Biden administration cancels $5.8 billion in student debt
The move will erase debt for more than 560,000 borrowers.
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The move will erase debt for more than 560,000 borrowers.
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.
"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.
He shared his plans during a 90-minute White House meeting with the Hispanic Caucus Monday.
"Democrats win when Democrats are in touch with the American people and what's happening to them," she told "Face the Nation."
As the White House mulls canceling debt, a new study from the New York Fed details how different proposals would affect borrowers.
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.
Despite their student debt, only 10% said in retrospect they would skip higher education.
The White House extended the federal student loan payment pause through August 31, but has not announced a decision about wiping out debt.
Zelenskyy addresses U.N. Security Council; Biden administration to extend student loan freeze
The pause had been slated to end May 1.
A South African judge said the former accounting student spent almost $1,000 per day for months after a clerical error dumped the cash in her account.
An analysis by the New York Fed warns student loan borrowers are likely to experience a "meaningful rise in delinquencies" once forbearance ends.
John King says urgent action is needed to help millions of Americans deal with the "crushing burden" of student debt.
Tony Henry was long saddled with student loan debt, until his wife Jayla came through with the Christmas surprise of a lifetime. The Henrys speak with “CBS Mornings” about the big surprise and what they hope to do with their newfound financial freedom.
The Department of Education announced Wednesday an overhaul on a student loan forgiveness program, which could help over half a million borrowers erase their debt. CBS News business analyst Jill Schlesinger explains who will benefit from the changes.
The Education Department has identified a total of 100,000 student loan borrowers eligible to have their debt canceled since the Biden administration made changes to the Public Service Loan Forgiveness program.
The latest round of loan forgiveness brings the total amount approved by the department to approximately $2 billion for more than 107,000 borrowers.
Multi-state settlement calls for loan servicer to cancel $1.7 billion in debt for 66,000 borrowers.
The Public Service Loan Forgiveness program was meant to erase student loan debt for borrowers who spent a decade as public servants. But the program has come up woefully short for members of the military. Lesley Stahl reports.
The Public Service Loan Forgiveness program was meant to erase student loan debt for borrowers who spent a decade as public servants. But the program has come up woefully short for members of the military. Lesley Stahl reports.
Borrowers with total and permanent disabilities can already apply for elimination of their student loan debt.
Americans will be able to defer their student loan payments through the end of January 2022.
The Iran war is nearing the three-week mark as about 2,200 more U.S. Marines and three more warships are headed toward the region, two U.S. officials say.
As Florida moves homeowners' policies out of its state-run insurer of last resort, insiders question one new company's finances.
Chuck Norris' family said his death at 86 was sudden, but did not share any other information.
The Trump administration argued that Harvard unlawfully discriminated against Jewish and Israeli students, in violation of federal civil rights law.
Former FBI Director James Comey has been subpoenaed by prosecutors in Miami as part of the Justice Department's investigation into Obama-era intelligence officials.
Police in Barcelona said the death of Jimmy Gracey, a University of Alabama student from Illinois who went missing on vacation, was likely an accident.
Advocates said the Van Nuys building looked like an example of "clustering" — a red flag for hospice fraud.
Few Americans feel they know a lot of the specifics about the SAVE Act.
The first Marine Expeditionary Unit, which is coming from the Pacific, is still making its way toward the region
The first Marine Expeditionary Unit, which is coming from the Pacific, is still making its way toward the region.
In his latest book, the New York Times bestselling author writes of a cultural crisis: an increase in anxiety and depression, concurrent with a rise in social media use, during what he terms an "Age of Emptiness."
Police in Barcelona said the death of Jimmy Gracey, a University of Alabama student from Illinois who went missing on vacation, was likely an accident.
The Trump administration argued that Harvard unlawfully discriminated against Jewish and Israeli students, in violation of federal civil rights law.
A 31-year-old Georgia woman has charged with murder by police who say she took pills to induce an abortion.
As Florida moves homeowners' policies out of its state-run insurer of last resort, insiders question one new company's finances.
The FCC announced Thursday that it had approved the $6.2 billion merger of major broadcast station owners Nexstar and Tegna.
Mortgage rates, though still well below their level a year ago, have edged up since the Iran war erupted. Here's why.
Domestic energy companies could benefit from high oil prices in the short-term, but take a hit if the Iran war drags on.
Every 1-cent increase in gasoline prices reduces consumer spending by $1.5 billion annually, one economist says.
The first Marine Expeditionary Unit, which is coming from the Pacific, is still making its way toward the region.
The Trump administration argued that Harvard unlawfully discriminated against Jewish and Israeli students, in violation of federal civil rights law.
A 31-year-old Georgia woman has charged with murder by police who say she took pills to induce an abortion.
The Justice Department says it has shuttered four websites that were allegedly used by Iranian government-linked groups to post hacked information and threaten regime critics.
The vote by the U.S. Commission of Fine Arts, whose members are supporters of the president and were appointed by him earlier this year, was without objection.
A judge blocked a set of changes to the childhood vaccine schedule recommended by allies of Health and Human Services Secretary Robert F. Kennedy, dealing a setback to the Trump administration's efforts to overhaul federal vaccine policy.
Patchwork state policies and limited federal oversight have led to a fragmented system for tracking organ donor status.
Spencer Laird was diagnosed with colon cancer at 26. At 30, he was told it had returned and spread to his lungs, with one tumor the size of a golf ball.
The Trump administration's Medicare boss reacts to CBS News investigation into California's hospice fraud problems.
Even people with six-figure incomes are making financial sacrifices to pay for medical care, a new study finds.
As the Iran war rages, Israel continues killing senior Iranian figures. CBS News asked experts how they do it.
The first Marine Expeditionary Unit, which is coming from the Pacific, is still making its way toward the region.
Mette-Marit, who is married to Crown Prince Haakon, sat down with Norwegian broadcaster NRK for a 20-minute interview on Thursday.
The Iran war is nearing the three-week mark as about 2,200 more U.S. Marines and three more warships are headed toward the region, two U.S. officials say.
Asked why the U.S. didn't inform allies ahead of the Iran strikes, President Trump said, "Who knows better about surprise than Japan?"
Chuck Norris' family said his death at 86 was sudden, but did not share any details on the cause.
"All the Empty Rooms," which follows CBS News' Steve Hartman and photographer Lou Bopp as they document the empty bedrooms of children killed in school shootings, won an Oscar for Best Documentary Short Film. Hartman and the film's director, Joshua Seftel, talk about what that moment meant to the families of the victims and having Gloria Cazares, the mother of a 9-year-old girl killed in Uvalde, deliver the acceptance speech.
Ryan Gosling and Sandra Hüller, stars of "Project Hail Mary," speak with "CBS Mornings" about the highly-anticipated movie, what it was like acting alongside the puppeteers behind alien Rocky and why Hüller chose a Harry Styles song to sing in a scene in the movie.
Unmade beds and overdue books. That's some of what CBS News correspondent Steve Hartman found in his Oscar-winning documentary "All the Empty Rooms," which looks at the bedrooms of children killed in school shootings. Hartman joins "The Takeout" to discuss the making of the film.
ABC has canceled its already filmed season of "The Bachelorette" starring Taylor Frankie Paul after video surfaced of a 2023 incident in which she was charged with assault.
Val Kilmer was originally set to star in "As Deep as the Grave" before he died last year, never shooting a scene of the movie. But Kilmer will still star in the film thanks to generative AI, which is artificial intelligence that can generate new content by analyzing existing content. Jo Ling Kent has more.
More than 80% of adults say they go online at least several times per day and research indicates that even adults' fully-formed brains can suffer negative consequences from excessive screen time. Dr. Sue Varma breaks down risks, tips to reduce your screen time and why adults are spending more time on screens.
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.
NVIDIA's GTC conference brought big crowds to Silicon Valley this week, with hundreds of companies showcasing products powered by NVIDIA's chips. Tim Werth, tech editor at Mashable, joins CBS News to discuss.
A tech entrepreneur in Australia, Paul Conyngham, said he used artificial intelligence to design a cancer vaccine for his dog Rosie. He joins CBS News with Páll Thordarson, director of the UNSW RNA Institute, who worked with Conyngham on the technology.
The song is that of a humpback whale and was recorded by scientists in March 1949 in Bermuda, researchers said.
A new study in the journal Nature says most sea level rise research may have underestimated coastal water heights by an average of 1 foot.
NASA Administrator Jared Isaacman announced significant changes to the agency's Artemis program, which aims to land on the moon in 2028.
Documents might help scientists shed light on unexplained phenomena and government secrets, experts said.
A large shark was caught on camera for the first time in Antarctica's waters, surprising researchers. "There's a general rule of thumb that you don't get sharks in Antarctica," one said.
In the summer of 2013, Minnesota resident Gary Herbst seemingly disappeared. Years later, investigators made a startling discovery. Peter Van Sant has the story for "48 Hours."
Unmade beds and overdue books. That's some of what CBS News correspondent Steve Hartman found in his Oscar-winning documentary "All the Empty Rooms," which looks at the bedrooms of children killed in school shootings. Hartman joins "The Takeout" to discuss the making of the film.
Temple Israel in West Bloomfield Township, Michigan, has shared new images of the damage from last week's attack at the synagogue. A photo has also emerged of the attacker holding an AR-style rifle. CBS News' Anna Schecter has the latest.
The man who attacked a synagogue in Michigan last week sent a photo of himself with the AR-style rifle he had during the attack to a family member in Lebanon, according to a U.S. official.
Joseph Duggar, one of the stars of the reality show "19 Kids and Counting," has been arrested and is facing child sex abuse charges. He's accused of sexually abusing a 9-year-old girl six years ago in Florida. Tom Hanson reports.
After a trip back out to the launch pad, NASA's Artemis II rocket will be readied for a historic flight to the moon.
A meteoroid was spotted streaking across the sky in 10 states. In some areas, there was also a loud boom, similar to an explosion. NASA says the meteor, which was traveling 45,000 mph in the sky, fragmented - causing the bright fireball and loud boom.
Some residents immediately feared the sound was an explosion, according to CBS affiliate WOIO, but weather service officials say it appears to have been a meteor.
Bill Nye the Science Guy sits down with CBS News chief Washington correspondent Major Garrett to talk about his life and career.
NASA's huge Space Launch System rocket has been repaired and is ready for rollout back to the launch pad next week.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Does the evidence show a cover-up, or was Todd Kendhammer wrongfully convicted for the murder of his wife?
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
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.
Dogs may be more than man's best friend. They could help scientists unlock treatments for age-related diseases. Researchers studying how dogs age hope their discoveries could lead to longer, healthier lives for both dogs and humans. 60 Minutes, Sunday.
Diesel prices are rising and the price of gas continues to slam Americans during the Iran war. Ed Hirs, an energy fellow at the University of Houston, joins CBS News with more.
UConn basketball star Azzi Fudd speaks to Jan Crawford about growing up playing basketball, her love for the game and her teammates, and overcoming multiple injuries to play again.
"All the Empty Rooms," which follows CBS News' Steve Hartman and photographer Lou Bopp as they document the empty bedrooms of children killed in school shootings, won an Oscar for Best Documentary Short Film. Hartman and the film's director, Joshua Seftel, talk about what that moment meant to the families of the victims and having Gloria Cazares, the mother of a 9-year-old girl killed in Uvalde, deliver the acceptance speech.
Iran struck a major oil refinery in Kuwait again and aimed missiles toward Israel. CBS News' Ramy Inocencio and Natalie Brand report.