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As of March 2024, the Biden administration has announced that over $6 billion of student loan debt will be forgiven for over 70,000 workers in the public service sector such as teachers. nurses ...
The student debt relief initiative could benefit as many as 40 million Americans, the White House said in a statement, adding that it is taking “ongoing and expanded efforts across the ...
The agency has also stressed that there is no fee to apply for student debt forgiveness. Since the student loan announcement in August and Biden's October push to clamp down on fraud, the Federal ...
So far, the adminisrtation has canceled $153 billion in student loan debt for nearly 4.3 million people, including another $7.4 billion i n forgiveness on April 12, just in time for tax day.
In 2018, the group joined the American Federation of Teachers to launch an investigation into the failure of the Public Service Loan Forgiveness program. Over the course of three years, Student Borrower Protection Center supported litigation by teachers and uncovered evidence of government mismanagement and industry abuses across the student loan system, including evidence that Public Service ...
Educational Credit Management Corporation ( ECMC) is a United States nonprofit corporation based in Minnesota. Since 1994, ECMC has operated in the areas of student loan bankruptcy management and loan collection. ECMC is one of a number of guaranty agencies that oversee student loans for the United States Department of Education.
In August, the FTC and the Department of Justice (DOJ) announced that over 22,000 borrowers will receive refunds from a $9 million settlement for the Ameritech Financial student loan debt relief ...
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]