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The Biden-Harris administration today announced its next step toward a round of student debt relief planned for this fall. If the plan is approved and implemented, 25 million federal student loan ...
skynesher / Getty Images. About 26 million federal student loan borrowers have applied for forgiveness under the Biden administration’s debt relief program, the White House announced on ...
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 ...
In a Sept. 29 press release, the U.S. Department of Education cited a debt relief issue paper laying out an initial set of policy considerations to “create a path to debt relief for student loan ...
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]
President Biden today wiped away an additional $9 billion in student debt. Since he took office, his administration has discharged $127 billion in student loan debt for more than 3.5 million ...
Courtesy Cornell College. More student loan borrowers have successfully received debt relief through bankruptcy after the Biden administration implemented a new policy to make the process easier ...
Student loans totaled more than $1.3 trillion, averaging $25,000 each for 40 million debtors. The debtors average age was 33. Forty percent of the debt was owed by people 40 or older. In a 2017 report by the National Center for Education Statistics, the researchers found that 27% of all student loans resulted in default within 12 years.