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March 21, 2024 at 2:55 PM. President Biden announced another sweeping federal student loan forgiveness policy, wiping out $5.8 billion in debt for 77,700 borrowers. However, only certain borrowers ...
To date, the Biden administration has forgiven $168.5 billion in student loan debt for 4.76 million borrowers. In addition to the $69.2 billion received by 946,000 PSLF borrowers, 1,414,000 ...
The Higher Education Relief Opportunities For Students (HEROES) Act ( Pub. L. 108–76 (text) (PDF)) was legislation passed unanimously by the United States Congress and signed into law by President George W. Bush on January 16, 2002. It was extended and amended in 2003, extended in 2005, and made permanent in 2007.
The Biden administration discharged another $4.9 billion in student loan debt for more than 73,600 borrowers, the Education Department announced. That brings the total amount discharged since ...
The William D. Ford Federal Direct Loan Program (also called FDLP, FDSLP, and Direct Loan Program) provides "low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education ... rather than a bank or other financial institution." [ 1]
In March 2024, the Biden administration announced that it would forgive $5.8 billion in student loan debt to 78,000 borrowers under the PSLF program, [128] and then an additional $7.4 billion in student loan debt for 277,000 borrowers from additional changes to the PSLF program the next month, which brought the total dollar amount of student ...
The new strategy comes months after the U.S. Supreme Court struck down an ambitious earlier White House plan that would have provided up to $20,000 in loan forgiveness per borrower. That plan ...
The US first major government loan program was the Student Loan Marketing Association (Sallie Mae), formed in 1973. [20] [clarification needed] Before 2010, federal loans included: loans originated and funded directly by the Department of Education (ED) government guaranteed loans originated and funded by private investors.