Rule to speed up student loan forgiveness for defrauded borrowers goes into effect in July

Rule to speed up student loan forgiveness for defrauded borrowers goes into effect in July

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

Biden will cement overhaul of the student loan forgiveness program for public employees

Biden will cement overhaul of the student loan forgiveness program for public employees

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

Biden forgets how student loan forgiveness happened

Biden forgets how student loan forgiveness happened

Updated October 24, 2022 at 7:03 p.m. ET President Joe Biden Photo: Drew Angerer/Getty Images President Biden’s unscripted public appearances are not that frequent, but when they do occur, they are often an adventure. Take his completely fanciful comment in an interview released over the weekend about his $426 billion student loan forgiveness plan. The … Read more

How to reap tax breaks from your HSA

How to reap tax breaks from your HSA

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

Student Loan Forgiveness is Randi Weingarten’s latest hit

Student Loan Forgiveness is Randi Weingarten’s latest hit

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

The president’s student loan forgiveness plan is headed to court

The president’s student loan forgiveness plan is headed to court

Oct. 11, 2022 at 12:58 PM ET Photo: Evan Vucci/Associated Press Since President Biden announced his student debt relief in August, several states — including an individual borrower in Indiana — have filed suit in federal court. Can their lawsuits, which claim they will be harmed by the White House’s plan, pass muster? The Wall … Read more

The student loan forgiveness bill is due

The student loan forgiveness bill is due

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

Student loan forgiveness application to require only basic data from many borrowers

Student loan forgiveness application to require only basic data from many borrowers

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

Four mistakes students and parents make when getting student loans

Four mistakes students and parents make when getting student loans

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

Endowment tax at the wealthiest universities achieved a fraction of predictions in 2021

Endowment tax at the wealthiest universities achieved a fraction of predictions in 2021

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