Student loan plan could cost $24B a year
President Biden's recently announced student loan forgiveness plan is estimated to cost $24 billion each year over the next decade, according to the White House. Christina Ruffini is there with more.
Student Loan
White House calls out GOP student debt critics who had PPP loans forgiven
Marjorie Taylor Greene said for the government to say debt is forgiven "is completely unfair." The White House tweeted back that she had more than $183,000 in PPP loans forgiven.
Here's who is eligible for Biden's student loan forgiveness plan
More than 40 million Americans may qualify, with income the main factor that determines who qualifies for relief.
Biden expected to forgive some student loans
With just a week left until student loan payments are expected to resume in September, millions of Americans may see thousands of dollars of relief coming from the White House. President Biden is expected to announce Wednesday that the government will forgive up to $10,000 in federal student loan debt for Americans making less than $125,000 a year. Chief White House correspondent Nancy Cordes reports from Washington.
Demand for Sept. 1 student loan payments sent in error
The pause on student loan payments is set to expire at the end of the month.
Education secretary says decision on student loan pause coming soon
With just days until an Aug. 31 deadline, it's still unclear if payments and interest will actually resume in September.
Federal student loan payment pause set to expire in less than a month
The Biden administration extended the payment pause in April through August 31.
Corinthian Colleges student loans canceled
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.
Lawmakers resume coronavirus aid talks
Lawmakers returned to Capitol Hill from their Thanksgiving break and renewed efforts to pass a coronavirus stimulus bill after months of stalled talks. CBS News chief congressional correspondent Nancy Cordes and Washington Post economics correspondent Heather Long join CBSN's "Red & Blue" host Elaine Quijano to discuss the narrow path to a deal before key programs expire at the end of December.
Getting student debt forgiveness could be easier under proposed rules
Borrowers who qualify for existing federal student loan forgiveness programs could see fewer hurdles and less paperwork.
Biden administration cancels $5.8 billion in student debt
The move will erase debt for more than 560,000 borrowers.
As midterms near, debate over student loan forgiveness heats up
More than 43 million borrowers hold more than $1.6 trillion in federal student loan debt.
It's about to get more expensive to take out federal student loans
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.
Biden says he's considering forgiving student debt, but not $50,000
"I'm in the process of taking a hard look at whether or not there will be additional debt forgiveness," the president said.
Republicans target pause on student loan payments
The pause's extension from the beginning of May to the end of August will add an estimated $20 billion to the deficit.
Biden looks at forgiving some fed student loan debt, says Hispanic Caucus
He shared his plans during a 90-minute White House meeting with the Hispanic Caucus Monday.
Warren urges Biden to cancel student loan debt ahead of midterms
"Democrats win when Democrats are in touch with the American people and what's happening to them," she told "Face the Nation."
Study shows who would benefit most from different forms of student loan relief
As the White House mulls canceling debt, a new study from the New York Fed details how different proposals would affect borrowers.
Student loan program changes could bring millions closer to getting out of debt
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.
Millennials, Gen Z put off major financial decisions because of student loans, study finds
Despite their student debt, only 10% said in retrospect they would skip higher education.
Canceling student loan debt "still on the table" for Biden administration
The White House extended the federal student loan payment pause through August 31, but has not announced a decision about wiping out debt.
4/5: Red and Blue
Zelenskyy addresses U.N. Security Council; Biden administration to extend student loan freeze
White House extends student loan repayment pause through August 31
The pause had been slated to end May 1.
Student jailed for spending almost $1M in student aid on luxury goods
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.
Borrowers waiting as May 1 student loan payment restart approaches
An analysis by the New York Fed warns student loan borrowers are likely to experience a "meaningful rise in delinquencies" once forbearance ends.
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