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Two federal programs that helped federal student loan borrowers ease back into payments are ending. It will have the biggest impact on borrowers with defaulted loans or borrowers who miss payments moving forward.
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The 8th Circuit Court of Appeals granted a motion for an administrative stay filed by a group of Republican-led states seeking to invalidate the administration's entire student loan forgiveness plan.
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The rulings from Kansas and Missouri federal judges put on hold the federal government helping many of the intended borrowers ease their loan repayment burdens starting July 1.
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President Biden announced the relief for attendees of the now-shuttered art schools, saying they "falsified data, knowingly misled students, and cheated borrowers into taking on mountains of debt."
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The sweeping new proposals, if enacted, could ease student loan debt for millions of borrowers.
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Because of past administrative failures, the some 78,000 affected public service workers such as nurses and teachers never got the relief they were entitled to under the law, Biden said.
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"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.
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Lawmakers are considering another initiative to incentivize teachers to stay in Oklahoma classrooms that would allow teachers’ children to be eligible for the state’s tuition scholarship program.
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What to make of all the student loan news this year? We have three takeaways, and a literary analogy (it's NPR afterall).
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The Education Department said today that changes to a pair of previously troubled programs have recently led to $4.8 billion in loan relief for another 80,000 borrowers.