President Joe Biden’s administration said on Wednesday it is cancelling $1.2 billion worth of student loans for some 153,000 people who are eligible under a program used to make good on promises to increase loan forgiveness.Biden last year pledged to find other avenues for tackling debt relief after the Supreme Court in June blocked a […]
Tag: student loans
Student loan repayment pause extended by Biden
The Biden administration is yet again extending the pause on federal student loan payments, a benefit that began in March 2020 to help people who were struggling financially due to the Covid-19 pandemic. The extension comes as the Biden administration’s student loan forgiveness program is tied up in the courts. Officials had told borrowers the […]
Biden’s $500B handout ‘slap in the face’ to those who paid their debt
Reacting to the new Biden administration student loan handout plan — which has elicited an array of comments — one New Jersey human resources professional who paid off over $30,000 of student loan debt by scrimping and saving for years told Fox News Digital, “A loan is a loan.” “I didn’t count on the government […]
Student Loan Forgiveness will hurt U.S. Economy
On Wednesday, President Joe Biden announced a plan to cancel a significant amount of student loan debts for tens of millions of Americans who borrowed money to go to college in recent years. Specifically, Biden said he would wipe out $10,000 in debt for those earning less than $125,000 per year and $20,000 for those […]
Student Loan Forgiveness Coming ‘Soon’ says President Biden
President Joe Biden has indicated that he may take action to cancel up to $10,000 of student debt per borrower “soon” in a meeting with Democratic Representative Tony Cardenas. Canceling some student debt could provide Democrats with a boost in the upcoming midterm elections where the party is facing potential defeat. Republicans have come out […]
Biden’s student loan moratorium means higher inflation
President Biden still doesn’t get it. Pandering once again to restive progressives whom he desperately needs to come out and vote in November, Biden has extended the moratorium on student loan repayments through Aug. 31. This is bad policy and will make inflation worse. Inflation emerged in the U.S. last year because amid a fast-recovering […]
2.8 Million Over Age Of 60 Have Student Loan Debt
The number of people 60 and older with student loan debt has quadrupled in the past decade, and older Americans now represent the fastest-growing segment of the U.S. student loan market, according to a new report by the Consumer Financial Protection Bureau. As of 2015, more than 2.8 million Americans over 60 had outstanding student […]