Student Debt

President Joe Biden continues to look for a way to fulfill a campaign promise – forgiving federal student loan debt up to $10,000. Nearly 45 million borrowers owe $1.71 trillion in federal student loans.

Joe Biden has promised to tackle America’s $1.6 trillion student debt crisis, starting by extending the nearly year-long pause on federal loan payments. LX News welcomed student loan debt expert Robert Farrington of The College Investor, who says forgiveness won’t solve the problem of rising college costs and explains the reforms needed to stop the ongoing crisis.

The two crucial Georgia runoff elections in which Democrats Jon Ossoff and Raphael Warnock are looking to replace Republicans David Perdue and Kelly Loeffler will not only determine which party controls the Senate but the fate of the reforms that President-elect Joe Biden campaigned on. NBCLX’s Noah Pransky breaks down how this election will affect policy on climate change, coronavirus...

Attorney and former Democratic candidate for Congress Qasim Rashid made the case in an NBC News opinion column for why the Biden Administration should ask Congress for a bill to cancel all student debt. Rashid joined LX News to explain how canceling student loans would benefit all aspects of the economy and why our higher education system needs to be...

President-elect Joe Biden is facing mounting pressure to extend student loan debt relief or forgive thousands of indebted dollars for the millions of people who had their loan payments suspended throughout the pandemic. With payments expected to resume in the new year, action on this front could help many who are out of work or facing financial hardship. Such relief…

President-Elect Joe Biden was asked Monday if student loan debt cancellation figured into his economic recovery plan. “It does figure in my plan,” Biden said. “The legislation passed by the Democratic House calls for immediate $10,000 forgiveness of student loans… It should be done immediately.”

Do you have money to burn on your student loans? Does your debt keep you warm at night? If so, this video isn’t for you. But for the rest of us, the policies of the next president will help determine if we get a break on student loan debt or if it continues to be our country’s trillion dollar problem....

Did someone say free college? Or canceled student loans? The $1.6 trillion student debt crisis was a major flashpoint during the Democratic primary, and it’s become a big talking point for both President Trump and former VP Joe Biden as they compete for young voters. Here’s what could happen to college affordability and student loans under each candidate.

NBCLX’s Jobeth Devera broke out her red Solo Cups and revisited her favorite college drinking games to help break down how the 2020 presidential election may affect your student debt. President Trump and Joe Biden both say they want to address the $1.5 trillion student loan crisis with policies that could reduce your personal debt burden. We took a closer...

Former New York Mayor Michael Bloomberg is giving about $100 million to four historically Black medical schools over the next four years

Student loan borrowers with federal debt won’t see a bill until January 2021

Mark Kantrowitz, publisher and VP of research for Savingforcollege.com, breaks down how the student loan crisis got so out of hand and why it’s primed to get worse.

After Republicans and Democrats failed to agree on the details of another stimulus package last week, President Donald Trump signed an executive order on Saturday that gives people with student debt another three-month break from their bills, during which interest will not accrue.  As a result, more than 35 million people with federal student loans won’t have to resume their payments...

The rapid increase of student loan debt has slowed over the past few years, but individual borrower balances aren’t going down mostly because hardly anybody is paying down their loans. Total indebtedness over the past year or so has stopped its meteoric rise, according to a study that Moody’s Investors Service released Thursday. Nevertheless, the study showed a number...

A lawyer managed to get own his massive, years-old student debt thrown out in New York bankruptcy court this week, after he was able to prove the burden was so huge he could never afford to pay it. The ruling potentially has huge implications for others suffering under crushing student debt loads, as it condemns the common belief that such…

Student loans have become a defining feature of American life. It was 10 years ago that education debt eclipsed credit card debt. The next year, in 2011, it exceeded auto debt. As we enter a new decade, outstanding student debt trails only mortgages and is expected to top $2 trillion in the next couple of years. Around 43 million people in the…

The University of Phoenix for-profit college and its parent company will pay $50 million and cancel $141 million in student debt to settle allegations of deceptive advertisement brought by the Federal Trade Commission. The deal announced Tuesday settles a dispute over an ad campaign unrolled in 2012 touting partnerships with companies including Microsoft, Twitter and Adobe and suggesting the school...