List of All Articles with Tag 'forgiveness'

Although the Supreme Court struck down President Joe Biden's signature student loan forgiveness program in late June, his administration has found ways to cancel more than $48 billion in debt since then.

The Biden administration has approved debt relief for an additional 125,000 student loan borrowers, totaling $9 billion in forgiveness, the White House said Wednesday.

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 school misled students about job prospects.

Republicans called the debt write-off for 800,000 borrowers "a slap in the face to hard-working taxpayers".

Even though the Supreme Court struck down President Joe Biden's student loan forgiveness program, more debt will be canceled during his time in office than under any other president.

The Supreme Court struck down President Joe Biden's student loan forgiveness program Friday, blocking millions of borrowers from receiving up to $20,000 in federal student debt relief, just months before student loan payments are set to restart after a yearslong pause.

In a stinging defeat for President Joe Biden, the Supreme Court blocked the administration's student loan forgiveness plan Friday, rejecting a program aimed at delivering up to $20,000 of relief to millions of borrowers struggling with outstanding debt.

Millions of borrowers may learn soon whether they could receive up to $20,000 in debt relief under President Joe Biden's student loan forgiveness program. The fate of the debt cancellation program lies with the Supreme Court, which is expected to rule in late June or early July.

President Joe Biden officially vetoed legislation Wednesday that would block his student loan forgiveness program, blasting lawmakers who supported the bill for what he called an "unprecedented attempt to deny critical relief to millions of their own constituents."

Both the Senate and the House have now passed a bill to block President Joe Biden's student loan forgiveness program, which promises to cancel up to $20,000 of debt for millions of borrowers but has been held up by courts.

If passed into law, the bipartisan debt ceiling deal will dash any hope borrowers might have that the federal student loan payment pause would be extended for a ninth time.

The Biden administration's one-time student loan forgiveness program is facing a fresh threat from House Republicans while it awaits a ruling from the Supreme Court about whether the proposal can take effect.