Proposed changes to student loan forgiveness programs would make it easier for borrowers who already qualify to get access to relief, the Biden administration said.
The Public Service Loan Forgiveness program, which allows government and nonprofit employees to have their loans forgiven after making 120 monthly payments, will also get an overhaul.
Workers in eligible jobs must currently abide by strict rules, such as making the payment in full within 15 days of its due date. The new rules would eliminate that 15-day requirement. , borrower defense claims, PSLF, or relief after a total and permanent disability, borrowers have had to navigate narrow rules and a needlessly complicated system," James Kvaal, the Under Secretary of Education, said in a statement on Wednesday.
Activists hold signs as they attend a Student Loan Forgiveness rally on Pennsylvania Avenue and 17th street near the White House on April 27, 2022, in Washington, DC. "The regulations we’ve proposed today would remove many of those barriers and help create a federal student loan system that works better for borrowers," Kvaal added. of student loan forgiveness last month worth about $12 billion, mostly for students who attended for-profit colleges.
The president has so far resisted calls from the progressive wing of his party to cancel up to $50,000 in student loan debt for every borrower, but the Washington Post reported in May that he is considering a smaller, more targeted cancellation of student debt.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Getting student debt forgiveness could be easier under new rules proposed by Biden administration'We are committed to fixing a broken system,' Education Secretary Miguel Cardona said in a statement. 'If a borrower qualifies for student loan relief, it shouldn't take mountains of paperwork or a law degree to obtain it.'
Leer más »
President Joe Biden, First Lady Dr. Jill Biden 'shocked' by Highland Park parade shootingPresident Joe Biden began Independence Day by sharing a message that looked to the country's future, but quickly had to respond to another mass shooting in the United States.
Leer más »
Biden Administration Proposes Easing Student Loan Forgiveness Process for Defrauded StudentsThe Biden administration released a proposal that will make it easier for students who claim they were defrauded by for-profit colleges to get their federal student loans forgiven, moving to reverse Trump administration limits
Leer más »
Biden Administration Plans to Make Sweeping Changes to ‘Broken' Student Loan SystemThe Biden administration announced Wednesday it was moving to make sweeping changes to the federal student loan system, including making it easier for public servants to get debt forgiveness and setting new limits on the accrual of interest.
Leer más »
Biden administration wants to ease student-loan forgiveness for someStudents could have a clearer path to loan forgiveness and affordable repayment of their education debt under plans unveiled Wednesday by the Biden administration.
Leer más »