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President Joe Biden is determined to provide debt forgiveness to federal student loan borrowers, despite more than a year of having his plans challenged and shot down in the courts.The ...
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service. [ 1]
It was created in 1963 by an Act of the Pennsylvania General Assembly, and engages in loan guaranty, loan servicing, financial aid processing, outreach and other student aid programs. It was announced on July 8, 2021 that the agency and the United States Department of Education would not continue their relationship, effective on December 14, 2021.
If the plan holds, the government will write down the student loan balances for the majority of Americans who hold them by $5,000 to $20,000. For some, that will entail the full amount of their loans.
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 has attempted to find alternatives to reduce student loan debt to fulfill a campaign promise after an initial plan to relieve up to $20,000 in student loans for millions ...
Biden v. Nebraska, 600 U.S. 477 (2023), was a United States Supreme Court case related to the forgiveness of federal student loans by the Biden administration in 2022, challenged by multiple states. The Supreme Court's ruling was issued on June 30, 2023, ruling 6–3 that the Secretary of Education did not have the power to waive student loans ...
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 ...