Category: fox-business/topic/student-loans

Retired Americans with student loan debt risk garnishment of Social Security benefits

Millions of older Americans at risk of defaulting on student loan payments may lose some of their Social Security benefits, Democratic lawmakers said in a letter urging President Joe Biden’s administration to act. Sens. Elizabeth Warren, D-Mass., and Ron Wyden, D-Ore., were among several lawmakers who wrote to President Joe Biden about the risk student loan borrowers aged 65 or older faced when they defaulted on…

How much will taxpayers foot for Biden’s student loan handouts? A half-trillion, UPenn’s Wharton School says

The White House announced another student loan handout on Friday, bringing the total number of borrowers who have received President Biden’s debt relief so far to 4.3 million. According to the White House, the total student loan cancellation sum is a whopping $153 billion. “Today, my Administration is canceling student debt for 277,000 more people, bringing the total number of Americans who have been approved…

Food costs soar as Biden hands out massive $7.4B for student loans

Months after the United States Supreme Court ruled President Biden’s sweeping student loan handout was illegal, he is forging ahead with another partial loan forgiveness. “Today, my Administration is canceling student debt for 277,000 more people, bringing the total number of Americans who have been approved for debt relief so far under my Administration to 4.3 million borrowers through various actions,” the White House said…

Millions of borrowers to see student loan payments drop in July after SAVE adjustment

President Joe Biden’s Saving on a Valuable Education (SAVE) plan has lowered student loan payments for 153,000 borrowers. In July, the plan is set to drop payments even more for nearly every borrower enrolled. The plan uses a borrower’s income to determine payment amounts. Until July, the formula considers 10% of a borrower’s discretionary income when calculating these monthly payments. Starting on July 1, the…