All posts tagged "Loans"

A Republican lawmaker complained about student loan forgiveness, only to have the White House remind him about his own forgiven debts.

Oklahoma Rep. Kevin Hern (R) took to social media on Friday to complain about President Joe Biden's latest initiative. Specifically, Biden is reported to have cancelled about $7.4 billion more in student loan debt for 277,000 borrowers.

"Biden's debt transfer scheme puts the burden on taxpayers, forcing the 87% without loans to foot the bill for the 13% who do," Hern said on social media. "Saddling the hardworking taxpayers of America with such a debt transfer will only make life more unaffordable."...

LANSING— The Michigan Republican Party is considering how to deal with "imminent default" on its line of credit, according to a resignation letter from a member of the state GOP's budget committee. The message, obtained Thursday by The Detroit News, reveals the seriousness of the financial struggles of a party in a battleground state, a year before the 2024 presidential election. Kristina Karamo, the Michigan GOP's chairwoman, has struggled to raise money after rising to power in February while railing against the party's "establishment," including past donors. Jessica Barefield of Livingston ......

Student loan payments resume this month, and millions of borrowers across the region are rearranging their budgets to make space for a monthly expense they haven’t had to think about in more than three years. Some who graduated during the pandemic will be making their first student loan payment. The restart comes after more than millions of Americans thought they would be seeing $10,000 or $20,000 of their debt wiped out under President Joe Biden’s plan, only to see the plan get struck down by the U.S. Supreme Court. The rollout has been far from smooth, with reports of long wait times for bor......

MIAMI — More than a year and a half after launching their investigation, U.S. federal agents arrested four suspects in South Florida Tuesday on charges of playing key roles in a plot to kill Haiti’s president, Jovenel Moïse, who was shot to death in his home by an alleged team of Colombian commandos as his presidential guards stood down. The local arrests of the owner of a Miami-area security firm, his business partner, a financier and an exporter mark a turning point in the probe that is now focused on the weapons, ballistic vests and financing that authorities say fueled the deadly plot exec......

The Biden administration is no longer accepting applications for student loan forgiveness after a federal court blocked the administration’s plan. “Courts have issued orders blocking our student debt relief program. As a result, at this time, we are not accepting applications. We are seeking to overturn those orders,” the Federal Student Aid website said in a note shared Friday. The office said it will hold applications from the more than 26 million borrowers who have already applied for forgiveness. Of those who have applied, 16 million have already been approved for forgiveness, according to......

Millions of people will soon benefit from President Joe Biden’s student debt relief plan, though it is unclear if Californians will be taxed on the relief funds. The one-time debt forgiveness of up to $20,000 will not be federally taxed, thanks to the 2021 American Rescue Plan. Previously, debt cancellation was considered taxable income, with some exceptions. Whether or not it will be taxed on a state level, on the other hand, depends on where you live. An estimated 4 million Californians have some form of student debt. Will I have to pay taxes on my debt relief in California?Maybe. Here’s wha......