How the U.S. government can keep household debt in check

On Aug. 24, President Biden announced the cancellation of $10,000 in federal student loan debt for most borrowers making less than $125,000 annually. But student loans account for less than 10% of hou...

13 states may hit borrowers with state tax liability on forgiven student loans

President Joe Biden‘s student loan forgiveness plan will soon cancel debt for millions of Americans — and the relief is tax-free on federal returns. However, experts say the cancellation may sti...

Scammers leverage student loan forgiveness, FTC says. Here’s how to protect yourself

President Biden this week announced a long-awaited plan to forgive student debt for millions of borrowers — and criminals will likely leverage the news to steal from unsuspecting victims, the Federal ...

Biden’s Student Loan Forgiveness Plan Refunds Borrowers Who Paid During Pause

The few Americans who continued to make student loan payments during a federal pause enacted at the beginning of the pandemic will now be eligible for a refund. On Wednesday, President Biden announced...

How President Biden linked a $15 minimum wage to student loan reform

Fast-food workers and supporters fight to raise the minimum wage to $15 an hour. James Leynse | Corbis Historical | Getty Images The Biden administration seems to have pegged a student loan policy ann...

Goldman Sachs has run the numbers on student-loan relief. This is its assessment.

The White House on Wednesday finally released its program for student-loan-debt relief, saying it will cancel up to $20,000 in debt per borrower to households earning as much as $250,000. Read: Biden ...

How to Claim Your Student Loan Forgiveness

The Biden administration is canceling a portion of federal student loan debt. Stefani Reynolds/AFP/Getty Images Text size The Biden administration is canceling a portion of federal student loan debt a...

Biden Forgives Up to $20,000 in Student Loan Debt. What It Means for Nelnet and Navient.

Text size President Joe Biden said he met a pledge to “provide student debt relief.” Getty Images The Biden administration announced Wednesday the cancellation of $10,000 in federal studen...

‘Student-loan socialism’ — Republicans blast Biden’s debt-forgiveness move, as Democrats praise his ‘effective action’

President Joe Biden on Wednesday made his long-awaited announcement on federal student loans, saying his administration plans to cancel $10,000 in debt per borrower for individuals making under $125,0...

Here’s Who Benefits Most—And Least

Topline Out of the roughly 45 million Americans with federal student loan debt, here’s who stands to benefit the most from the plan announced Wednesday by President Joe Biden that gives $10,000 in rel...

As Biden cancels up to $20,000 of student debt, some groups want more

Student loan borrowers gather near The White House to tell President Biden to cancel student debt on May 12, 2020. Paul Morigi | Getty Images Entertainment | Getty Images President Biden’s long-...

Key events on the path to student loan forgiveness

A woman holds a sign during an Occupy Wall Street rally against the high cost of college tuitions April 25, 2012 in New York. Don Emmert | Afp | Getty Images For the millions of Americans with student...

What Forgiving Student Loan Debt Could Mean for the Economy

Nearly 44 million people collectively owe $1.7 trillion in federal student loans. Forgiving some or all of it would cost taxpayers hundreds of billions of dollars. Stefani Reynolds/AFP/Getty Images Te...

What Biden’s reported student debt cancellation plan could mean for borrowers

The question on millions of student loan borrowers’ minds will likely be settled Wednesday, when the Biden administration is expected to announce broad-based student debt relief.  Though borrowers wil...

Biden Planning Student-Loan Announcement Wednesday

White House officials are planning for President Biden to make an announcement on Wednesday about his proposal for dealing with student-loan debt, according to people familiar with the matter. The pre...

Larry Summers Opposes Full Student-Loan Forgiveness

President Joe Biden will likely announce soon the fate of student debt, as the current pause in federal student-loan payments is set to expire Sept. 1. About 45 million people owe approximately $1.7 t...

‘The pause has meant everything:’ What happens to borrowers — and the economy — if Biden lets student loan payments resume in September

There’s less than two weeks until the latest pause on federal student loan payments is set to expire on Aug. 31. No need to tell Cassie Smith. The chance of restarted payments are “a looming rain clou...

Republicans Unveil Bill To Rein In Federal Student Loans

UNITED STATES – MARCH 25: Rep. Virginia Foxx, R-N.C., speaks at a news conference in the Capitol … [+] Visitor Center in support of the plaintiffs in the Sebelius v. Hobby Lobby Stores cas...

Americans Are Split Along Party, Age Lines

Topline A narrow majority of Americans support President Joe Biden’s reported plan to forgive $10,000 in federal student loan debt for most borrowers, according to recent polling – though that support...

Bombshell Report Reveals Student Loans Cost More Than Anyone Thought

Getty getty In most cases, determining the cost of a government program is simple: add up what the Treasury spends and subtract any revenues the program generate. Not so with federal student loans. Fi...

Biden Reportedly May Offer $10,000 In Student Loan Relief And Another Payment Pause

Topline President Joe Biden is mulling providing more actions on student loans, including the cancellation of $10,000 in federal student loan debt per borrower, Bloomberg reported Tuesday citing peopl...

‘I work just 10 hours a week’

When I created my money and lifestyle blog Making Sense of Cents in 2011, I had no idea what I was doing. I was a 22-year-old financial analyst making $40,000 a year and struggling to pay off my stude...

‘My friends and family say I’m rich.’ I’m 26 and make $100K a year living in St. Louis, where I pay $850 in rent. But I can’t afford to buy a home, and am losing money when I invest. Would hiring a financial adviser be a smart move?

Is a financial adviser needed if you feel overwhelmed about money? Getty Images/iStockphoto Question: I am a 26-year-old pharmacist earning approximately $100,000 a year — take home pay is about $5600...

Biden’s Education Department Proposes $85 Billion In New Student Loan Cancelations

FILE – Education Secretary Miguel Cardona speaks at an event where Vice President Kamala Harris … [+] announced the cancelation of all federal student loans borrowed by students to attend ...

College Doesn’t Have To Be A Rip Off

At around $100 billion a year, Americans heavily subsidize public colleges and universities through state taxes. With state higher education dollars exceeding those spent on hospitals, health services...

Student Loan Forgiveness Could Be The Biggest Mistake Of Biden’s Presidency

President Joe Biden (Photo by Chip Somodevilla/Getty Images) Getty Images Student loan forgiveness could be the biggest mistake of Biden’s presidency. Here’s what you need to know — and what it means ...

Here’s When Biden Could Announce Student Loan Forgiveness

President Joe Biden (Photo by Anna Moneymaker/Getty Images) Getty Images President Joe Biden may not decide whether to forgive student loans until July or August. Here’s what you need to know — and wh...

Why Student Loan Forgiveness Has Been Delayed — 5 Takeaways

President Joe Biden (Photo by Kevin Dietsch/Getty Images) Getty Images Here’s why student loan forgiveness has been delayed. Here’s what you need to know — and what it means for your student loans. St...

Republicans Slam Biden On Student Loan Forgiveness

President Joe Biden (Photo by Anna Moneymaker/Getty Images) Getty Images Republicans slam President Joe Biden on student loan forgiveness. Here’s what you need to know — and what it means for your stu...

Student Loan Forgiveness Of $50,000 Gets Renewed Push

President Joe Biden (Photo by Kevin Dietsch/Getty Images) Getty Images Student loan forgiveness of $50,000 gets a renewed push. Here’s what you need to know — and what it means for student loans. Stud...

Biden open to canceling $10,000 in student loans per borrower — what that means for your budget, credit score and tax bill

If $10,000 vanishes from your student debt, you may want to celebrate. This is a question millions of student loan holders may be facing soon if President Joe Biden proceeds with a controversial plan ...

‘I’d love to be married now. I would love to be a dad by now. I’d love to have a home by now’: The winners and losers in Biden’s plan to cancel $10,000 in student-loan debt

The Biden administration is planning to cancel $10,000 in student-loan debt for borrowers earning below a specific income threshold. But for borrowers like Johnathan Perkins, 36, the amount of debt fo...