New rules ‘will end the bureaucratic nightmare of the past’, Education Minister Miguel Cardona said. Photo: Evan Vucci/Associated Press 31 October 2022 at 10:42 a.m. ET The Biden administration will make it easier for students defrauded by for-profit schools to get federal student loan forgiveness under new rules set to take effect July 1, establishing … Read more
The Biden administration is moving to make permanent its overhaul of a student loan forgiveness program for public employees, which allows borrowers in professions such as teaching, nursing and public interest law to get debt relief after 10 years of monthly payments. The changes to the Public Service Loan Forgiveness Program, set to take effect … Read more
Health savings accounts offer notable benefits. But the nuts and bolts of using them are often confusing. So it’s no surprise that the last tax report, which explored unusual features of HSAs, prompted a flood of reader questions. With open enrollment in health plans coming soon, many of these questions are worth further attention. First, … Read more
Updated October 12, 2022 at 18.41 ET American Federation of Teachers President Randi Weingarten Photo: Christopher Dolan/Associated Press Teachers union boss Randi Weingarten appeared in Ukraine last week, and Twitter pundit David Burge said in a retweet that “Ukrainian reading and math scores drop 40%.” Unfortunately, the head of the American Federation of Teachers is … Read more
Photo: Getty Images/iStockphoto Remember when the White House suggested just a few weeks ago that President Biden’s cancellation of student loans wouldn’t add much to the federal budget deficit this year? It turns out to be false. The Congressional Budget Office made that clear Tuesday, reporting that the write-off would cost about $426 billion and … Read more
WASHINGTON — Many borrowers will only have to provide the federal government with basic information, including their legal names, social security numbers and dates of birth, to apply for federal student loans through a new program set to launch later this month, Biden administration officials said. Borrowers must certify, under penalty of perjury, that the … Read more
With financial aid season in full swing, many families will find themselves borrowing to pay for higher education. Done strategically, it can be a sound financial decision (even apart from any loan forgiveness assistance that may come from the federal government). But debt is still debt. And many people make financial decisions about college without … Read more
Wealthy colleges argued for years that a federal tax on their capital income would limit their ability to provide financial aid — and represent a dangerous government overreach. Figures from the Internal Revenue Service show that the actual impact of such a tax has so far been minimal: Last year, 33 schools paid a total … Read more
Journal editorial report: Several states and an Indiana plaintiff launch legal challenges. Image: Michael Reynolds/Shutterstock Has the Biden Administration Almost Admitted That Its Student Loan Forgiveness Is Illegal? That’s how it looks after its move late last week to change its forgiveness scheme by limiting eligibility to about 800,000 borrowers after six states filed a … Read more
Photo: Getty Images/iStockphoto The Biden administration must know it lacks the authority to unilaterally cancel half a trillion dollars in student debt, but it may have calculated that no one could demonstrate the harm needed to bring a legal challenge. Well, maybe someone can. An Indiana borrower filed a federal lawsuit Tuesday to block the … Read more