NewsBreak Original

President Biden's student loan forgiveness plan delivers on a campaign promise that would cancel $10,000 in federal student loan debt for those making less than $125,000 or households with less than $250,000 in income per year. Pell Grant recipients would get an additional $10,000 in debt forgiven.

The Consumer Financial Protection Bureau (CFPB), a federal agency, says some education loan servicers are committing fraud. They are still collecting student debt payments from borrowers, even though the debtors' loans were discharged through bankruptcy.

Following the Supreme Court hearings, the Democrats in Congress have begun to express their support for President Biden's fight against the Student Loan Cancellation scheme, which is currently in limbo.

We believe what we want to believe. And even though I have no illusions about the Biden Administration’s integrity, I fell for it. Did you? A lot of us did. Twenty-six million of us to be exact and according to the Department of Education sixteen million applications have been approved and those loans will be “discharged when allowed by the courts”.

Leading student loan refinancing firm, SoFi, has taken legal action against the federal government, filing a suit to terminate the moratorium on federal student loan payments, which it claims is an "illegal overreach of power." The lawsuit was filed in U.S. District Court in the District of Columbia last week and is believed to be one of the first attempts to end the payment pause through litigation.

Republicans are incensed that the Student Loan program has the potential to cost $400 billion over the next three decades and will deprive states of future tax revenue. Republicans are expressing anger over the projected cost of President Joe Biden's Student Loan forgiveness program due to how it could reach $400 billion over the next 30 years.

Recently the College Foundation of NC, CFNC or CFI, announced that some of the loans they hold will be relocating to another management firm. If you have FFELP loans with CFI they will soon be managed by Nelnet. FFELP loans are set to transfer to Nelnet on 03/25/23.

Conservative judges that are seemingly holding the majority of the Supreme Court could reportedly reject President Biden's Student Loan Forgiveness program. It appears like the conservative justices who make up the majority on the Supreme Court are getting set to put an end to President Joe Biden's plan to forgive or lower the amount of student loans that millions of People currently owe.

The Supreme Court is set to rule on the constitutionality of President Joe Biden's plan to forgive or reduce student loan debt for millions of Americans. The hearing, scheduled for Tuesday, will see the court's conservative majority hear arguments on two challenges against the plan. The proposal has been blocked by lower courts with Republican-appointed judges.

For millions of Americans, the prospect of resuming student loan payments is fast approaching. After a nearly two-year hiatus due to the COVID-19 pandemic, borrowers will need to start repaying their loans again in January 2023. This looming deadline has caused many to wonder how they should prepare for the transition back to student loan payments.

Since President Joe Biden outlined his plan for student loan forgiveness, legal skeptics and Republicans have contended that the plan exceeded constitutional authority. This week, Mississippi's two, U.S. Senators Roger Wicker (R) and Cindy Hyde-Smith (R) are among 43 Republican Senators who filed an amicus brief to the Supreme Court of the United States, supporting respondents in the dual Supreme Court cases challenging Biden’s student-loan debt relief program, Biden v. Nebraska and Department of Education v. Brown.

Approximately 9 million student loan borrowers received false information that their forgiveness applications were approved. In November, the Department of Education sent out updates to 16 million applicants of the Biden administration's student debt forgiveness program, informing them that they had been approved for up to $20,000 in loan forgiveness.

The Biden administration's plan to tackle student debt may cost twice as much as estimated, per a new analysis. This comes as the main debt-relief initiative, forgiving up to $20,000 per borrower, faces legal uncertainty.

Approximately 305,000 individuals in Missouri have submitted applications for Biden's Student Loan Forgiveness program. However, the state has taken legal action by filing papers opposing this initiative.

Behavioral Healthcare Professionals Can Now Apply for up to $180,000 in Student Loan Balance Repayment in Exchange for Service to Communities. New Jersey residents may now apply for the Behavioral Healthcare Provider Loan Redemption Program, announced by the Murphy Administration through the New Jersey Higher Education Student Assistance Authority (HESAA).

President Biden's Administration has tabled newer details that are set to revamp the entire student loan repayment plan for borrowers. United States President Joe Biden and his administration released newer specifics regarding the existing income-driven repayment plan for federal student loan debtors, referred to as the Revised Pay As You Earn plan (REPAYE).

According to the Congressional Budget Office (CBO), President Joe Biden's plan to cancel up to $20,000 in student loan debt for federal aid borrowers is expected to cost approximately $400 billion over the next 30 years. This cost will be added to the country's deficit.

Editor's Note: At least four paragraphs were mistakenly duplicated in the story during processing, and this has now been corrected. President Biden has told the Supreme Court that he did not require Congress authorization for the Student Loan Cancellation program, as he acted within his executive authority.

Counting CoinsPhoto byPhoto by Towfiqu barbhuiyaonUnsplash. If you have student loan debt like me, you should know two important dates:. Student loan pause ends — repayment begins January 1, 2023.

23,000 consumers will receive a total of nearly $20 million to resolve debt relief scam. The Consumer Financial Protection Bureau (CFPB) has announced that some 23,000 student loan borrowers will receive a cumulative sum of nearly $20 million as a case against debt relief companies comes to a close.