* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, June 4, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Author Richard Russo Will Speak At Sandwich Town Hall – CapeNews.net

    Join Us for an Inspiring Evening with Author Richard Russo at Sandwich Town Hall!

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Salem’s Harborwalk Garden Cultivates Community with Entertainment, Food, and Events – 105.7 WROR

    Discover the Vibrant Community Spirit at Salem’s Harborwalk Garden: A Hub for Entertainment, Food, and Fun!

    Entertainment-Focused Narrative and Culture Change Practice – New America

    Transforming Culture Through Engaging Entertainment Narratives

    Rising stars: Young classical musicians surging on social media – Yahoo

    Meet the Next Generation of Classical Music Sensations Making Waves on Social Media!

    Devin Harjes Dies: ‘Manifest’ & ‘Boardwalk Empire’ Actor Was 41 – WyomingNews.com

    Tragic Loss: Devin Harjes, Star of ‘Manifest’ and ‘Boardwalk Empire,’ Passes Away at 41

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    AI for lawyers: Win back your time using technology – nationaljurist.com

    Reclaim Your Time: How AI is Transforming the Legal Profession

    Prosecutors accuse men of exporting U.S. military technology to China – Milwaukee Journal Sentinel

    Men Charged with Illegally Exporting U.S. Military Technology to China

    ROLAND’S NEW WIRELESS TRIGGER TECHNOLOGY, PORTER & DAVIES ON TOUR, NEW 64 AUDIO ASPIRE UNIVERSAL IEM MODELS, WAVES FREE PLUGIN PACK – Modern Drummer Magazine

    ROLAND’S NEW WIRELESS TRIGGER TECHNOLOGY, PORTER & DAVIES ON TOUR, NEW 64 AUDIO ASPIRE UNIVERSAL IEM MODELS, WAVES FREE PLUGIN PACK – Modern Drummer Magazine

    This giant microwave may change the future of war – MIT Technology Review

    Revolutionizing Warfare: The Impact of a Game-Changing Giant Microwave

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Author Richard Russo Will Speak At Sandwich Town Hall – CapeNews.net

    Join Us for an Inspiring Evening with Author Richard Russo at Sandwich Town Hall!

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Salem’s Harborwalk Garden Cultivates Community with Entertainment, Food, and Events – 105.7 WROR

    Discover the Vibrant Community Spirit at Salem’s Harborwalk Garden: A Hub for Entertainment, Food, and Fun!

    Entertainment-Focused Narrative and Culture Change Practice – New America

    Transforming Culture Through Engaging Entertainment Narratives

    Rising stars: Young classical musicians surging on social media – Yahoo

    Meet the Next Generation of Classical Music Sensations Making Waves on Social Media!

    Devin Harjes Dies: ‘Manifest’ & ‘Boardwalk Empire’ Actor Was 41 – WyomingNews.com

    Tragic Loss: Devin Harjes, Star of ‘Manifest’ and ‘Boardwalk Empire,’ Passes Away at 41

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    AI for lawyers: Win back your time using technology – nationaljurist.com

    Reclaim Your Time: How AI is Transforming the Legal Profession

    Prosecutors accuse men of exporting U.S. military technology to China – Milwaukee Journal Sentinel

    Men Charged with Illegally Exporting U.S. Military Technology to China

    ROLAND’S NEW WIRELESS TRIGGER TECHNOLOGY, PORTER & DAVIES ON TOUR, NEW 64 AUDIO ASPIRE UNIVERSAL IEM MODELS, WAVES FREE PLUGIN PACK – Modern Drummer Magazine

    ROLAND’S NEW WIRELESS TRIGGER TECHNOLOGY, PORTER & DAVIES ON TOUR, NEW 64 AUDIO ASPIRE UNIVERSAL IEM MODELS, WAVES FREE PLUGIN PACK – Modern Drummer Magazine

    This giant microwave may change the future of war – MIT Technology Review

    Revolutionizing Warfare: The Impact of a Game-Changing Giant Microwave

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Student-loan borrowers who took on small debts and have paid for 10 years could have their loans canceled in February 

January 12, 2024
in Business
Student-loan borrowers who took on small debts and have paid for 10 years could have their loans canceled in February 
Share on FacebookShare on Twitter

Student-loan borrowers who took out relatively small amounts to attend college and have been paying their debt for at least 10 years could have their loans forgiven as soon as February — as long as they’re on the Biden administration’s new repayment plan, officials announced Friday. 

Under the SAVE plan, which the Department of Education launched earlier this year, borrowers who took on $12,000 or less in loans are eligible to have their debt canceled after at least 10 years of payments. Originally, that benefit wasn’t supposed to be available until July, but on Friday, the department said it would start implementing the initiative in February. 

Officials didn’t say how many borrowers it would impact, but said they would be identifying the beneficiaries over the next few weeks. Borrowers who took out $12,000 or less, have been in repayment for at least 10 years and who are already enrolled in SAVE won’t have to take any action to receive the relief. The Education Department is also embarking on an outreach and email campaign to encourage borrowers to sign up and potentially take advantage of shortened timeline to forgiveness. 

“This action will particularly help community-college borrowers, low-income borrowers, and those struggling to repay their loans,” President Joe Biden said in a statement announcing the initiative. “And, it’s part of our ongoing efforts to act as quickly as possible to give more borrowers breathing room so they can get out from under the burden of student-loan debt, move on with their lives and pursue their dreams.”

The return to repayment is proving complicated

Friday’s announcement comes as borrowers and the government report long call-wait times, missing or inaccurate bills and other challenges complicating the return of student-loan payments after a more than three-year pause. 

Some of these issues have the potential to pose obstacles to borrowers receiving the relief announced Friday. As of October, more than 450,000 applications for income-driven repayment plans, including SAVE, were still pending with a borrower’s servicer for more than 30 days. A senior Education Department official told reporters on a conference call that the backlog had receded since October. 

“I don’t have a number to share with you, but it is a smaller number than what was reported at the time of the CFPB report,” the official said. 

So far, about 6.9 million borrowers have successfully enrolled in SAVE, the Education Department said Friday. The bulk of those borrowers were automatically transferred from a different repayment plan. 

Under SAVE, borrowers pay their debt as a percentage of income and typically have the remainder canceled after 20 or 25 years of payments. SAVE is the latest version of income-driven repayment which has been around for years, but it includes new benefits. 

Borrowers were able to access some of the new features last year. For example, the interest that a borrower’s monthly payment doesn’t cover is wiped out and the plan protects more of a borrower’s income before payments kick in. Of those enrolled in SAVE so far, roughly 3.9 million qualify for a $0 monthly payment, the Education Department said.  

Other benefits of the plan are scheduled to kick in later this year. Originally the shortened timeline to forgiveness for some borrowers was supposed to take effect in July, but the Education Department is launching the benefit early, officials said. 

By focusing on borrowers with relatively low balances, the agency is aiming to target a benefit to a group who is disproportionately likely to struggle with student debt, officials said. Often the low balance can be a sign that a borrower didn’t complete their degree or earned a credential with relatively little value in the labor market.  

In addition, providing loan relief to those who took out $12,000 will wipe away the debt of 85% of future community-college borrowers within 10 years, the Education Department said. 

Friday’s announcement is separate from other forgiveness efforts the Biden administration has previously touted. So far, the Department of Education has approved $132 billion in debt cancellation for more than 3.6 million borrowers. Those include borrowers who have been paying their loans for at least 20 years, some public servants and borrowers who have been scammed by their schools. 

In addition, the Biden administration is in the process of revamping its broad-based debt-relief proposal after the Supreme Court struck down its initial plan to cancel up to $20,000 of student debt for a wide swath of borrowers in June. 

The new debt-forgiveness initiative isn’t finalized, but Biden administration officials have indicated it would focus on certain groups of borrowers, including those who have been paying for a long time and those who owe more than they borrowed. 

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : MarketWatch – https://www.marketwatch.com/story/student-loan-borrowers-who-took-on-small-debts-and-have-paid-for-10-years-could-have-their-loans-canceled-in-february-0231614c?mod=mw_rss_topstories

Tags: borrowersbusinessStudent-Loan
Previous Post

WTI soars to near $74.50 as supply concerns deepen after US airstrikes on Houthi group

Next Post

Burberry shares drop as sluggish Christmas sales drive second profit warning in three months

Collective dynamical regimes predict invasion success and impacts in microbial communities – Nature

Collective dynamical regimes predict invasion success and impacts in microbial communities – Nature

June 4, 2025
John Brenkus, ‘Sport Science’ Host, Died By Suicide, Medical Examiner Says – TMZ

Tragic Loss: ‘Sport Science’ Host John Brenkus Passes Away in Heartbreaking Circumstances

June 4, 2025
Meghan to take a break from As ever as she announces next step for those ‘wondering and waiting’ – Nine – Honey

Meghan to take a break from As ever as she announces next step for those ‘wondering and waiting’ – Nine – Honey

June 4, 2025
Aeternum Update 1.3.27 – newworld.com

Exciting New Features and Enhancements in Aeternum Update 1.3.27!

June 4, 2025
Larry Kudlow: Liberal media has been ‘completely wrong’ on the Trump economy – Fox Business

Larry Kudlow: Liberal media has been ‘completely wrong’ on the Trump economy – Fox Business

June 4, 2025
Author Richard Russo Will Speak At Sandwich Town Hall – CapeNews.net

Join Us for an Inspiring Evening with Author Richard Russo at Sandwich Town Hall!

June 4, 2025
Hochul, Jeffries raise concerns over possible impacts of One Big Beautiful Bill Act – Spectrum News

Hochul, Jeffries raise concerns over possible impacts of One Big Beautiful Bill Act – Spectrum News

June 4, 2025
Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

June 4, 2025
Kehoe calls special session on storm damage, KC sports teams – FOX 2

Kehoe Announces Special Session to Address Storm Damage and Support KC Sports Teams

June 3, 2025
From Eggs To Fingerlings, Wyoming Students Dive Into The World Of Fish Conservation – KGAB

From Eggs to Fingerlings: Wyoming Students Make Waves in Fish Conservation!

June 3, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (664)
  • Economy (678)
  • Entertainment (21,584)
  • General (15,261)
  • Health (9,720)
  • Lifestyle (681)
  • News (22,149)
  • People (679)
  • Politics (687)
  • Science (15,898)
  • Sports (21,182)
  • Technology (15,664)
  • World (665)

Recent News

Collective dynamical regimes predict invasion success and impacts in microbial communities – Nature

Collective dynamical regimes predict invasion success and impacts in microbial communities – Nature

June 4, 2025
John Brenkus, ‘Sport Science’ Host, Died By Suicide, Medical Examiner Says – TMZ

Tragic Loss: ‘Sport Science’ Host John Brenkus Passes Away in Heartbreaking Circumstances

June 4, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version