A new federal report finds that record-keeping failures may have left thousands of Americans stuck with student debt that should have been forgiven.
- Record-keeping failures by the federal government may have left thousands of Americans saddled with student debt that should have been automatically canceled through a benefit for low-income borrowers, according to a new federal study.
Investigators said they couldn’t verify why the loans hadn’t been forgiven — gaps in the Education Department’s data made it impossible to know for sure. But they suggested it could be the result of poor record-keeping. Among more than $1 trillion in student debt held by the federal government, about half is being repaid through those plans.
Under the department’s new action, borrowers in income-driven plans will get all of their past monthly payments counted toward loan forgiveness, even if they weren’t in an eligible repayment plan at the time. Borrowers who had long stretches in forbearance will also get that time counted toward forgiveness, even though it typically is excluded.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Feds: Starbucks engaged in unfair labor practices in PhoenixA Starbucks spokesperson said Saturday that the company disagreed with the labor board's accusations.
Leer más »
Feds: Starbucks engaged in unfair labor practices in PhoenixIn Phoenix, federal labor officials allege that Starbucks retaliated after it learned of employees there seeking to unionize.
Leer más »
Stimulus law update: N.J. getting $2.5M from feds to change suicide hotline number to 988.The allocation comes from President Joe Biden's $1.9 trillion stimulus law.
Leer más »
Hard Eight BBQ failed to pay employees $867K in tips and overtime, feds sayHard Eight BBQ, a family-owned and -operated North Texas restaurant, performed “illegal pay practices” and shorted 910 employees $867,572 in tips and overtime...
Leer más »
'Life is measurably better without the burden of this debt': As Biden reviews student-debt cancellation, young people with debt delay buying a house and even having kids74% of Generation Z and 68% of millennials who took on student debt delayed a major financial decision because of this debt. Those decisions include buying a home, saving for emergencies, putting money aside for retirement and having kids.
Leer más »
Canceling student loan debt 'still on the table,' White House says: What to knowPresident Biden has so far canceled just a fraction of the student loan debt that he promised to erase on the campaign trail, but the White House said this week that a broader forgiveness plan is still a possibility.
Leer más »