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WASHINGTON — President Joe Biden announced Friday that his administration is canceling $7.4 billion in student loans for 277,000 borrowers.
The Education Department announced the latest round of cancellation on Wednesday, saying it will erase $7.7 billion in federal student loans.
The Biden administration announced the cancellation of an additional $7.7 billion in student loans for 160,000 Americans Wednesday in its ongoing efforts to relieve soaring college debt.
Student loans come in several varieties, but are basically either federal loans or private student loans. Federal loans are either subsidized (the government pays the interest) or unsubsidized. Federal student loans are subsidized for undergraduates only.
A student loan is a type of loan designed to help students pay for post-secondary education and the associated fees, such as tuition, books and supplies, and living expenses. It may differ from other types of loans in the fact that the interest rate may be substantially lower and the repayment schedule may be deferred while the student is still ...
Thousands of dollars in student loan debt will be canceled for millions of borrowers in California and other states under the new federal plan, which will forgive $10,000 in student loan...
Almost a year after the Supreme Court blocked his original $400 billion plan for widespread student loan forgiveness, President Joe Biden is unveiling his backup plan, which is not as expansive...
AES was created to guarantee and service a variety of Federal Family Education Loan Program (FFELP) and private student loan products for lending partners nationwide. PHEAA exited the FedLoan Servicing Market in December 2022.
President Joe Biden has been fighting for student loan debt forgiveness over the past few years of his term. In 2023, the Supreme Court rejected his initial plan to wipe student loan...
President Biden is trying again to cancel student loan debt for up to 25 million borrowers after the Supreme Court killed his first effort to do so last year. The new plan draws on a different...
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