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The U.S. Department of Education on Tuesday announced upcoming changes that will result in immediate debt cancellation for at least 40,000 federal student loan borrowers and move an additional 3.6...
So it was good news for potential borrowers when the Federal Student Aid Office announced upcoming changes to the form last year. For 2022, however, those changes appear to be mostly cosmetic.
More student loan borrows have successfully received debt relief through bankruptcy after the Biden administration made a policy change to make the process easier nearly two years ago, according ...
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]
As of May 2024, The Biden-Harris Administration has provided $153 billion in debt relief to nearly 4.3 million student loan borrowers. In the summer of 2023, the Supreme Court ruled to strike down ...
In the United States, student loans are a form of financial aid intended to help students access higher education. In 2018, 70 percent of higher education graduates had used loans to cover some or all of their expenses. [ 1] With notable exceptions, student loans must be repaid, in contrast to other forms of financial aid such as scholarships ...
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