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A short-lived program in the early 2000s allowed married couples to consolidate their student loans for a lower interest rate. Now, with no legal way to separate the loans, some want changes.
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The loan servicing giant has agreed to cancel student loan debts owed by roughly 66,000 borrowers as part of a settlement reached with 39 state attorneys general.
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President Biden extended relief for federal student loan borrowers for an additional 90 days because borrowers are "still coping with the impacts of the pandemic." Payments now resume May 1.
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The head of the office of Federal Student Aid, Richard Cordray, spoke with lawmakers about loan forgiveness and a resumption of student loan repayments after the pandemic pause.
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On Wednesday, the U.S. Education Department said it would temporarily relax some of the program's rules. The changes could lead to loan cancellation for tens of thousands of borrowers.
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The program's confusing requirements led to crowds of frustrated borrowers being denied debt relief. The department is expected to make immediate, retroactive fixes and to simplify the overall rules.
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At the beginning of the pandemic, federal student loan borrowers were granted a reprieve on their loan payments. The U.S. Education Department says that reprieve will end on Jan. 31.
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The Biden administration is trying to figure out how much student debt to forgive and how to go about doing it — through executive action or legislation.
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Democratic lawmakers sent a letter to the director of the nation's top consumer watchdog agency demanding that the Consumer Financial Protection Bureau do its job supervising the student loan system.
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The Florida Prepaid College Board has lowered plan prices by $1.3 billion, benefiting 224,000 families and resulting in refunds of more than $500…
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The education secretary testified before the House education committee about her handling of a loan relief program for student borrowers who say they were defrauded by for-profit colleges.
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The education secretary says many students who were defrauded by for-profit colleges don't deserve full relief from their loans. Department memos show career staff arguing the opposite.