Trina Pau Associate Reporter When the Biden administration announced its student loan forgiveness plan in August, it was an unprecedented move to help alleviate the $1.6 trillion worth of debt that borrowers hold. However, the forgiveness plan now faces multiple legal challenges and leaves borrowers wondering what will happen next. In the past two months, student loan forgiveness…
By Ayelet Sheffey Millions of student-loan borrowers are falling into default — and the newest wave is older than before. About 3.6 million federal student-loan borrowers defaulted in the past two quarters, after a pandemic-era repayment pause ended and collections began again, according to new data from the New York Federal Reserve. Researchers said the average newly-defaulted…
Shutdown affects on loans By ANNIE MAUpdated 3:57 PM EDT, October 1, 2025 ▶ Follow live updates on the federal government shutdown WASHINGTON (AP) — Already diminished by cuts by the Trump administration, the U.S. Education Department will see more of its work come to a halt due to the government shutdown. The department says many of its…
By —Collin Binkley, Associated Press WASHINGTON (AP) — President Donald Trump is ordering changes to the Public Service Loan Forgiveness program that would disqualify workers of nonprofit groups deemed to have engaged in “improper” activities. An executive order signed Friday directs the Education Department to modify the program to deny loan relief to some borrowers. It would…
Federal student loan forgiveness programs are about to undergo some of the most significant updates in decades. Starting on July 1, key programs that offer borrowers a route to discharging their student loans will fundamentally change. In some cases, borrowers could be completely cut off from any relief. The changes to student loan forgiveness programs stem in…
Tobi Opeyemi Amure May 5, 2026 For decades, the math on graduate school in America worked something like this. You borrowed what you needed, finished the degree, and out-earned the debt over a long career. Washington made that bet possible. The federal government would lend you whatever the school charged, with no credit check, no…
Aug. 24, 2022, 12:21 PM EDT By Alex Ford and Lauren Egan Biden’s expected student loan forgiveness announcement could help up to tens of millions of borrowers and wipe the slate clean for as many as 14 million. A sign calls for the cancellation of student debt at a rally at the Department of Education. Students took part…
Press Release March 27, 2026 Today, the U.S. Department of Education (the Department) began issuing guidance to all borrowers enrolled in the unlawful ‘Saving on a Valuable Education’ (SAVE) Plan, directing them to exit the plan and enter a legal federal student loan repayment plan. The guidance will be sent to the 7.5 million borrowers…
Story by Suzanne Blake A new bill introduced in Congress aims to make it significantly easier for teachers to qualify for student loan forgiveness. The Teacher Debt Relief Act, introduced by Democratic U.S. Representative Jahana Hayes of Connecticut, seeks to streamline existing forgiveness programs so teachers can access debt relief sooner without having to navigate conflicting rules….
By Richard Fry and Anthony Cilluffo Americans owe about $1.6 trillion in student loans as of June 2024 – 42% more than what they owed a decade earlier. The increase has come as greater shares of young U.S. adults go to college and as the cost of higher education increases. Here are five facts about student loans in America…
