NewsBreak Original

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.

A U.S. District Court Judge in Texas has ruled that President Biden's student loan forgiveness plan is unconstitutional, leaving millions of student loan borrowers in limbo after they were promised debt relief last August.

A month after falling gas prices and student loan forgiveness fueled one of the biggest jumps in optimism in more than a decade, the U.S. economy's recession vibe has returned. In October, the IBD/TIPP Economic Optimism Index fell 3.1 points to 41.6.

The federal application for American citizens seeking student loan forgiveness was officially launched on Monday, marking the latest stage of President Joe Biden's promise to provide debt relief to as many as 43 million debtors.

Student loan debt is a huge problem. While there is a claim that 60% of student debt is owned by those who are 'rich and upper class' (earning more than $74,000 a year), most of those people started only being upper class after they got educated, got a job, and got settled with a lot of debt (after all, why would a trust fund family or the rich take out student loans when they could just pay for their kids to go to college upfront and be done with it?). Basically, it is a situation where people are pretty much given two options: get into a higher tax bracket while suffering from enough debt to make their gains almost meaningless, or stay in their current tax bracket indefinitely.

The Biden administration announced it will forgive around $500 billion in student debt. Up to $20,000 in debt will be forgiven for Pell Grant recipients and $10,000 for other borrowers.

The entrance to Tufts' financial division is pictured on Sept. 13.(Natalie Brownsell / The Tufts Daily) Editor’s note: Trent Bunker was a former staff writer at the Daily. He did not contribute to the writing or editing of this article.

Income Share Agreements will be treated like student loans under proposed new rules. The California Department of Financial Protection and Innovation (DFPI) is proposing new rules to protect individuals participating in Income Share Agreements.

President Joe Biden announced on August 24 that the Department of Education will begin "forgiving" up to $20,000 in student-loan debt for Pell Grant recipients and up to $10,000 for non-Pell Grant students.

President Biden has a plan to forgive $300 billion of student loans on November's midterms, although this could go into play a lot sooner. Canceling up to $10,000 in federal student loan debt for borrowers earning less than $125,000 a year, plus another $10,000 for those with needs-based Pell Grants, adds up to an economic stimulus just as consumers are feeling a financial squeeze.

Low and middle income Americans can take a sigh of relief as $10000 - $20000 of tuition-related debt is expected to be eliminated.(designer491/iStock) Within a few short weeks following New Jersey’s decision to eliminate student debt, Washington D.C. is following suit!

On August 24th, 2022, President Biden announced that many Americans with student loans would receive $10,000 each in debt forgiveness. An eligibility criterion, though: is that an individual's yearly salary must be under $125,000, or their household income must be under $250,000.

Debt relief company Student Advocates ordered to pay $822,000 to defrauded borrowers. The Federal Trade Commission (FTC) has announced an enforcement action against student loan debt relief company Student Advocates that will result in payments to more than 14,000 borrowers scammed by the company.

The Department of Education said on Tuesday that it will forgive 208,000 borrowers' federal student loans totaling almost $4 billion after they were cheated by a well-known for-profit university.

Announcement expands targeted debt relief, public service loan forgiveness. The U.S. Department of Education announced an expansion of programs designed to provide targeted student debt relief. The announcement comes as President Biden's student loan forbearance plans are coming to an end with no extension yet announced.

Good news for New Jersey residents with student debt!(eyecreationphotography/iStock) With the looming weight of student debt repayment coming back within the next month, the pressure has been on.

Biden Administration announces debt relief for 40,000 student loan borrowers. The Biden Administration announced this week that it is taking action to provide debt relief for some 40,000 student loan borrowers who qualify for income driven repayment programs.

More than $16 billion in student loan forgiveness has been doled out by the current administration. But, what many don't realize is that it can have some unintended tax consequences.

How Does Graduating Debt-free With a Little Gelato on the Way Sound?. The money you could save if you get a foreign degreePhoto by Alexander Schimmeck on Unsplash. What if I told you I graduated debt-free and spent three years enjoying gelato and exploring Italian cities while earning a degree in Management — and that you can do it, too?

66,000 Borrowers to have $1.7 Billion in Student Loan Debt Cancelled. In a settlement announced today, student loan servicer Navient has agreed to cancel $1.7 billion in student loan debt owed by 66,000 borrowers, NPR reports.