Student loan defaults surging in wake of COVID-tied payments pause expiration
Defaults on student loans have surged across the United States, reaching record levels as borrowers struggle to keep up with payments.
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Defaults on student loans have surged across the United States, reaching record levels as borrowers struggle to keep up with payments.
Loan revamp affects how much students and families can borrow to pay for college, as well as their repayment options.
The Department of Education doesn't oversee school curriculums, but it does offer a range of services affecting millions of Americans.
Student loan payments for people enrolled in the Biden administration's SAVE plan will remain on hold for at least six more months.
About 1 in 10 people with student loans have gotten debt relief, according to the Biden administration.
As student loan repayments restart in October, the Biden administration said 125,000 people with student loans will have their debt erased.
After a three-year hiatus, interest on student loans begins piling up again on Friday, with payments due in October.
"We'll use every tool at our disposal to get you the student debt relief you need to reach your dreams," President Biden said.
The extension, up to June 30, 2023, will give the courts time to decide the fate of student loan cancellation.
This comes after the plan has been blocked by two separate federal court rulings.
In their appeal, attorneys for several Republican-led states said the plan will irreparably harm their states' student loan programs.
On Monday, the federal government officially launched its student loan forgiveness program. CBSLA's Joy Benedict speaks to those who have already signed up.
President Biden announces new college-debt forgiveness site, calling it a "game changer for millions of Americans."
Teachers and other public servants need to apply soon to ensure they are considered for a one-time waiver.
In partnership with California Attorney General Rob Bonta, the Campaign for California Borrowers' Rights on Monday launched a "California Student Debt Challenge," a statewide informational campaign on student loan forgiveness.
Interest rates will be 4.99% for undergraduate loans, 6.54% for graduate loans and 7.54% for PLUS loans for the 2022-2023 year.
A review found some servicers had been placing borrowers facing financial difficulties into forbearance instead of giving them clear information about income-driven repayment options.
Nearly 35,000 California students who attended Santa-Ana based Corinthian Colleges will not have to repay any the remaining balance of their private student loan debt.
The plan would cover not just tuition but also living expenses.
The Ojai Raptor Center said individuals are selling merchandise featuring Big Bear's bald eagle, Jackie, claiming that it will benefit the wildlife rescue facility.
Michael Douglas Brambles was originally sentenced to 102 years in prison for the crimes, leading Ventura County officials to dismiss their case regarding victim S.W., assuming he would never be released.
The declaration allows the city to remove homeless encampments in Very High Fire Hazard Severity Zones within one day. During normal conditions, state law requires a more extensive notice process, according to the City of Malibu.
The veterinarian said dogs overheat much more easily than humans and since they don't sweat, they cool themselves down by panting.
The Justice Department alleges that the prisons violated the U.S. Constitution by denying prisoners their rights under the Eighth and Fourteenth Amendments.
The Ojai Raptor Center said individuals are selling merchandise featuring Big Bear's bald eagle, Jackie, claiming that it will benefit the wildlife rescue facility.
Michael Douglas Brambles was originally sentenced to 102 years in prison for the crimes, leading Ventura County officials to dismiss their case regarding victim S.W., assuming he would never be released.
Several eagles have been spotted at Jackie's Big Bear nest and now the public has to wait and see if someone takes it over.
The declaration allows the city to remove homeless encampments in Very High Fire Hazard Severity Zones within one day. During normal conditions, state law requires a more extensive notice process, according to the City of Malibu.
The veterinarian said dogs overheat much more easily than humans and since they don't sweat, they cool themselves down by panting.
The Ojai Raptor Center said individuals are selling merchandise featuring Big Bear's bald eagle, Jackie, claiming that it will benefit the wildlife rescue facility.
Michael Douglas Brambles was originally sentenced to 102 years in prison for the crimes, leading Ventura County officials to dismiss their case regarding victim S.W., assuming he would never be released.
The declaration allows the city to remove homeless encampments in Very High Fire Hazard Severity Zones within one day. During normal conditions, state law requires a more extensive notice process, according to the City of Malibu.
The veterinarian said dogs overheat much more easily than humans and since they don't sweat, they cool themselves down by panting.
The Justice Department alleges that the prisons violated the U.S. Constitution by denying prisoners their rights under the Eighth and Fourteenth Amendments.
Police said that the couple was involved in some sort of altercation when the incident occurred.
A suspect caused a lockdown at the public defender building in Westminster.
Police said that a person inside the building was hospitalized after suffering injuries in the collision.
According to Santa Ana Police Department officers, the collision happened at around 6 p.m. near the intersection of N. Santiago Street and Santa Ana Boulevard.
The $14.5 million Jeffrey Open Space Trail Bicycle and Pedestrian Bridge is almost 1,200 feet long and 15 feet wide, spanning the I-5 Freeway.
The Ojai Raptor Center said individuals are selling merchandise featuring Big Bear's bald eagle, Jackie, claiming that it will benefit the wildlife rescue facility.
California Highway Patrol officers said that it appeared the body had been in the area for a few days.
Six people were arrested and nearly $200,000 in stolen goods were recovered during a series of operations conducted by the Los Angeles County Sheriff's Department's Retail Crime Task Force last week.
Body cameras captured the moments Rialto police officers rushed to save a choking child with a LifeVac tool.
After more than 50 years, the victim of a cold case homicide investigation whose body was found in the remote Riverside County desert has finally been identified.
Certain salsas, guacamole, pico de gallo and prepared jalapeño products at Whole Foods are among the products recalled over possible salmonella risk.
President Trump said Karoline Leavitt will be leaving her role to focus on her young family.
Surrogate McKenna West declined to get an abortion requested by the intended parents after the baby she was carrying was diagnosed with a severe but treatable heart defect.
A single ticket sold in Illinois won the biggest Powerball jackpot of the year, $1.04 billion, in Wednesday night's drawing, the game says.
U.S. Immigration and Customs Enforcement officers may soon be outfitted with gloves that can deliver painful electric shocks that are intended to gain compliance from combative individuals.
The current law leaves it to California school districts and charter schools to roll out their own policies on how they want to restrict or ban smartphones. But there's growing momentum to go a step further.
A California bill, known as Leno's Law, aimed at easing smog-check requirements for older collector cars is advancing through the legislature. The measure would expand the state's existing exemption for certain older vehicles from the state's smog requirements.
President Trump said Karoline Leavitt will be leaving her role to focus on her young family.
President Trump said Wednesday that the U.S. has "total control" over the Strait of Hormuz, writing on social media: "I THINK WE WILL KEEP IT."
U.S. Immigration and Customs Enforcement officers may soon be outfitted with gloves that can deliver painful electric shocks that are intended to gain compliance from combative individuals.
Homeowners getting their insurance through the California FAIR Plan will soon be paying even more, but industry observers say it may be a good sign for the state's insurance market.
Voters in California may soon decide on a ballot measure that seeks to help the state's middle class afford to buy a home, by establishing a $25 billion loan program that would provide down payment assistance.
Some Trader Joe's shoppers will get a payout after a lawsuit alleged that the retailer's customer receipts put shoppers at risk of ID theft.
California Attorney General Rob Bonta and local prosecutors urged parents to check their children's e-bikes, saying some of the vehicles may be motorcycles or mopeds capable of high speeds.
San Francisco officials said Tuesday that the city has filed a lawsuit against leading manufacturers of ultra-processed foods, accusing them of producing products linked to serious health issues and alleging that the companies knowingly made the foods addictive.
The Social Security Administration is expanding its list of diseases and other health conditions that may qualify for accelerated approval of disability benefits.
In a wide-ranging interview with the CBS News partner BBC News, Hunter Biden grew emotional as he discussed his father's condition, describing it as very sad to watch.
Orange County Health Care Agency officials have confirmed the county's first human West Nile virus case of 2026, amid what some medical experts believe could be one of the worst mosquito seasons on record.
Taylor Farms said none of its branded salads or kits contain the iceberg lettuce associated with the outbreak.
A lettuce supplier to fast-food giant Taco Bell has been linked to a nationwide cyclosporiasis outbreak that has sickened thousands of people, the CDC said.
A California lawmaker wants to address the rising cost of event tickets by limiting how much some tickets can be marked up on the resale market.
California Gov. Gavin Newsom on Friday announced the rollout of the state's new electric vehicle instant rebate program, touting it as part of an investment in the state's clean-vehicle future.
Initial findings showed no evidence of rising statewide unemployment claims from workers in occupations considered highly exposed to AI.
Ford is recalling more than 250,000 vehicles that were incorrectly repaired under a previous recall meant to fix a problem that caused the engine to stall while driving, according to the National Highway Traffic and Safety Administration.
The California State Assembly passed a new bill that they hope can rein in a black market in restaurant reservations.
Mike Trout had three hits and two RBIs, Jose Siri keyed a three-run sixth inning with a pinch-hit RBI double, and George Klassen earned his first major league win in the Los Angeles Angels' 5-2 comeback victory over the Texas Rangers.
Shohei Ohtani, Mookie Betts and Hunter Feduccia homered, and the revitalized Los Angeles Dodgers swept the Kansas City Royals with a 4-2 victory.
Westbrook played for Oklahoma City, Houston, Washington, both Los Angeles teams, Denver and Sacramento during his 18-year-career.
The deal comes less than 1 year after Mark Walter purchased a majority stake from the Buss family for about $10 billion.
Max Muncy singled in Shohei Ohtani, lifting the Los Angeles Dodgers over the Kansas City Royals 5-4 in 10 innings.
California Gov. Gavin Newsom on Monday announced that nine new television productions would be awarded through the state's film and television tax credit program, which his office estimates will bring over $600 million in production spending.
A California lawmaker wants to address the rising cost of event tickets by limiting how much some tickets can be marked up on the resale market.
Some parts of the LA Jazz Festival were canceled just days before the citywide, two-week party was slated to begin, leaving performers and fans alike in the dark.
A performer will be living inside a billboard 30 feet above the Sunset Strip as Netflix promotes its new film "The Last House."
The Bob Baker Marionette Theater is releasing its first new show in four decades as the iconic team works to raise money and purchase its permanent home in Highland Park.
Global Group JO1 joins CBS LA Mornings to discuss their upcoming performance at KCON and their new album.
Saddie Murray, the Go-To Girlfriend, shares items to help you stay cool during the hot summer.
Meteorologist Alex Biston takes a visit to Hermosa Beach, where a group of women meets every week and roller skates on the Strand. The South Bay Roller Skating Group does more than just skate; they focus on women’s empowerment.
Sports journalist Arash Markazi joins CBS LA Mornings to talk about the Lakers' recent $12.5 billion sale and what it means for the team.
Attorney Rachel Fiset discussed Nick Reiner’s indictment on murder charges in the killings of his parents, Rob and Michele Reiner.
Some of golf's best are facing off at the U.S. Women's Open at the Riviera Country Club in the Pacific Palisades over the weekend. The event runs from June 2 to June 7.
Widely considered the greatest architect of his time, Frank Gehry helped shape Los Angeles' skyline.
A suspect was taken into custody after an attack on Pearl Street Mall in Boulder on June 1 in which there were 15 people and a dog who were victims. The suspect threw Molotov cocktails that burned some of the victims, who were part of a march for Israeli hostages.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
The Franklin Fire in Malibu quickly grew overnight and threatened several homes. Evacuation orders were issued and Pepperdine University instructed students to shelter in place.
