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student debt

Banking & Finance / Education / Government & Politics

US Student Loan Debt Declines for First Time

Student loan debt in the United States posted its first-ever decline in 2023, falling to $1.73 trillion compared with $1.76 trillion in 2022, according to the Education Data Initiative, a […] read more >
Joe Biden discusses foreign policy during a presidential campaign speech in New York on Jan. 7, 2020. The president on Sept. 9, 2021 announced sweeping new COVID-19 vaccine requirements, including a mandate for employers with more 100 workers that requires them to be vaccinated or test weekly for the virus.

Some Americans Will Get Their Student Loans Canceled in February as Biden Accelerates New Plan

Republicans in Congress tried unsuccessfully to block the new repayment plan through legislation and a resolution last year. read more >

Biden Withholds $2M From Student Loan Servicers After Companies Bungled Billing Statements

The Education Department said Friday it will withhold payments from Aidvantage, EdFinancial and Nelnet for failing to meet their contractual obligations. The servicers failed to send timely statements to more than 750,000 borrowers in the first month of repayment, the agency said. read more >
Banking & Finance / Education

Biden is Trying Again on Student Loan Forgiveness. Here’s Where the Process Stands

Meanwhile, federal student loan borrowers began making payments again this month after a three-year-plus pause due to the pandemic. read more >
Banking & Finance / Education

Borrowers are Reassessing Their Budgets as Student Loan Payments Resume

On an earnings call last month, the chief financial officer of Target said that student loan payments restarting will "put additional pressure on the already-strained budgets of tens of millions of households," a sentiment echoed by the financial chiefs of Best Buy and other retailers. read more >
Banking & Finance / Education

804,000 Long-Term Borrowers are Having Their Student Loans Forgiven

It's for people in income-driven repayment plans who have been paying back loans for 20 or 25 years but who never received credit for late or partial payments. read more >
Banking & Finance / Education / Government & Politics / Legal / Small Business

Helping Workers With Student Loan Debt (Jeremiah D. Wood Commentary)

Student loan debt is a big deal in this country, and the forbearance of federal student loan repayments ends Oct. 1, with interest accruing on Sept. 1, 2023. read more >
Education / Public Companies / Retail

Retailers, Beware: Resumption of Student Loan Payments Could Lead Some Buyers to Pull Back

Though many hoped their loans might at least be lightened, the Supreme Court last week struck down a Biden administration plan that would have given millions of people some relief from the return of the loan payments. read more >
Education / Legal

Supreme Court Rejects Biden’s Plan to Wipe Away $400B in Student Loans

The court held that the administration needs Congress' endorsement before undertaking so costly a program. read more >
Education / Legal

Judge Dismisses Effort by Arkansas, Other States to Halt Student Debt Forgiveness

The Republican-led states plan to appeal the decision. read more >
Banking & Finance / Education / Legal

Federal Judge Weighs Effort to Halt Student Loan Forgiveness

Arkansas is one of six Republican-led states that sued over the plan. read more >
A Navient office building in Indianapolis 
Education / Legal / Public Companies

Navient Settles Predatory Student Loan Claims for $1.85B

The settlement includes $1.7 billion in debt cancellation and $95 million in restitution. read more >