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The Department of Education implemented the repayment plan last year after the Supreme Court struck down Biden’s more sweeping, one-time student loan forgiveness program.
Student loan forgiveness is a contested issue along party lines. Historically, Republicans have been against student loan forgiveness measures, while Democrats have largely supported federal debt ...
When President Joe Biden unveiled his administration's new student debt repayment plan a year ago, he heralded it as "the most affordable student loan plan ever." Now, it also may qualify as one ...
According to the latest loan debt statistics, student loan debt has become the second highest consumer debt category behind mortgage debt. [15] The government combats this large outstanding balance with student loan forgiveness which come in several forms, the two most popular being Public Service Loan Forgiveness and Teacher Loan Forgiveness ...
In October 2021, the Biden administration used the HEROES Act to reform a student debt forgiveness program for public workers. [15] In August 2022, the administration used the Act again to announce student debt cancellation of up to $20,000 and several other reforms.
The Public Student Loan Forgiveness (PSLF) program is a federal program aimed at borrowers whose line of work meets certain criteria. Borrowers who work at least 30 hours per week as an employee ...
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