Tag: student loans

Biden Extends Pause on Student Loan Payments

Last week, Klobuchar sent a letter to Michael Rapino, CEO of ticketing giant Live Nation, expressing concerns about the ticketing industry’s monopolistic behavior, and questioning Rapino on whether Live Nation’s practices were working to mitigate those monopolistic tendencies. Senator Richard Blumenthal and Representatives Ilhan Omar, Alexandria Ocasio-Cortez, David Cicilline, and Bill Pascrell joined Klobuchar in […]

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Biden Can Still Counter the Bogus Right-Wing Student Loan Lawsuits

In other words, they are claiming to be harmed because they are not eligible for cancellation, or enough of it. But instead of suing to expand the program, which would make sense, they are party to a reactionary lawsuit seeking to block relief for everyone. We can’t know their private motives—astonishing pettiness, far-right conservative ideology, […]

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The old problem with the young: Biden courts elusive voting bloc

President Biden is aggressively pursuing younger voters, leaning into the issues of reproductive rights and student loan forgiveness in an effort to drive to the polls a bloc that traditionally sees lower turnout. “Historically we’ve had a problem with younger voters falling off during the midterms,” said Democratic strategist Rodell Mollineau, who served as an […]

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Applying for Student Loan Debt Relief Is Easy. Imagine That.

The Biden administration unveiled its student loan forgiveness application online a week ago. Twitter lit up with joyful posts about debt relief, as well as about the surprisingly easy process. “Incredible. Took about 120 seconds.” “Super easy and painless. I feel so hopeful!” Twenty-two million people submitted applications during the first week the website was […]

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As Midterms Near, Biden Warns Republicans Seek to Dismantle Democratic Legislation

WASHINGTON — President Biden warned on Friday that Republicans could upend legislative victories achieved under his administration and a Democratic Congress if the G.O.P. were to win control of Congress in November’s midterm elections. “They don’t have a platform other than to tear down what I’ve been able to do, we’ve been able to do.” […]

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Appeals Court Temporarily Halts Biden’s Student Debt Cancellation

A federal appeals court on Friday temporarily halted President Biden’s student debt relief plan, preventing the government from moving forward with the debt cancellation it had said could start as early as next week. The U.S. Court of Appeals for the Eighth Circuit granted a stay in response to an appeal filed by six Republican-led […]

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Biden Says 22 Million Americans Have Applied for Student Loan Debt Relief

DOVER, Del. — President Biden said Friday that 22 million Americans had applied for federal student loan relief since his administration opened the program this week, and he accused Republicans of hypocrisy for trying to block the initiative. In a speech at Delaware State University, a historically Black school, Mr. Biden tried to draw sharp […]

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Biden to Republicans on student loan plan: ‘Who the hell do they think they are?’

President Biden on Friday bashed Republicans who have attacked his student loan forgiveness plan, calling out certain lawmakers like Sen. Ted Cruz (Texas) and Rep. Marjorie Taylor Green (Ga.). “Ted Cruz, the great senator from Texas, he said it’s for slackers — quote slackers — who don’t deserve relief. Who the hell do they think […]

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Justice Barrett Rejects Plea to Stop Biden’s Student Loan Debt Plan

WASHINGTON — Justice Amy Coney Barrett on Thursday rejected a challenge to President Biden’s student debt relief program from a taxpayers’ association in Wisconsin that said he had overstepped his authority in adopting the sweeping measure, one that could cost the government hundreds of billions of dollars. Justice Barrett denied the association’s challenge without comment, […]

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Biden Opens Applications for Student Debt Cancellation

The federal government on Monday began accepting applications for President Biden’s promised student debt cancellation of up to $20,000 per borrower. Those who meet the program’s annual income limits — up to $125,000 per individual or $250,000 per household — can apply online at https://studentaid.gov/debt-relief/application. “This is a game changer for millions of Americans,” Mr. […]

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The Student Loan Borrowers Who Keep Missing Out on Relief

For similar reasons, the Public Service Loan Forgiveness program, which began in 2007, also excluded those FFEL borrowers. They often didn’t know that, though, and when they called for help, customer service agents often gave them incorrect information about their eligibility. The Education Department is now trying to rectify that problem, albeit too late for […]

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Student Debt Cancellation Site Opens for Beta Testing

Late Friday night for the first time, some borrowers were able to apply for up to $20,000 in student loan cancellation that President Biden had promised in August. The Education Department, which directly holds $1.6 trillion in federal student loan debt owed by 45 million borrowers, said it had begun “beta testing the student debt […]

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Lawsuits, shrunk eligibility take the shine off Biden’s student debt relief

President Biden’s student loan forgiveness plan hit multiple road bumps this week, leading to the administration ultimately scaling back eligibility, excluding hundreds of thousands of borrowers from its relief plan. The administration was confronted with the first round of lawsuits against the program, as well as a tough score from the Congressional Budget Office (CBO) […]

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Biden’s Plan for Student Loans Attracts Lawsuits, Scams and Confusion

WASHINGTON — President Biden’s program to erase large amounts of student loan debt attracted criticism immediately after it was announced in August and, more recently, several lawsuits. Scammers have targeted borrowers. The administration has reduced the number of people eligible for forgiveness. All before an application form for debt forgiveness even exists. Many of the […]

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Republican-led States Sue to Block Biden’s Student Loan Debt Relief

WASHINGTON — Six Republican-led states took legal action Thursday to block President Biden from wiping away billions of dollars in student loan debt, even as the administration tried to avoid a court challenge by reducing the number of people eligible for relief. A lawsuit filed in federal court by Leslie Rutledge, the Republican attorney general […]

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Conservatives Found Someone Who’s Been Traumatized by Biden’s Student Debt Plan

National Review’s Andrew McCarthy, writing this time in The New York Post, denounced the order as “a naked appeal to the Democrats’ woke-progressive base, who are happy to ignore constitutional norms and turn him into a president-king,” apparently mixing up which side was responsible for January 6. He also goes on to speak up for […]

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Lawsuit Seeks to Block Biden’s Student Debt Cancellation Plan

The first legal challenge to President Biden’s plan to wipe out billions of dollars of federal student loans arrived on Tuesday, when a lawyer working for a conservative legal group filed a lawsuit seeking to block debt cancellation. “In an end-run around Congress, the administration threatens to enact a profound and transformational policy that will […]

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White House Student Loan Forgiveness Could Cost About $400 Billion

WASHINGTON — President Biden’s plan to erase significant amounts of student loan debt for tens of millions of Americans could cost about $400 billion, the nonpartisan Congressional Budget Office said in a report Monday, making it one of the costliest programs in the president’s agenda. The C.B.O. said the price tag might rise even higher […]

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Biden’s Student Loan Plan Has Issues

There’s a conundrum in President Biden’s relief plan for student loan debt. The more merciful the government is to debtors, the worse the incentives it creates. People will be more likely to borrow unwisely if they expect the government to forgive their unpayable loans. This is an old problem for governments, of course, but it’s […]

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Democrats Are Starting to Feel Hopeful About the Midterms. Should They?

But Philip Bump wrote for The Washington Post that, so far, there are no obvious signs that young people will reward Biden for the relief plan, which hasn’t yet taken effect. In approval rating polls since August, “when we look at Americans under 30 — the group with the most debt — there’s been little […]

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Student Loan Subsidies Could Have Dangerous, Unintended Side Effects

The centerpiece of the student debt-relief plan that President Biden announced last month is his decision to cancel up to $20,000 per borrower in federal loans. But the more far-reaching — and, over time, more expensive — element of the president’s strategy is his blueprint for a revamped income-linked repayment plan, which would sharply reduce […]

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Why Soaring College Prices Are So Hard to Fix

Ron Lieber contributed reporting. The Daily is made by Lisa Tobin, Rachel Quester, Lynsea Garrison, Clare Toeniskoetter, Paige Cowett, Michael Simon Johnson, Brad Fisher, Chris Wood, Jessica Cheung, Stella Tan, Alexandra Leigh Young, Lisa Chow, Eric Krupke, Marc Georges, Luke Vander Ploeg, M.J. Davis Lin, Dan Powell, Dave Shaw, Sydney Harper, Robert Jimison, Mike Benoist, […]

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Yes, the Polls May Be Wrong Again. But Democrats Have Reasons to Be Optimistic.

But there are tantalizing reasons to suspect these polling numbers aren’t a mirage—that this time, history may take a year off. One of the biggest boons that Republicans received in 2016 and 2020 was Donald Trump’s presence on the ballot: Some voters, it seems, really do only turn out to vote for their guy, a […]

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Debtors, Unite! You Have Nothing to Lose but Your Shame.

No wonder soaring student debt became a catalyst for protest, though only after borrowers began to overcome their shame. Under pressure from a growing coalition that traces its origins directly to the Occupy Wall Street movement a decade ago, Mr. Biden was forced to act — an outcome that is all the more remarkable given […]

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Could Student Loan Forgiveness Send Borrowers Without Degrees Back to School?

A car dealership employee is hoping she can return to community college with a clean slate. An operations manager is wondering whether he might be able to afford to buy a home. And a customer service representative is facing the bitter reality that she may never escape her decades-old debt. They are among the millions […]

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Student Loan Forgiveness Is Complicated, Because This Is America

If we want higher education to cost less, we should make it cheaper when people enroll. But that’s not how we do things in the United States, where the first rule of personal finance is that it should never be simple. Instead, we befuddle people with a menu of a half-dozen retirement accounts. We fetishize […]

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Beware of Scammers Trying to Capitalize on Student Loan Forgiveness

Shady callers are acting quickly on President Biden’s announcement last week to cancel up to $20,000 in federal student debt for millions of borrowers. As Americans await more details about the plan, these callers are already dialing consumers, misleadingly warning them that time is running out. The debt cancellation program is providing grist for scammers […]

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Biden’s Student Loan Plan Could Face a Protracted Legal Fight

WASHINGTON — The Biden administration’s student loan forgiveness initiative is poised to face an array of legal challenges that could freeze the plan before it gets up and running, threatening a policy that has stirred fierce bipartisan debate and infighting among Democrats. The plan announced by the White House last week would wipe out significant […]

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Biden’s Student Loan Plan Could Face a Protracted Legal Fight

WASHINGTON — The Biden administration’s student loan forgiveness initiative is poised to face an array of legal challenges that could freeze the plan before it gets up and running, threatening a policy that has stirred fierce bipartisan debate and infighting among Democrats. The plan announced by the White House last week would wipe out significant […]

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Could the Courts Block Biden’s Student Loan Relief Plan?

This article is part of the Debatable newsletter. You can sign up here to receive it on Wednesdays. Last week, President Biden announced a plan to wipe out up to $20,000 of student loan debt for tens of millions of low- and middle-income Americans, in a striking about-face for a president who just last year […]

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Democratic hopefuls steer clear of Biden student loan plan

Several Democratic candidates in tough Senate races are treading carefully when it comes to President Biden’s decision to cancel student loans for millions of borrowers, with some distancing themselves from the new White House plan that has quickly became a major campaign issue.  The long-awaited move to forgive $10,000 in federal student debt was geared […]

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