Student loan cancellation update as Biden approves $1.2 billion relief

Student loan cancellation update as Biden approves .2 billion relief

President Joe Biden on Wednesday announced that $1.2 billion dollars in student debt will be canceled for borrowers enrolled in a new repayment plan. The almost 153,000 borrowers receiving relief are the first to benefit from the Saving on a Valuable Education, or SAVE, plan policy that provides debt forgiveness to those who have been … Read more

Student loan cancellation update: borrowers have just weeks to apply

Student loan cancellation update: borrowers have just weeks to apply

Federal borrowers have just weeks remaining to apply for a loan consolidation that could give them student debt relief. The Department of Education plans to complete all account adjustments for student loan borrowers by July 1, but an earlier deadline will determine if many end up receiving student loan relief. According to President Joe Biden‘s … Read more

Student loan debt is crippling retirement savings

Student loan debt is crippling retirement savings

Student loan debts are having a “tremendous” impact on the amount of money Americans can save for retirement, according to the results of a new study. A three year study conducted by the Employee Benefit Research Institute (EBRI) and JP Morgan Asset Management has found that having student loan debts has a “statistically significant negative … Read more