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The Biden administration's latest plan on student loan debt could provide relief to up to 43 million Americans. CBS News business analyst Jill Schlesinger joins "CBS Mornings" to discuss loan forgiveness eligibility and next steps for borrowers.
President Biden said Wednesday he is taking action to cancel up to $10,000 in federal student loan debt for millions of Americans and an additional $10,000 for low-income borrowers while extending a pause on monthly payments, delivering long-awaited relief just weeks before the midterm elections. Watch his announcement.
President Biden unveiled his plan to cancel billions of dollars in student loan debt, saying it will benefit 43 million Americans earning less than $125,000 a year. Pell Grant recipients will receive up to $20,000 in relief, while other borrowers can get up to $10,000 in debt cancellation. The pause on federal loan payments will also be extended until the end of the year. Roy Paul, executive director of Cents Ability, joins CBS News to discuss the economic impact of this plan.
More than 40 million Americans may qualify, with income the main factor that determines who qualifies for relief.
The pause on student loan payments is set to expire at the end of the month.
Results of primaries in Wyoming and Alaska; Biden administration cancels $3.9B in student debt
These colleges come with a hefty price tag
The Biden administration extended the payment pause in April through August 31.
Vice President Kamala Harris announced the Biden administration will cancel all student loan debt accumulated by former students of the now defunct Corinthian Colleges. But Washington Post opinion columnist Helaine Olen says student loan forgiveness isn't enough. She joined CBS News' Tanya Rivero and Nikki Battiste to discuss.
President Biden reportedly made broad comments about considering his options in canceling student loan debt during a meeting Monday with members of the Congressional Hispanic Caucus. CBS News reporter Sarah Ewall-Wice has more on what the president said in that meeting, and the latest on the administration's efforts to forgive student debt.
Democrats are growing concerned that the president's lack of action on student loan debt could cost the party votes in the midterm elections. John King, former education secretary under President Obama and Maryland gubernatorial candidate, joined CBS News' Nikki Battiste and Tanya Rivero to speak out in favor of broad student debt cancellation.
President Biden announced his administration is extending the pause on student loan repayments until August 31. Calls are growing from students and lawmakers to cancel the debt altogether. J.W. Mason, an assistant professor of economics at John Jay College, joined Tanya Rivero to discuss.
The House is expected to pass President Biden's $1.9 trillion coronavirus relief package this week. Michigan Democratic Congressman Andy Levin joins CBSN's "Red & Blue" host Elaine Quijano to discuss why he's pushing for a minimum wage increase to be included in the final package.
More than half a million students who attended the for-profit Corinthian Colleges chain will have their federal student debt erased, the Biden administration announced.
The move will erase debt for more than 560,000 borrowers.
Many college graduates are choosing to go back to school, but some experts are questioning the value of a master's degree. James Murphy, senior policy analyst at Education Reform Now, calls it "the biggest scam of higher education." He explains to CBS News' Tanya Rivero and Tony Dokoupil why that is.
More than 43 million borrowers hold more than $1.6 trillion in federal student loan debt.
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.
Student debt has become a national crisis, with 43 million Americans carrying more than $1.7 trillion in debt. With some questioning the value of a college degree, efforts are being made to eliminate college from many corporations' job requirements, while promoting skills training for "new-collar jobs." Correspondent David Pogue talks with Wharton School of Business professor Peter Cappelli; Ken Frazier and Ginni Rometty of the OneTen Coalition; and with young people taking different approaches to higher education and the workforce.
43 million Americans now carry more than $1.7 trillion in student debt. With some questioning the value of a college degree, efforts are being made to eliminate college from many corporations' job requirements, while promoting skills training for "new-collar jobs."
The college posted a video of the commencement ceremony with the students being told, "You are debt-free."
President Joe Biden is considering options for tackling student loan debt, and while some are calling for total forgiveness, others have spoken out against such a policy. CBS MoneyWatch reporter Megan Cerullo joins "CBS News Mornings" to explain some of the concerns that are being raised.
"I'm in the process of taking a hard look at whether or not there will be additional debt forgiveness," the president said.
The pause's extension from the beginning of May to the end of August will add an estimated $20 billion to the deficit.
"Democrats win when Democrats are in touch with the American people and what's happening to them," she told "Face the Nation."
Netflix on Friday said it will acquire Warner Bros., including its film and television studios, HBO Max and HBO.
Federal prosecutors on Thursday presented an indictment of New York Attorney General Letitia James to a grand jury in Norfolk, Virginia.
Texas approved a new congressional map this summer after Trump urged state GOP lawmakers to craft new House district lines to help Republicans hold onto their majority in the 2026 midterms.
The CDC's vaccine advisory panel meets Thursday and Friday to discuss recommendations for the hepatitis B vaccine and the schedule of childhood shots.
"What I saw in that room was one of the most troubling things I've seen in my time in public service," Democratic Rep. Jim Himes said.
Luigi Mangione will be back in court Friday as a crucial court hearing about what evidence should be admitted in the trial continues.
Authorities say the FBI has arrested a man suspected of placing pipe bombs outside RNC and DNC headquarters on the eve of the Jan. 6, 2021, Capitol riot.
The seizures come as Colombian President Gustavo Petro is calling on the U.S. to end strikes in the region against apparent drug-carrying vessels.
ICE began enhanced operations in the Minneapolis-St. Paul area this week, as President Trump rails against Somali people in Minnesota.
Netflix on Friday said it will acquire Warner Bros., including its film and television studios, HBO Max and HBO.
Luigi Mangione will be back in court Friday as a crucial court hearing about what evidence should be admitted in the trial continues.
Officials have said that jaguar breeding in the U.S. has not been documented in more than a century.
A U.S. District Court decision to end the deployment of National Guard members to Washington, D.C., is now on hold.
At least 87 people have been killed since the vessel strikes began in early September.
Netflix on Friday said it will acquire Warner Bros., including its film and television studios, HBO Max and HBO.
As the White House tries to curb Moscow's energy income, Vladimir Putin enjoys a warm welcome in India, and promises an "uninterrupted supply" of Russian fuel.
Rents in the 50 largest cities have surged by hundreds of dollars per month over the last five years, a LendingTree analysis found.
Job cuts so far this year are at their highest levels since 2020, new report says.
President Trump suggested Americans won't have to pay personal income taxes "in the not-too-distant future" because of rising U.S. tariffs.
As intrigue grows over whether Texas Democratic Rep. Jasmine Crockett plans to announce a U.S. Senate campaign next week, she confirmed to CBS News she's spoken with would-be opponents.
A U.S. District Court decision to end the deployment of National Guard members to Washington, D.C., is now on hold.
Investigations released by the Navy into accidents involving the Truman Carrier Strike Group recommended ensuring processes are followed even when faced with adversity.
At least 87 people have been killed since the vessel strikes began in early September.
ICE began enhanced operations in the Minneapolis-St. Paul area this week, as President Trump rails against Somali people in Minnesota.
A clinical study into weight loss drugs for pets just launched, with results from the trial expected by next summer.
The CDC's vaccine advisory panel meets Thursday and Friday to discuss recommendations for the hepatitis B vaccine and the schedule of childhood shots.
The former officials said the FDA's plans to revamp how certain life-saving vaccines are handled would "disadvantage the people the FDA exists to protect, including millions of Americans at high risk from serious infections."
Kian Sadeghi, the 25-year-old founder and CEO at Nucleus Genomics, tells "CBS Mornings" that parents have every right to select the qualities and traits they desire in their child.
The holiday season can be a wonderful, but also stressful time – filled with unrealistic expectations. A recent poll found 41% of adults anticipate more holiday stress this year. Psychiatrist Dr. Sue Varma has tips to unwind during the holidays.
The seizures come as Colombian President Gustavo Petro is calling on the U.S. to end strikes in the region against apparent drug-carrying vessels.
As the White House tries to curb Moscow's energy income, Vladimir Putin enjoys a warm welcome in India, and promises an "uninterrupted supply" of Russian fuel.
The special edition locket was inspired by the James Bond film "Octopussy," which revolves around a plot to steal a rare Faberge egg.
Investigations released by the Navy into accidents involving the Truman Carrier Strike Group recommended ensuring processes are followed even when faced with adversity.
At least 87 people have been killed since the vessel strikes began in early September.
Netflix on Friday said it will acquire Warner Bros., including its film and television studios, HBO Max and HBO.
Lucy Liu talks about starring in and producing the movie "Rosemead," why she says the story resonates universally and reflecting on personal experiences for the film.
Steve Cropper co-wrote several classics, including "(Sittin' on) the Dock of the Bay," "Green Onions" and "In the Midnight Hour."
Grammy winning DJ and producer Kaytranada has become one of the most influential voices in dance and electronic music, and has collaborated with top artists. He spoke with "CBS Mornings" about his latest album, touring and his journey in music.
Actor and comedian Richie Moriarty talks with "CBS Mornings" about the fifth season of the comedy series "Ghosts," what's next for his character and how the cast has bonded.
Leaders in the robotics industry say that to strengthen AI, companies also need a plan for robots. The White House appears to be listening. Yasmin Khorram, economic policy reporter for Politico, joins CBS News to discuss her article on the topic.
Google has released its list of the 2025 top search trends. Robert Ferrera, a Google Trends expert, joins CBS News with more.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
India's government, amid an uproar over privacy, has revoked an order quietly issued to smartphone makers to pre-install a state-run security app.
OpenAI has declared a "code red" as Google threatens to unseat the AI industry's early leader, according to the Wall Street Journal. Technology journalist Jacob Ward joins CBS News to discuss.
Samples collected from the asteroid Bennu are continuing the shed light on the origins of the solar system and how life developed on Earth, scientists say.
Kian Sadeghi, the 25-year-old founder and CEO at Nucleus Genomics, tells "CBS Mornings" that parents have every right to select the qualities and traits they desire in their child.
Ant colonies act as one "super-organism" which works to ensure the survival of all, according to a team of scientists.
The discovery could cast some doubt on the status of Lucy's species as the direct ancestor of Homo sapiens.
Wolf DNA seems to have influenced the size, smelling power and even personality of modern dog breeds, scientists said.
The seizures come as Colombian President Gustavo Petro is calling on the U.S. to end strikes in the region against apparent drug-carrying vessels.
New evidence was presented in court in connection with the case against Luigi Mangione, the man accused of shooting UnitedHealthcare CEO Brian Thompson. CBS News' Katrina Kaufman reports.
New York Attorney General Letitia James reacted to news of a federal grand jury refusing to re-indict her after earlier fraud charges against her were thrown out. CBS News legal contributor Caroline Polisi has more.
The Pentagon announced another strike against an alleged drug-carrying boat in the eastern Pacific Ocean. This comes as lawmakers react to a classified briefing on the controversial Sept. 2 strikes targeting a vessel near Venezuela. CBS News' Nikole Killion reports.
Luigi Mangione will be back in court Friday as a crucial court hearing about what evidence should be admitted in the trial continues.
Samples collected from the asteroid Bennu are continuing the shed light on the origins of the solar system and how life developed on Earth, scientists say.
The U.S. Air Force has approved SpaceX's plan to redevelop a historic launch pad at Cape Canaveral. CBS News correspondent Mark Strassmann reports.
Solar flares and other activity can disrupt radio communications, power grids and navigation signals, according to NASA.
Researchers have documented 55 instances of "mini lightning" over two Martian years by eavesdropping on the whirling wind recorded by NASA's Perseverance rover.
The new space station crew includes American Chris Williams, who holds a Ph.D. in astronomy and is a board-certified medical physicist at Harvard Medical School.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
A retrospective look at the actor, director, producer, and founder of the Sundance Institute.
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
Frigid temperatures are expected in parts of the U.S. through the weekend. Plus, more details have emerged about the classified briefing on the controversial Sept. 2 boat strikes near Venezuela. All that and all that matters in today's Eye Opener.
The Pentagon announced another strike on an alleged drug boat in the Pacific Ocean, hours after lawmakers received a classified briefing on a Sept. 2 attack. Charlie D'Agata reports.
Republicans and Democrats in Congress received a classified briefing on the deadly Sept. 2 strikes against a vessel apparently carrying drugs toward the U.S. CBS News' Charlie D'Agata reports.
Record cold temperatures are impacting parts of the U.S. and the frigid conditions are expected to persist through the weekend. Tom Hanson has more, and Rob Marciano gives the latest forecast.
New evidence was presented in court in connection with the case against Luigi Mangione, the man accused of shooting UnitedHealthcare CEO Brian Thompson. CBS News' Katrina Kaufman reports.