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Department of Education releases new state-by-state numbers showing the effect of four major discharge program proposals for the 4 million borrowers who have already been approved for relief The Biden-Harris Administration today released initial details of a new set of plans that would provide student debt relief for tens of millions of ...
Bankruptcy. Bankruptcy is a legal process that provides relief from overwhelming debt by liquidating assets or creating a repayment plan. Chapter 7 bankruptcy is ideal for unsecured loans (such as ...
The Biden-Harris Administration announced today the approval of $7.4 billion in additional student loan debt relief for 277,000 borrowers. These discharges are for borrowers who signed up for President Biden’s Saving on a Valuable Education (SAVE) Plan and are eligible for its shortened time-to-forgiveness benefit and as a result of fixes made by the Administration to income-driven repayment ...
The Biden-Harris Administration announced today the approval of $7.7 billion in additional student loan debt relief for 160,500 borrowers. These discharges are for three categories of borrowers: those receiving Public Service Loan Forgiveness (PSLF); those who signed up for President Biden’s Saving on a Valuable Education (SAVE) Plan and who are eligible for its shortened time-to-forgiveness ...
In total, the Administration has now approved debt cancellation for nearly 3.9 million hard-working Americans totaling almost $138 billion in relief. Many of these borrowers planned their lives and families around the promise of forgiveness through programs such as Public Service Loan Forgiveness (PSLF).
By centralizing PSLF at the Department, borrowers will have a more streamlined, pleasant experience that will ultimately deliver them the relief they are owed more quickly. We have already approved a total of $62.8 billion in relief for nearly 900,000 borrowers. Our nation’s teachers, nurses, firefighters – and other dedicated public ...
When the pandemic struck in 2020, the federal government made billions of dollars available to help Americans survive the economic downturn and unemployment that ensued, eventually passing on some...
Unwavering commitment to relief The Biden-Harris Administration remains committed to using all available tools to deliver the federal student loan relief that borrowers and their families deserve. In total, the Administration has approved almost $160 billion in relief for nearly 4.6 million borrowers, including: