel the remaining debt for about 800,000 borrowers, reports the Washington Post . The move affects only those who...

Biden Reveals Plan to Counter Ruling on Student Loan Relief

President declares 'this fight isn't over' and announces a new strategy

(Newser) - After the Supreme Court blocked his $430 billion student loan forgiveness program on Friday, President Biden said he'll take a different path to provide relief for millions of Americans saddled with college debt. His plan will be "legally sound," the president said in televised remarks, CBS News...

Supreme Court Blocks Biden's Student Loan Forgiveness

Court agrees with states that president overstepped his authority

(Newser) - The Supreme Court just delivered bad news to thousands of college grads: They won't be getting a break of up to $20,000 on their student loans after all. In a 6-3 ruling, the court stuck down President Biden's plan to forgive more than $400 billion in student...

With Clock Running Out, a Slew of Big SCOTUS Cases Loom

Affirmative action and religious and gay rights are also on the agenda before this term closes

(Newser) - The Supreme Court is getting ready to decide some of its biggest cases of the term. The high court has 10 opinions left to release over the next week before the justices begin their summer break. As is typical, the last opinions to be released cover some of the most...

Biden Vetoes Bill to Block Student Loan Forgiveness

Supreme Court already has a chance to decide the issue

(Newser) - President Biden issued his fifth veto Wednesday in an effort to save his student debt relief plan—an issue that's already awaiting decisions by the Supreme Court. "Congressional Republicans led an effort to pass a bill blocking my Administration's plan to provide up to $20,000 in...

Congress Votes to Undo Biden's Student Loan Plan

White House has said president would veto such a move

(Newser) - A Republican measure overturning President Biden's student loan cancellation plan passed the Senate on Thursday and now awaits an expected veto. The vote was 52-46, with support from Democratic Sens. Joe Manchin of West Virginia and Jon Tester of Montana as well as Arizona Sen. Kyrsten Sinema, an independent....

SCOTUS Sounds Skeptical in Student Debt Argument

Conservative justices question plan's fairness

(Newser) - The Supreme Court heard arguments Tuesday in two cases involving President Biden's student loan forgiveness plan—and analysts say the day left the plan's future looking shaky. The arguments stretched almost an hour beyond the allotted two hours, and Chief Justice John Roberts was among the conservative justices...

Supreme Court Tackling a Big Case: Student Loans
Supreme Court Tackling
a Big Case: Student Loans
the rundown

Supreme Court Tackling a Big Case: Student Loans

On Tuesday, justices will hear arguments on whether Biden's loan forgiveness is legal

(Newser) - The Supreme Court on Tuesday will hear arguments in a closely watched case—actually two cases—that will have a tangible effect on the bank accounts of many Americans. The issue is whether President Biden's plan to give people a break of up to $20,000 on their federal...

Biden Is Extending Student Loan Pause

Pause on repayments will continue while debt cancellation plan faces legal challenges

(Newser) - President Biden announced Tuesday that his administration will extend the pause on federal student loan payments while the White House fights a legal battle to save his plan to cancel portions of the debt. "It isn't fair to ask tens of millions of borrowers eligible for relief to...

Appeals Court Grants Injunction Blocking Student Debt Plan

Courts have kept Biden's forgiveness plan from getting started

(Newser) - A federal appeals court granted a preliminary injunction Monday pausing President Biden's program to wipe clean billions of dollars in student debt, the AP reports. Six states challenging the plan had asked the 8th Circuit Court of Appeals in St. Louis for an injunction while issues around the case...

Biden's Student Debt Plan Hits Temporary Roadblock

Federal appeals court puts relief program on hold for now as it reviews case brought by 6 GOP states

(Newser) - Update: President Biden's student loan relief program has been put on hold, at least temporarily, due to an order from a federal appeals court. The New York Times reports that the directive from the 8th US Circuit Court of Appeals, which mandates that the debt cancellation set to start...

Group Asks Supreme Court to Block Student Loan Relief

Emergency filing says Biden program usurps congressional spending authority

(Newser) - No sooner had the Education Department launched its site to accept applications for student debt cancellation than the Supreme Court received an emergency request to block the whole program. A group of Wisconsin taxpayers took its request Wednesday to Justice Amy Coney Barrett, who handles emergency filings involving the 7th...

Application Site Opens for Relief on Student Loans

Online form for Biden's plan will be available during beta testing

(Newser) - The Education Department has begun accepting applications for President Biden's student debt cancellation—a plan that makes 43 million Americans eligible for at least some debt forgiveness. Borrowers were notified late Friday that an early, "beta launch" version of an online form was made available as the department...

Some Borrowers Ineligible After Student Loan Plan Tweak

The change was quietly made the same day 6 GOP-led states sued

(Newser) - With six Republican-led states now suing to stop President Biden's student loan debt relief plan from coming to pass, his administration on Thursday made a quiet, unannounced change to that plan. As CNN reports, about 770,000 borrowers whose federal student loans are guaranteed by the government but are...

Lawsuit Seeks to Block Biden Loan Forgiveness Plan

Plaintiff argues that he'll be forced to pay state income tax on forgiven debt

(Newser) - President Biden's student loan debt forgiveness plan is being challenged by a lawsuit seeking to block it just before it can take effect. In the lawsuit filed in the US District Court for the Southern District of Indiana Tuesday, public interest lawyer Frank Garrison argues that he will be...

CBO to Biden: Here's Your Student Debt Price Tag

$400B over the next 30 years, it estimates

(Newser) - President Biden’s plan for student debt cancellation will cost the federal government about $400 billion over the next 30 years, according to new estimates from the Congressional Budget Office. The figures were released Monday in response to a request from Republican lawmakers who oppose Biden’s plan in large...

White House Has Fiery Reply to Critics of Student Loan Plan

@WhiteHouse tweets their criticism and their own loan forgiveness total

(Newser) - There are plenty of critics of President Biden's student loan forgiveness plan—and on Thursday the White House called out a select group of them by name, reports Politico . The White House Twitter account retweeted a series of tweets from Republican members of Congress blasting the Biden move. On...

Critics Call Biden Student Debt Plan a 'Regressive Mistake'

'WaPo' calls it 'ill-conceived and misdirected'

(Newser) - President Biden rolled out his long-awaited plan for federal student loan debt forgiveness on Wednesday—but while it will erase student debt for an estimated 20 million Americans and reduce it for many millions more, the list of people criticizing the plan is a long one, including those who say...

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