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And it kick-started probes that led the U.S. Education Department to waive about $5.8 billion in loan debt for 560,000 former students in 2022, all remaining debt for those borrowers.
Those who did not receive Pell Grants but make less than $125,000 as individuals or less than $250,000 as a married couple are eligible for $10,000 in student loan debt forgiveness.
Higher Education Act of 1965. An Act to strengthen the educational resources of our colleges and universities and to provide financial assistance for students in post-secondary and higher education. The Higher Education Act of 1965 ( HEA) ( Pub. L. 89–329) was legislation signed into United States law on November 8, 1965, as part of President ...
With the Biden administration's federal student loan forgiveness plan at risk of being struck down by the U.S. Supreme Court, many borrowers might be considering other options to reduce or ...
In 10 years, the loan program experienced 230% growth in the loan portfolio and 130% growth in the loan recipients. Student loan debt in 2019 is the highest it has ever been. According to the latest loan debt statistics, student loan debt has become the second highest consumer debt category behind mortgage debt. [15]
In 2024 the BBC estimated that around 1,8 million people in the UK are now in £50,000 or more in student debt stating upwards of 61,000 have balances of above £100,000, citing figures from the Student Loans Company (SLC) and stated another 50 people each owe upwards of £200,000. [91]
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