INSIDER
In 2022, President Biden introduced a plan to relieve thousands of dollars in student debt for low to middle-income borrowers. However, the plan faced several challenges, and scammers have exploited this uncertainty.
President Joe Biden’s latest plan for student loan cancellation is moving forward as a proposed regulation, offering him a fresh chance to deliver on a campaign promise and energize young voters ahead of the November election.
Florida Attorney General Ashley Moody argued that it is a misuse of taxpayer funds, saying that the plan would transfer debt obligations to taxpayers.
President Joe Biden will announce a significant new plan next week to cancel federal student loan debt for new categories of borrowers.
A group of Republican-led states is suing the Biden administration to block a new student loan repayment plan that provides a faster path to cancellation and lower monthly payments for millions of borrowers.
Florida has the third-largest number of borrowers in a new federal program trying to save people money while repaying student loans.
Roughly 57,000 Florida residents paying student loans for decades are on track to walk away from those loans, provided they have been paying on time for 20 or 25 years, according to the Department of Education.
The Supreme Court is expected to announce major decisions Friday on President Joe Biden’s student loan forgiveness program and a case that impacts gay rights.
One in 5 U.S. families hold student loan debt in the U.S., according to recent data from the Federal Reserve Survey of Consumer Finances and those families are hoping that long term debt will go away very soon.
A public school teacher in Orlando was shocked when she received a bill for $1 million – 20 years after she thought she paid off her student loans, according to an article by CBS News.
President Joe Biden on Monday officially kicked off the application process for his student debt cancellation program and announced that 8 million borrowers had already applied for loan relief during the federal government’s soft launch period over the weekend.
Nearly 2.43 million people in Florida are eligible for reductions or elimination of student-loan debt under a plan announced last month by President Joe Biden, according to numbers released Tuesday by the White House.
For the millions whose entire student debt is being wiped out, the Biden administration's announcement on forgiveness means new freedom to move, start a family or keep a low-paying but fulfilling job.
President Joe Biden says many Americans will be able to have up to $10,000 in federal student loan debt forgiven in they make less than $125,000 a year.
Florida ranks No. 10 for the highest debt in federal and private student loans among borrowers, according to data from the Lending Tree.
The Biden administration plans to freeze federal student loan payments through Aug. 31, extending a moratorium that has allowed millions of Americans to postpone payments during the coronavirus pandemic.
