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The Biden administration is canceling nearly $37 million of federal student loan debt for more than 1,200 borrowers who attended the University of Phoenix because it found that the for-profit ...
Student loan relief and the ever-growing cost of higher education has become a major issue in the U.S., and Biden promised to look into cancelation options during his first run for president.
Updated April 12, 2024 at 3:14 PM. WASHINGTON — President Joe Biden announced Friday that his administration is canceling $7.4 billion in student loans for 277,000 borrowers. The White House ...
In the United States, student loans are a form of financial aid intended to help students access higher education. In 2018, 70 percent of higher education graduates had used loans to cover some or all of their expenses. [1] With notable exceptions, student loans must be repaid, in contrast to other forms of financial aid such as scholarships ...
Biden followed up his campaign rhetoric by proposing ambitious plans as president, including a federal student loan forgiveness program that aimed to cancel up to $20,000 per borrower for tens of ...
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service. [1]
In May 2024, the Biden administration announced that it would forgive $6.1 billion in student loan debt for 317,000 borrowers who attended The Art Institutes, a defunct for-profit university system of art schools, due to "pervasive and substantial" misrepresentations to prospective students about post-graduation employment rates, salaries, and ...
April 15, 2024 at 6:33 PM. Breaking news. On Friday, April 12, the Biden-Harris administration announced an additional $7.4 billion in student loan forgiveness for more than 200,000 SAVE Plan ...