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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 ...
The federal government is discharging $37 million in student loans for over 1,200 former students who attended the University of Phoenix.
Public Service Loan Forgiveness. 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 ...
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.
Student loan defaults are disproportionately common in the for-profit college sector. [8] Around 2010, about 10 percent of college students attended for-profit colleges, but almost 40 percent of all defaults on federal student loans were to for-profit attendees. [9] The schools whose students have the highest amount of debt are University of Phoenix, Walden University, Nova Southeastern ...
In August 2023, the Biden administration announced that it would forgive $72 million in student loan debt for 2,300 borrowers that attended Ashford University who were defrauded by the institution, [115] then an $37 million in student loan debt to 1,200 borrowers that attended the University of Phoenix who were misled by false advertising by ...
The Biden administration's most successful effort to forgive student-loan debt will end April 30. Here's what you need to do to qualify.
The debt relief is part of the Biden Administration’s larger effort to fulfill their previous campaign promise of student loan forgiveness.