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The Education Department announced the latest round of cancellation on Wednesday, saying it will erase $7.7 billion in federal student loans.
WASHINGTON — President Joe Biden announced Friday that his administration is canceling $7.4 billion in student loans for 277,000 borrowers.
Borrowers with some types of federal student loans have until today to consolidate their loans to qualify for full student loan cancellation or credit toward cancellation.
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 ...
Student loan forgiveness: If you have federal student loans, you may be eligible for student loan forgiveness. You may qualify if you’re a teacher or a medical professional, work for a nonprofit ...
“Falling behind on a student loan is uniquely punishing for families struggling to stay afloat,” Mike Pierce, executive director of the Student Borrower Protection Center (SBPC), says.
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...
Student loan refinancing is when you apply for a new loan to pay off your current student loans, usually to lower your interest rate or extend your payoff timeline.
The new rules would prevent schools from making students sign mandatory arbitration agreements and provide automatic student debt relief a year after a school closes, according to The Hill.