Latest Student loans News

Settlement would forgive $6B for defrauded college students

Jun. 23, 2022 16:37 PM EDT

The Biden administration has agreed to cancel $6 billion in student loans for about 200,000 former students who say they were defrauded by their colleges, according to a proposed settlement in a Trump-era lawsuit. The agreement filed Wednesday in San Francisco federal court would...

This is how a higher Fed rate could affect your finances

Jun. 15, 2022 16:46 PM EDT

WASHINGTON (AP) — Record-low mortgages are long gone. Credit card rates will likely rise. So will the cost of an auto loan. Savers may finally see a noticeable return. The unusually large t hree-quarter point hike in its benchmark short-term rate that the Federal Reserve announced...

Debt wiped for Corinthian students as bigger decisions loom

Jun. 02, 2022 17:51 PM EDT

WASHINGTON (AP) — As college graduates wait to see whether President Joe Biden will wipe out some of their student loan debt, his administration is taking a more limited step to address a fraud scandal at Corinthian Colleges, a for-profit chain that collapsed nearly a decade ago. ...

Editorial Roundup: United States

May. 04, 2022 13:25 PM EDT

Excerpts from recent editorials in the United States and abroad: April 29 The New York Times believes the Federal Reserve should take a measured approach to addressing inflation Jerome Powell, the chair of the Federal Reserve, has often expressed...

Biden taking 'hard look' at student loan forgiveness

Apr. 28, 2022 16:29 PM EDT

WASHINGTON (AP) — President Joe Biden said Thursday that he's “taking a hard look” at canceling additional federal student loan debt and will reach a decision within a month. “I am considering dealing with some debt reduction,” Biden told reporters in the Roosevelt Room at...

Editorial Roundup: South Carolina

Apr. 14, 2022 14:30 PM EDT

Times and Democrat. April 14, 2022. Editorial: Targeting student debt relief is better House Majority Whip James E. Clyburn, the South Carolina 6th District congressman, has been a leading voice for student loan forgiveness. He and a group of Democratic lawmakers...

EXPLAINER: Biden extends student loan freeze through August

Apr. 06, 2022 17:17 PM EDT

The Biden administration on Wednesday announced that federal student loan payments will remain paused through Aug. 31, extending a freeze that began in 2020 but was set to end after this month. The action is meant to help millions of borrowers regain financial footing before they’re back on the...

White House to extend student loan pause through August

Apr. 05, 2022 14:09 PM EDT

WASHINGTON (AP) — 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, according to an administration official familiar with the White House's...