It Will Surprise You Who is Not Happy With Biden’s Student Loan Forgiveness Plan

President Biden promised college borrowers $10,000 in student-loan forgiveness when he was on the campaign trail. He has yet to deliver on that promise. Some progressives urge Biden to forgive more student debt. The NAACP said, “$10,000 is not enough, We’re calling on our elected officials to cancel federal student loan debt with no means-testing.” … Read more

College Enrollments are Down, Tuition Prices are Up & Student-Loan Forgiveness Is on the Way: The Wounded Grizzly Syndrome

College Enrollments are Down, Tuition Prices are Up & Student-Loan Forgiveness Is on the Way: The Wounded Grizzly Syndrome

Earlier this week, Inside Higher Education, reported that college enrollments have declined for five straight semesters. In the spring 2020 semester–when the COVID epidemic began–the nation’s colleges enrolled 17.1 million students. Today, 15.9 million Americans are in postsecondary classes–a decline of 1.2 million students. Some states saw more significant declines than others, and some saw … Read more

105 Organizations Want Biden to Cancel All Student Loan Debt: It Ain’t Happenin’

More than one hundred public interest groups sent a letter to President Biden this week urging him to cancel all student debt. How much are we talking about? Close to $2 trillion. I will say upfront that I support wholesale student-loan forgiveness. As numerous studies have pointed out, burdensome student debt has kept millions of … Read more

Politicians Want $50,000 in Student-Debt Relief: A Good Idea?

Top Democrats, led by Senators Chuck Schumer and Elizabeth Warren, are calling on President Joe Biden to forgive student-loan debt up to $50,000 per person. According to the plan’s proponents, $50,000 in debt relief would wipe out all college-loan debt for 36 million Americans. That would be an impressive achievement. Moreover, forgiving $50,000 in student … Read more

Can the President Cancel Student Loan Debt?

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On the 2020 presidential campaign trail, Joe Biden ran in part on a student loan reform platform. On top of suggesting potential changes to existing federal student loan forgiveness programs, Biden floated the possibility—both in Tweets and in campaign speeches—that he supported a proposal to forgive $10,000 in federal student loan debt. All of this … Read more

Here is Why Forgiving Student Loans is Impossible Issue With an Easy Solution

When it comes to a rapidly accelerating financial burden on American families, there is no greater concern than student loans. The debt is burdensome and unfair on many levels that I’ll explore below. However, there is a straightforward and simple solution for dealing with all of this outside of struggling to develop a fair forgiveness … Read more

Should All Student Loan Debt Be Forgiven?

Student loans are a significant issue in the United States, where consumers have more than $1.7 trillion in total student loan debt. More than two-thirds of members of the class of 2019 graduated with federal and private student loans, owing an average of nearly $30,000 per borrower. Broken down by degree levels, the debt increases. … Read more

Law Professors Propose Regulations to Help Protect Private Student Loan Borrowers

Prentiss Cox, Judith Fox, and Stacey Tutt are professors of law at various law schools. They’ve taken a look at our very broken private student loan system in America and presented some needed changes to help provide relief for consumers. Their published paper begins with: “Private student loan borrowers arguably have the fewest protections of … Read more

Is the Biden Student Loan Relief Plan Too Much or Too Little?

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This week, Joe Biden called on Congress to give all student borrowers $10,000 in debt relief on their federal student loans. “It should be done immediately,” Biden said. Senators Elizabeth Warren and Charles Schumer say Mr. Biden’s plan is not bold enough. They want him to use his executive powers to give all student borrowers … Read more

What You Need to Do to Get Your Federal Student Loans Forgiven if You Are Disabled

Question: Dear Steve, I’m medically disabled and unable to work. Sever strokes, diabetes, heart stents, high blood pressure, amputee, difficulty walking some dementia, due to the stroke, and kidney disease. How yo apply for total and permanent discharge? Alvin Answer: Dear Alvin, My goodness, you’ve faced your medical challenges. I can’t even begin to imagine … Read more

Some in Congress are Pushing for Some Student Loan Forgiveness Right Now

The HEROES Act H.R. 6800 was recently proposed in Congress that finally purposes some student loan forgiveness for federal and private loans as “a result of the COVID-19 National Emergency.” Private Student Loans The legislation states,”(A) IN GENERAL.—Effective on the date of the enactment of this section, until the end of September 2021, the Secretary … Read more

Education Department Official Resigns and Says Student Loan System is Broken

Mr. A. Wayne Johnson, the Department of Education’s “chief strategy and transformation officer,” announced his resignation this week and called for massive forgiveness of student-loan debt. Johnson, who was appointed to his DOE position by Education Secretary Betsy DeVos, proposes to forgive all federal student loan debt up to $50,000 per student. And he’s also … Read more

Who Can Help Me Get My University of Phoenix Student Loans Forgiven?

Question: Dear Steve, I was enrolled at the University of Phoenix’s master program for early childhood education. I was forced to withdraw due to my state’s DCFS daycare regulations preventing me from completing my course work, completing my degree, and working in my chosen field. I understand there was a failure to benefit clause in … Read more