The report estimates that the plan will slash borrowers’ payments and cost more than President Biden’s recently rejected debt cancellation plan.
Author: Stacy Cowley
Biden Cancels $39 Billion in Student Loans for 800,000 Borrowers
One-time credits will wipe out loans, fixing mistakes made by loan servicers when collecting payments under income-driven repayment programs.
Student Loan Borrowers React to Supreme Court Decision
Millions will now have to repay debts the Biden administration had promised to eliminate.
In an Unsteady Banking Industry, First Republic’s Problems Stood Out
The bank’s rivals appear on firmer footing this time, in contrast with the widespread panic after the failures of Silicon Valley Bank and Signature Bank in March.
White House Extends Pause on Student Loan Payments Until Next Year
The Biden administration said it will hold off on collecting payments to give courts time to rule on lawsuits that have blocked the president’s debt cancellation plan.
Education Dept. to Cancel Loans for Some DeVry University Students
It’s the first such move involving a for-profit chain that’s still in business.
The federal consumer bureau wants to stamp out what it calls ‘junk fees.’
Late payment charges, hotel resort fees and other tacked-on expenses collectively add billions to what Americans pay for goods and services.
S.B.A. Gave $3.7 Billion in Improper Relief Payments, Auditor Finds
The Small Business Administration skipped a basic fraud check and sent billions to recipients barred from receiving federal funds, the agency’s inspector general reported.
Navient, with 6 million borrowers, asks to stop servicing federal student loans.
Navient is the second major federal student loan servicer to ask to get out of the business. FedLoan said in July that it wanted out.