All posts tagged "Student Loans"

President Donald Trump's Education department is yanking credits for thousands of student loan borrowers and claiming "coding errors" are to blame, according to a new report.

The Trump administration is rolling back credits given to teachers, nurses, and nonprofit workers who might see the remainder of their student debt forgiven if they stay on top of their payments and meet other criteria, Politico reported Sunday.

"Playing games with people's payment counts is profoundly cruel," Julia Barnard, the former student loan ombudsman for the Consumer Financial Protection Bureau, told Politico. The Education Department should "hold borrowers harmless for errors they had nothing to do with."...

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."...

Recently leaked emails contain Missouri Higher Education Loan Authority (Mohela) staffers' questions on why the student loan service provider is targeted in the state's GOP-led lawsuit challenging President Joe Biden's student debt forgiveness proposal, The Guardian reports.

Per The Guardian, Mohela "is at the center of the challenge by the GOP-led states, claiming the loan service provider would lose revenue and face negative impacts over its financial obligations to Missouri. Consumer advocates, meanwhile, have pointed out that Mohela stands to gain revenue from Biden's cancellation plan."

The emails, released by the Student Borrower Protection Center, according to the news outlet, echo United States Supreme Court justices' questions regarding "why Mohela did not bring its own legal challenges to Biden's debt cancellation plan and how the Republican-led states could claim harm on their behalf."...

The first time I realized I came from a working class immigrant family was when I was six. I had gone shopping with my mom and aunt when we decided to pop into an open house for a property we could never afford. The moment I laid eyes on that big blue two-story home something in me changed. It became one of many defining moments of my life, and from then on I became obsessed with the traditional version of the American Dream.

WASHINGTON (Reuters) - The House of Representatives on Wednesday passed a bill that would reverse a recent hike in federal student loan interest rates, lowering them to 3.86 percent for undergraduates in the new school year.

Three of the highest-profile colleges in America are suing students over unpaid student loans, according to a Tuesday report in Bloomberg News.