Don't start student-loan repayments next month, government says
The Biden administration had earlier extended a repayment pause while its student-debt relief program remains tied up in court.
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The Biden administration had earlier extended a repayment pause while its student-debt relief program remains tied up in court.
A Biden administration program forgiving up to $20,000 in student loans remains hung up in court.
A second federal appeals court has rejected the Biden administration's attempt to allow debt relief to continue while courts rule on it.
The woman worried she could lose everything — but a stranger from the internet offered to help.
U.S. has told millions of people with student loans that their applications for relief were approved — but there's a hitch.
With the possibility of getting up to $20K forgiven tied up in the courts, experts list some steps borrowers can take.
The Department of Education's website now informs borrowers: "Student loan debt relief is blocked."
With Biden's ambitious program now in limbo, borrowers should prepare to repay their loans starting in January, experts warn.
The head of the Education Department pledged Saturday to keep "moving full speed ahead" on plans to implement President Joe Biden's student debt relief program, coming a day after a federal appeals court put a temporary hold on it, barring the administration from canceling loans covered under the policy while it's under review.
Education Department is offering more details about its "short and simple" form to get up to $20,000 in debt wiped away.
Forecast from Congressional Budget Office estimates extending repayment pause will cost another $20 billion.
The application could be ready in early October and millions will be jockeying to get their loans relieved quickly.
Most of the benefit of erasing college loans would go to households earning below $88,000, new analysis finds.
There has been mixed reaction to the president's announcement on student loan forgiveness.
More than 40 million Americans may qualify, with income the main factor that determines who qualifies for relief.
White House officials have been weighing -- and leaning toward -- the cancellation of up to $10,000 in student loan debt per borrower tied to an income threshold, CNN has learned.
