Borrowers have until April 30 to consolidate their loans via the Direct Loan Program to benefit from the one-time adjustment.
The Consumer Financial Protection Bureau is urging eligible borrowers to take advantage of the opportunity to have their entire student-loan debt canceled before April 30, when the option will no longer be available.The Biden White House, which has made fixing historical failures in the administration of student loans one of its goals, announced in April 2022 a one-time account adjustment for longtime borrowers that would require the U.S.
Department of Education wrote that since summer 2023, it had approved 'almost $44 billion in debt relief for more than 900,000 borrowers as part of the payment count adjustment.'The department estimated that the Biden administration had until then brought overall forgiveness to $132 billion for over 3.6 million borrowers. According to an update from the White House published February 21, the Biden administration has now canceled almost $138 billion in student debt for almost 3.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Indonesia’s Finance Regulator Issues New Crypto Regulation to Strengthen IndustryShenna Peter is a Senior Editor at CoinDesk Indonesia.
Read more »
Private student loan interest rates fall for 5- and 10-year loansThe latest private student loan interest rates from the Credible marketplace, updated weekly.
Read more »
Will I face a 'tax bomb' on student loan forgiveness?Student loan forgiveness could have some tax consequences down the line. Experts say there are several situations that can lead to a “student loan tax bomb.”
Read more »
Biden to cancel $1.2 billion in first wave of early student-loan forgivenessAnnouncement comes as the White House is in the midst of revamping its broad debt relief plan
Read more »
150,000 more student loan borrowers to receive debt relief beginning WednesdayThe impacted borrowers are people enrolled in the SAVE Plan.
Read more »
Student loan balances wiped for the first batch of borrowers in Biden's SAVE plan'It's moral hazard if you're only doing debt relief, but I believe we're balancing it out with accountability on colleges,' says Education Secretary Miguel Cardona.
Read more »