College debt
Retailers pare back their seasonal hiring to prepare for ho-hum holidays
Black Friday shoppers may notice longer lines and fewer retail associates in some of their favorite stores than in past holiday seasons as retailers scale back seasonal hiring over concerns about consumer spending. JCPenney is hiring 12,000 fewer workers than last year. Macy’s 3,000 fewer. Meanwhile a Walmart executive said the retail giant has been […]
Borrowers weigh personal, professional options as student loan payments resume
Justin Brown, a father of a 2-year-old who lives with his wife in the St. Louis, Missouri area, has $20,000 in student loan debt. Before the pause on loan payments at the start of the pandemic in 2020, he paid $300 a month. But now that Brown has a family, his financial responsibilities have grown […]
White House provides another $9 billion in student debt relief as pandemic pause ends
WASHINGTON — As federal student loan repayments restart, the Biden administration Wednesday announced an additional $9 billion in student loan forgiveness for 125,000 borrowers. “For years, millions of eligible borrowers were unable to access the student debt relief they qualified for, but that’s all changed thanks to President Biden and this Administration’s relentless efforts to […]
Student debt relief scams on the rise. Here’s what borrowers need to know.
Complaints about student debt relief scams are increasing as the date approaches for borrowers to restart payment on their student loans after more than a three-year pause. Consumer protection advocates say that the Biden administration’s student debt relief efforts, the subsequent halting of those policies by the courts, and the restart of student loan payments […]
Here’s what to know about new federal policies for repaying student loans
WASHINGTON — Following the Supreme Court’s summer ruling against 40 million federal student loan borrowers who would have qualified for debt relief, the Biden administration crafted a-year-long delay in repayments. The policy, known as an on-ramp, is set to begin next month. Additionally, hours after the Supreme Court’s decision, the Department of Education unveiled a […]
More than 800,000 student loan borrowers to have debt forgiven, White House announces
WASHINGTON — The Department of Education and the White House announced Friday that more than 800,000 federal student loan borrowers will have their remaining debt wiped out. The $39 billion in debt relief will come through fixes to mismanagement of the agency’s income-driven repayment plans. Many long-time borrowers, including those who had been making payments […]
Missouri company at center of student loan lawsuit didn’t want to be part of it
At the center of the U.S. Supreme Court decision striking down Joe Biden’s student loan forgiveness program on Friday was a little-known Missouri nonprofit that goes by MOHELA. Based in St. Louis, the Missouri Higher Education Loan Authority is a quasi-governmental entity created by state lawmakers in 1981 to service student loans. And when former […]
US Supreme Court rules against Biden administration student loan debt relief plan
WASHINGTON — The U.S. Supreme Court on Friday ruled that the Biden administration does not have the legal authority to enact a one-time student debt relief program, dealing a blow to the 40 million Americans who would have qualified. Last year, the Biden Administration rolled out a debt forgiveness plan for borrowers with federal student […]
University of Alabama system freezes tuition for 2023-24 in-state students
The University of Alabama system Board of Trustees will keep tuition unchanged for resident Alabama students for the 2023-24 school year. Estimated in-state tuition for University of Alabama students in the 2022-23 school year was $11,100. Out-of-state tuition is $31,460. For the University of Alabama Birmingham (UAB), estimated in-state tuition was $11,040. Out-of-state-tuition was $26,550. […]
U.S. Senate votes to block student loan relief, White House will veto
WASHINGTON — The U.S. Senate on Thursday voted to overturn the Biden administration’s one-time student debt relief plan that is on hold due to a pending Supreme Court decision. President Joe Biden has vowed to veto the resolution, but the 52-46 vote forced vulnerable Senate Democrats up for reelection in 2024 to take a public […]
Biden student debt relief plan revoked in U.S. House vote
WASHINGTON — The U.S. House on Wednesday voted to overturn the Biden administration’s one-time student debt relief plan that is currently on hold awaiting a Supreme Court decision expected within weeks. Before the 218-203 vote on the resolution, the the White House said President Joe Biden would veto it, arguing that the U.S. Department of […]
U.S. House GOP questions education secretary on transgender athletes, student loans
WASHINGTON — U.S. House Republicans on Tuesday grilled the secretary of education about student debt cancellation and protections for transgender student athletes during a lengthy hearing on the president’s proposed budget request for the Department of Education. While the subject of the five-hour House Education and the Workforce Committee hearing was the fiscal 2024 budget […]